MultiChoice investors lose R32 billion
MultiChoice investors reportedly lost R32 billion due to a decline of DStv subscribers and its inability to find new revenue sources.
MultiChoice investors have lost R32 billion in six months as the DStv owner struggles to hold on to high-end subscribers.
ALSO READ: SABC pulls soapies from MultiChoice’s DStv Stream Catch Up
MULTICHOICE LOSES BILLIONS
My Broadband reports that South Africans with Premium and mid-market DStv accounts are continuously choosing to cancel their subscriptions.
The publication reports that DStv Premium subscriptions declined by 6% over the last year, and mid-market subscriptions declined by 3%, while majority DStv subscribers downgraded their packages.
DStv’s average revenue per user has now declined from R269 to R256 year-on-year.
The company is reportedly injecting funds into its streaming platform Showmax and local content to facilitate this growth and to create ten times more local content within ten years.
However, the company recently revealed that its streaming platform, Showmax lost R1.2 billion in the last financial year.
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SABC PULLS SOAPIES FROM DSTV CATCH UP
TVSA reported on Wednesday, 20 September that the SABC (South African Broadcasting Corporation) has pulled all their soapies, Uzalo, Muvhango, Skeem Saam, Generations: The Legacy, 7de Laan from MultiChoice’s DStv Stream Catch UP.
Soapie fans this week received a message which read: “Important notice. At the request of the SABC, this programme will be removed from DStv Catch Up from 18 September.”
The publication adds that the soapies have all gone to SABC’s streaming service SABC+ and they’re also on VIU.
“Clearly the SABC’s on a mission to keep them as exclusive as possible and to be honest, they’re better on SABC+. Every episode has the original broadcast date with them, which wasn’t on DStv Stream, and shows such as Uzalo stream in better quality,” adds the publication.
The move comes after the public broadcaster’s intense negotiations with Multichoice to secure the broadcasting rights for the 2023 Rugby World Cup.
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