E-tv owner eMedia has reported a half-year profit from continuing operations of R144.8 million, down from R180.2 million a year ago.<\/p>\n
This represents a 19.7% decrease compared to the April\u2013September period a year ago.<\/p>\n
It attributed the decrease to the contraction of South Africa\u2019s TV advertising market and the negative impact of the rand-dollar exchange rate.<\/p>\n
The total TV advertising spend was 8% less than the same period in the previous year, eMedia said.<\/p>\n
eMedia also said it saw a significant increase in legal fees due to “the contentious situation with the Minister of Communications” over South Africa’s analogue TV signal switch-off<\/a><\/strong>.<\/p>\n It also took MultiChoice to court<\/a><\/strong> for removing four eMedia channels\u00a0from DStv.<\/p>\n This non-recurring expense, the Group believes is beneficial for the Group\u2019s progress. Management sees these increased legal fees as an investment in the future of the business.<\/p>\n eMedia\u2019s revenue increased by 2.1% to R1.5 billion, while operating profit decreased 17.6% from R241.9 million to R199 million.<\/p>\n \u201cA remarkable journey of success is unfolding as the eMedia Group releases positive and very satisfactory half-year results, despite the tough economic climate,\u201d eMedia said in a press statement accompanying the results.<\/p>\n It said the first six months of the financial year saw an increase in the intensity of load-shedding across South Africa.<\/p>\n This directly impacted the \u201cnumber of eyeballs\u201d watching television, with the Average Minute Rating (AMR) decreasing by 16.5% compared to the same six-month period last year.<\/p>\n However, eMedia noted that the AMR for E-tv decreased by 5%, showing that its increased market share has helped the company.<\/p>\n \u201cIt shows that we are doing something right, and that our programming is in line with audience demand,\u201d said eMedia CEO Khalik Sherrif.<\/p>\n Sherrif said they could not downplay the impact load-shedding has on the business and the rest of the industry.<\/p>\n E.tv is the main revenue generator for the company and improved its market share from 21.8% to 23.7%.<\/p>\n eMedia reported that Openview is in over 3 million households and recorded an increase in market share from 10% to 12.5%.<\/p>\n \u201cThe outstanding performance in the multi-channel business has come from eExtra, the two movie channels (eMovies and eMovies Extra), as well as eReality,\u201d eMedia noted.<\/p>\n \u201cThese channels are continually in the Top 10 [direct-to-home] channels in the country and display the strength of content curation in the Group.\u201d<\/p>\n eMedia said the Group had a combined market share of 36.2% in prime time on 30 September, up from 31.8% in the prior period, and 33.3% share for 06:00 to 24:00. This compares to the SABC at 27.3%, and DStv\u2019s share at 30.5%.<\/p>\n \u201cThe eMedia Group continues to be the biggest broadcaster in South Africa, and this market share stands the group in good stead when the economy turns,\u201d eMedia stated.<\/p>\n eMedia says a “remarkable journey of success” is unfolding at the company.<\/p>\n","protected":false},"author":15,"featured_media":417252,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[24],"tags":[2092,51025,74596,35,50823],"class_list":["post-470993","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broadcasting","tag-e-tv","tag-emedia","tag-emedia-holdings","tag-headline","tag-openview"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/470993"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=470993"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/470993\/revisions"}],"predecessor-version":[{"id":471005,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/470993\/revisions\/471005"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/417252"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=470993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=470993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=470993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nNow read: Openview channel changes in 2022<\/a><\/h2>\n","protected":false},"excerpt":{"rendered":"