MultiChoice makes record high profit, big increase in DStv subscribers

[Jan]

MultiChoice hits record high profit with big increase in DStv subscribers

MultiChoice's financial results have revealed a big increase in trading profit and subscribers on its pay-TV service DStv.

The group's trading profit increased 28% to R10.3 billion, benefiting from a R1.5 billion reduction in losses in its business in the rest of Africa, and 9% growth in South Africa.

“This strong trading profit performance was due to resilient revenue growth, strong cost control and the impact of embracing new ways of working as a consequence of COVID-19 that reduced operating costs,” MultiChoice said.

It was further supported by a delay of R1.1 billion in sports events' costs, which will now be incurred in the next financial year.

 

[Charlesjjm]

I thought they were under siege?

 

[SlinkyMike]

They fired about every damned consultant that was there AFAIK.

 

[Roger Banana]

If you remove the impact of the delay in sports events' costs, the increase is approximately 14%.

Also, I'm not sure if the losses in Africa reduced purely due to exchange rate movements i.e. if the Rand strengthened, the loss in Rand terms will reduce.

 

[Groggyme]

Where are all those people saying MC and DSTV were dying?

 

[dualmeister]

A fool and his money are soon parted

 

[Ninja'd]

Can't believe I paid R1000 to DSTV to watch Mayweather and Logan Paul hug each other. I could've watch an interracial bro hug at the nearby Mormon church for free.

 

[Ninja]

Can't believe I paid R1000 to DSTV to watch Mayweather and Logan Paul hug each other. I could've watch an interracial bro hug at the nearby Mormon church for free.

do you need a hug bro ?

 

[Ninja'd]

do you need a hug bro ?

Goddammit why is it always you!>

 

[KleinBoontjie]

They fired about every damned consultant that was there AFAIK.

So a payroll saving, rather than an increase in subscribers, then

 

[R13...]

I wonder if the likes of MC are praying that the virus sticks around a bit longer. Even SABC managed a monthly profit the other day.

 

[GoneWithTheWindows]

Goddammit why is it always you!>

 

[Ninja'd]

View attachment 1086515

Don't get me started. One time I came across his posts on same day and thought I never f**king posted anything that day. Legit thought I was hacked.

 

[Swa]

Well, this is more a reduction in costs. I also don't see where their SA and premium subscribers increased.

 

[supersunbird]

I thought they were under siege?

They must have had a Steven Seagal repeat festival and got confused...

 

[WollieVerstege]

This is certainly not unique to DStv as most content providers saw increases in numbers over the last year thanks to lockdown. We will have to see if this is sustainable as the world returns to normal.

 

[neoprema]

Multichoice/DSTV will reward us with more useless channels, repeats and 5-yr-old shows as a thank you for everyone parting with their hard earned money.

Not to mention their dodgy partner OnAir who keep harassing me to upgrade my decoder and when I said no thanks she said "Well then DSTV will cut off your viewing soon because you're using an Xplora thats too old"

 

[Vorastra]

Can't believe I paid R1000 to DSTV to watch Mayweather and Logan Paul hug each other. I could've watch an interracial bro hug at the nearby Mormon church for free.

You didn't learn from the Mayweather v. McGregor fight?

 

[SeRpEnT]

A fool and his money are soon parted

This.

 

[ThinkCentre]

What is clear is that they are getting more clients in elsewhere in Africa and not South Africa. In fact they are having less customers here because of their greed!