MultiChoice has published its annual results presentation for the year ended 31 March 2019, detailing the company’s performance across its online and pay-TV segments.
The company’s subscription TV market is shifting towards widespread adoption of its lower-end products instead of its premium offerings, the company said.
The results also showed much larger growth in the rest of Africa than in South Africa, with MultiChoice now having more paying subscribers outside of South Africa than in the country.
MultiChoice said that the biggest growth it has seen is in its Connected Video division, which includes Showmax and DStv Now.
“Sustained efforts to grow the digital offering through Connected Video and position the business for the future, saw good uptake of both the Showmax and DStv Now services,” MultiChoice said.
“As a result, online subscribers doubled year-over-year.”
Bigger than Netflix
In its results presentation, MultiChoice group compared the total active user base of its Showmax and DStv Now platforms to Netflix.
Using its own estimate of the number of Netflix subscribers in South Africa, MultiChoice asserted that DStv Now and Showmax were bigger than Netflix in Africa.
According to the presentation, the combined number of Showmax and DStv Now subscribers was 1.6x more than those of Netflix in the markets which MultiChoice operates in.
MyBroadband asked MultiChoice what it estimated the number of Netflix subscribers in Africa were, but the company said it could not provide a concrete figure.
MultiChoice added that it has seen a large improvement in the number of “Play events” on its platform, which refers to how many times a users presses the play or watch button on its digital platforms.
Below are MultiChoice’s Connected Video figures published in its financial results presentation.