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MultiChoice grows subscriber base, sees TelkomOne competition as 'opportunity'

12 November 2020 7:38 PM
Tags:
The Money Show
DStv
Bruce Whitfield
Multichoice
Netflix
Tim Jacobs
multichoice group
COVID-19
TelkomOne
Explora Ultra PVR

The MultiChoice Group has added 1.2 million active subscribers, almost half in SA. The Money Show talks to CFO Tim Jacobs.

The MultiChoice Group (parent company of MultiChoice South Africa) has exceeded the 20 million subscriber "milestone" for the first time.

The group released its financial report for the six months ended September 2020.

It reports that 1.2 million 90-day active subscribers were added year on year to close the period on 20.1 million households.

The South African business (operator for DStv locally) delivered subscriber growth of 7% year on year or 0.5m subscribers on a 90-day active basis.

The rest of Africa grew this subscriber base by 6% (0.6m subscribers).

This is even without being able to screen live sport.

Bruce Whitfield asks Tim Jacobs (MultiChoice Group CFO) what's driving subscriber growth.

It's a combination of things. Certainly, we benefited from the lockdown... but equally we've been driving a significant amount of retention in the residential market, specifically to offset the weakness that we've seen in the commercial side of our business.

Tim Jacobs, CFO - MultiChoice Group

Where we saw the impact [of no live sport] was... in the upper-tier packages where subscribers have downgraded through the last six months, and as the sport has come back we've seen a migration of some of that back up.

Tim Jacobs, CFO - MultiChoice Group

If we look across the continent, a lot of people are motivated to continue to pay but they sometimes need a little bit of a push... We've got dedicated teams that will follow up, trying to understand why people have disconnected and encourage them to reconnect...

Tim Jacobs, CFO - MultiChoice Group

The limitation on the Internet side of our business is still connectivity and data costs, but that is slowly changing.

Tim Jacobs, CFO - MultiChoice Group

Jacobs comments on the new competition from the SABC-Telkom partnership with the launch of streaming service TelkomOne.

He describes it as both an opportunity and a threat.

RELATED: TelkomOne streaming launches to take on Netflix at half the price with free data

On the one side we have a competitor in the market place... but at the same time it's an opportunity because I think for the first time I think consumers in South Africa are able to have a look at what another service provider's got to offer and compare something to us.

Tim Jacobs, CFO - MultiChoice Group

We often get criticised, for example, for repeats or not having fresh content and the reason for that criticism is because there's no basis for comparison.

Tim Jacobs, CFO - MultiChoice Group

On Thursday MultiChoice also announced announced the launch of its new DStv Explora Ultra decoder which provides access to Netflix.

Find out more here.

Listen to the conversation in the audio below:


12 November 2020 7:38 PM
Tags:
The Money Show
DStv
Bruce Whitfield
Multichoice
Netflix
Tim Jacobs
multichoice group
COVID-19
TelkomOne
Explora Ultra PVR

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