Strong DStv growth
Naspers today reported a 5% increase in revenue to R28 billion for the financial year ended 31 March 2010. Operational profit grew by 10% to R5.4 billion, mainly due to cost management and flat development spend.
When it came to its pay-TV operations Naspers had a lot to be happy about. Overall, the pay-television segment expanded revenues by 12%, due to subscriber growth of 634 000 net households.
“After a satisfactory festive season, subscriber growth did slow in the last quarter of the financial year. Operating margins were slightly lower due to the cost of building the subscriber base, as well as higher content costs resulting from increased competition and more local production,” Naspers said in their annual results report.
In South Africa the DStv subscriber base grew by 450 000 to 2.85 million homes. DStv currently offers nine different bouquet offerings and three high definition channels.
“With a strong content offering of soccer, general entertainment and movies, the mid-priced Compact bouquet attracted many customers. Advertising revenues were marginally better,” Naspers said.
In the other 47 countries in the rest of Africa, a focus on local content and additional sport delivered 184 000 additional subscribers, taking the base to 1.1 million homes.
Mobile TV operations were launched in Ghana, Kenya, Namibia and Nigeria, whilst we still await a licence in South Africa.
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