Naspers has released its financial results for the year to 31 March 2017, which show that revenues increased 19% year-on-year.
Part of Naspers’ report covers the company’s video entertainment operations, which includes the performance of MultiChoice and its DStv service.
Naspers’ “Video Entertainment” subscriber base grew to 11.9 million households, with 1.5 million subscribers added during the period.
Of these, 626,000 were new direct-to-home customers in South Africa.
The results stated that the growth was mainly from mid and lower-end bouquets, with the “change in subscriber mix negatively impacting revenue uplift”.
The report further noted that the financial results were satisfactory, despite tough conditions in the South African economy.
Naspers stated that the weak rand also resulted in cost inflation and margin pressure.
The slide below from the Naspers results report details the growth in video entertainment subscriber numbers, which showed that the South African direct-to-home base grew to 6.36 million.
There was also growth in the number of subscribers in sub-Saharan Africa.
Subscriber mix figures pointed to a decline in the number of viewers on Premium packages, with the number of subscribers and the percentage of total subscribers on lower-end packages both increasing.