DStv gets more subscribers, makes more money
MultiChoice, the company behind DStv, has released its annual financial results for the year ending 31 March 2017.
The company said its results were satisfactory despite tough conditions in the South African economy.
The weakness of the rand also had a negative effect on MultiChoice, as it bills its customers in rand and pays for most costs in US dollars.
The group saw increases in revenue and profit for the period, and delivered the following results:
- Revenue – R40.54 billion
- Operating profit – R10.16 billion
- Taxation – (R2.63 billion)
- Profit for the period – R6.83 billion
The results also showed that the company has a commitment of R25.39 billion for programme and film rights.
Subscribers and content
MultiChoice said it added 625,000 customers – around 11% growth – across its packages in the period, reaching a high of 6.3 million households.
The company also highlighted its large spend on local content during the period, which included investing:
- Over R2.1 billion on local content
- Over R2.0 billion on local sports content
MultiChoice launched 15 new HD channels on DStv during the year, it added, including M-Net Movies Action, KykNET & Kie, and SuperSport Blitz.
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