SA Satellite Television Company MultiChoice Highlights Its Expansion Plans
SA Satellite Television Company MultiChoice Highlights Its Expansion Plans. In the year ahead, the group will continue its shift from a traditional pay-TV platform to a broader ecosystem focused on segments that address African customer needs and are underpinned by technology.
“Our core video entertainment business will remain a central focus for FY24 as we navigate the impact of ongoing economic challenges across our markets, especially the impact of South Africa’s ongoing energy challenges”, says Calvo Mawela, Chief Executive Officer. “Our new management team in SA will be looking to leverage the exceptional content slate this year, which includes the Rugby and Cricket World Cups and the locally-hosted Netball World Cup, while tight cost management remains an utmost priority.”
Following the recent announcement of the new Showmax group, the year ahead will not only see the business migrating to the Peacock platform, but also the exciting launch of new products and price points to set Showmax up for strong future growth. “We continued to scale our overall subscriber base and benefited from a strong performance in the Rest of Africa, that delivered a trading profit for the first time since our listing in 2019. It is a remarkable performance by the team considering that they have had to absorb almost ZAR3bn in currency losses in the last four years” said Mawela. “We increased the breadth and depth of services offered to our customers and continued to grow our entertainment ecosystem, most notably through our recent streaming partnership with Comcast,” he added.
In other verticals, KingMakers will launch in South Africa under the SuperSportBet brand, while the launch of new products will be aimed at driving increased market share and revenue growth in Nigeria. Moment plans to launch its B2B platform and then start rolling out payments technology to support more frictionless digital payment experiences for customers at a lower cost to the group in several markets across the continent.
“Despite some challenges presented by the current operating environment, we remain excited about our future prospects as we leverage our platform and broad distribution to drive scale in several new growth opportunities,” Mawela concluded.
