Multichoice says its rate of subscriber decline has decelerated with a fall of 8%, compared to 11% on 2024.
The African pay-TV platform on the verge of a takeover by Canal Plus now has an installed base of 14.5 million. Its put the subscriber erosion down to a weak consumer environment across many of its markets.
However, while revenues declined by 9% YoY to ZAR 50.8 billion as a result of its subscription losses, the company has managed to increase profits, helped by the sale of a 60% stake in its insurance business.
Showmax, now a JV with Comcast’s NBCUniversal, grew subscribers by 44%, but losses widened by 88% to R4.95 billion. MultiChoice puts this down to a withdrawal from markets outside of Africa.
Technology division Irdeto grew revenue by 8% year-on-year increasing external revenue in all three market segments; Video Entertainment, Gaming and Connected Transport.
