DStv operator Multichoice is still losing premium subscribers in South Africa.
DStv operator Multichoice has published its interim results for the six months ending 30 September 2022.
The group’s earnings and cash flows for the interim period were also adversely impacted by an outsized investment in decoders ahead of the upcoming 2022 FIFA World Cup, it said. Core headline earnings, which Multichoice says is more reflecting of the core business, increased 2% to R2.0 billion. This was mainly attributable to the reduction in losses in the Rest of Africa and positive foreign exchange movements, it said.Multichoice said that its South African operations saw further growth in the mass market segment, but this was largely at the cost of premium and middle-market subscribers.
Revenue in South Africa decreased 2% to R17.4b billion, mainly due to a weaker-than-normal Q1 when the impact of the end of the football season was exacerbated by an extremely challenging consumer climate.
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