MultiChoice has announced a slowing rate of subscriber decline, reporting a fall of 8% compared to 11% in 2024. The African pay-TV giant, currently undergoing a potential takeover by Canal Plus, now boasts an installed base of 14.5 million subscribers. The company attributes the subscriber erosion to a challenging consumer environment across its various markets.
Despite a 9% year-on-year revenue decline to ZAR 50.8 billion, largely due to subscription losses, MultiChoice managed to increase its overall profits. This positive outcome was significantly aided by the sale of a 60% stake in its insurance business.
Showmax, now a joint venture with Comcast’s NBCUniversal, saw a notable 44% surge in subscribers. However, this growth was accompanied by an 88% widening of losses, reaching R4.95 billion. MultiChoice explains this by citing its strategic withdrawal from non-African markets.
Meanwhile, the technology division, Irdeto, demonstrated robust performance, achieving an 8% year-on-year revenue increase. This growth was consistent across all three market segments: Video Entertainment, Gaming, and Connected Transport.