MultiChoice recently released the remuneration packages of its top executives for the year ending 31 March 2019 as part of the company’s pre-listing statement.
MultiChoice chairman Imtiaz Patel will be paid R22.1 million, while the company’s CEO Calvo Mawela will receive a pay package of R7.7 million.
Other remuneration packages which were revealed include Nolo Letele (R8.4 million) and CFO Timothy Jacobs (R7.9 million).
Pay too high
Consumers were quick to criticise these salaries, describing them as shocking and a sign of greed by the company and its executive team.
However, these salaries are much lower than what their counterparts in the US and UK receive.
The table below provides an overview of the latest salaries of CEOs of prominent pay-TV providers, based on annual reports and publicly-available information.
As an interesting additional piece of information, we added the number of pay-TV subscribers for each company.
|Pay-TV CEO Salaries|
|Company||Pay-TV Subscribers||CEO||Annual Salary||Salary in ZAR|
|Charter Communications||16.7 million||Tom Rutledge||$7.8 million||R108.4 million|
|Sky||9.64 million||Jeremy Darroch||£4.96 million||R89.2 million|
|Virgin Media||5.9 million||Tom Mockridge||£3.0 million||R54.0 million|
|MultiChoice||13.9 million||Calvo Mawela||R7.7 million||R7.7 million|
Salary, subscribers, and price
One of the other big complaints from DStv users is they feel they pay far too much for DStv Premium.
The multi-million-rand salaries of the MultiChoice executives were clearly a hard pill to swallow, with consumers paying R809 per month for DStv Premium.
To see if MultiChoice is significantly more expensive than other pay-TV operators with similar offerings, MyBroadband compared the premium packages of various providers across the world.
The results in the table below shows that DStv Premium’s price is in line with other providers. It can even be considered to offer good value-for-money – thanks to the excellent Supersport offering.
|Premium Pay-TV Packages|
|Company||Package||Price||Price in ZAR|
|MultiChoice (SA)||DStv Premium||R809||R809|
|Sky (UK)||Sky and Sky Sports||£45||R884|
|Foxtel (AUS)||Platinum HD||$99||R979|
|Comcast (US)||Digital Premier||$105||R1,454|
|Virgin Media (UK)||VIP Bundle (with Broadband)||£89||R1,606|