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MultiChoice Loses 2.8m Subscribers in Two Years

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Video entertainment company MultiChoice’s woes are persisting with the company continuing to suffer massive losses in revenue and subscribers.

This emerged today when the DStv parent company announced its financial results for the year ended 31 March (FY25).

In a statement to shareholders on the Stock Exchange News Service, the JSE-listed firm says the past two financial years have been a period of significant financial disruption for economies, corporates and consumers across sub-Saharan Africa due to challenging macro-economic factors.

Combined with the impact of structural industry changes in video entertainment such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group, it notes.

Over this period, MultiChoice says the group lost 2.8 million active linear subscribers and had to absorb a R10.2 billion negative impact on its topline due to local currency depreciation against the US dollar.

For the year ended 31 March, the company reveals that linear subscribers were down 1.2 million or 8% year-on-year (YoY) to 14.5 million active subscribers, with the loss evenly split between South African (600 000) and Rest of Africa (600 000).

Although reflecting an improvement on FY24 trends, MultiChoice says this indicates ongoing broad-based pressure across the group’s entire customer base.

Active paying Showmax subscribers were up 44% YoY, reflecting healthy growth and gaining regional market share, it adds.

Group revenue declined by R5.2 billion or 9% YoY to R50.8 billion, mainly due to an 11% decline in subscription revenues (-1% organic) caused by foreign currency and subscriber volume headwinds and the deconsolidation of the NMSIS insurance business from December 2024, it explains.

According to the firm, this was partially offset by inflationary pricing and new product growth (DStv Internet, DStv Stream and Extra Stream).

Trading profit, which declined by R3.8 billion or 49% YoY to R4 billion, was materially affected by the R2.3 billion organic increase in trading losses in Showmax and the R5.2 billion in foreign currency revenue losses, partially offset by a significant outperformance in delivering total cost savings of R3.7 billion.

Adjusted core headline earnings, the board’s revised measure of the underlying performance of the business, shifted to a loss of R800 million (FY24: earnings of R1.3 billion) due to lower trading profit and hedging losses in FY25 (compared to gains in FY24), partially offset by smaller losses on cash remittances from Nigeria.

The group incurred a free cash outflow of R500 million in FY25 (FY24: inflow of R600 million), impacted by lower profitability, higher lease repayments due to timing and partially offset by improved working capital management as well as a 29% YoY decline in capex.

At year-end, the group held R5.1 billion in cash and cash equivalents and retains access to R3 billion in undrawn general borrowing facilities.

A part of the R12 billion term loan was repaid early by using the R900 million upfront proceeds from the NMSIS transaction (ie R1.2 billion, net of tax), says the company.

The group operates in numerous markets across Africa and internationally, resulting in significant exposure to foreign exchange volatility.

Amid the challenges, MultiChoice states that management acted decisively to ensure that the group could withstand these headwinds, focusing on key areas within its control.

It notes that this has meant maintaining a discipline of inflationary pricing, with price increases of 5.7% in South Africa in FY25 (FY24: 5.6%) and an average of 31% in local currency in Rest of Africa (FY24: 27%), which enabled the group to offset subscriber volume pressures and deliver 1% YoY organic revenue growth in the current financial year.

In addition, further efficiencies were implemented to manage costs and cash flows without unduly sacrificing the group’s customer value proposition, it adds.

In this regard, the group delivered R3.7 billion in cost savings, well ahead of management’s initial R2 billion target (and the revised R2.5 billion target set at interims) and almost double the R1.9 billion saved in FY24, the company says.

 


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Broadcasting

Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform

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Lebara Nigeria has announced the launch of Lebara Play, described as Africa’s first telecoms-owned micro-drama platform aimed at expanding opportunities for African storytellers and distributing local content to global audiences.

Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform

The company said the platform is designed to support creators by providing a new distribution channel for African narratives while making content accessible to both subscribers and non-subscribers worldwide.

Lebara Nigeria added that the platform will debut with an original production titled Imported Bahu, produced by Forever 7 and starring Osas Ighodaro.

The project is directed by Hamisha Daryani Ahuja, known for her work on Namaste Wahala, and is positioned as the first in a series of original content offerings.

According to the company, Lebara Play is built to serve both creators and audiences, with a focus on showcasing African stories to a global market and strengthening the continent’s growing digital entertainment ecosystem.

Speaking on the company’s vision at the launch, Teniola Stuffman, chief executive officer, Lebara Nigeria, said the organisation was focused on building a telecommunications ecosystem that combined innovation, connectivity, and customer-centric digital experiences.

Stuffman said, “This platform represents an important step in our vision of building a telecommunications brand that delivers more than connectivity. We are creating an ecosystem where technology, innovation, and entertainment come together to provide meaningful experiences for customers while unlocking new opportunities for creative talent and content development across Africa.”

Beyond entertainment, she said, industry stakeholders believed the initiative demonstrated how global telecommunications expertise could be adapted to local market realities.

“Drawing from decades of experience across multiple international markets, Lebara is expected to introduce additional innovative services aimed at enhancing convenience, engagement, and value for Nigerian consumers,” she said.

Stuffman added that the company’s strategy reflected growing recognition that today’s telecom customers demanded more than network access, pointing out that consumers increasingly seek brands that offer seamless digital experiences, personalised services, and access to content that enriches everyday life.

Stuffman stated that LebaraPlay also aligned with the company’s commitment to supporting Africa’s creative economy by creating new distribution channels for content creators, producers, and digital storytellers.

“Through a combination of original productions and strategic partnerships, the platform seeks to create opportunities for talent while delivering quality entertainment to audiences,” she said.

Hamisha Daryani, founder of Forever7 Entertainment, expressed excitement over the partnership with Lebara Nigeria and the premiere of her latest micro-drama series on the LebaraPlay platform.

She stated that Lebara’s customer-centric vision aligns closely with the values of Forever7 Entertainment, making the collaboration a natural fit for both organisations.

Daryani revealed that the new microdrama featured a star-studded cast drawn from both Bollywood and Nollywood, in a compelling romantic story designed specifically for mobile audiences.

According to her, the production is developed with mobile-first consumers in mind, delivering premium entertainment in short, engaging formats at an affordable cost.

“Microdrama, which typically consists of short episodes of about three minutes, is redefining how audiences consume entertainment. It offers a convenient, immersive, and affordable viewing experience for people who increasingly access content through their mobile devices,” she said.

She added that the platform was created to support seamless creative expression while providing new opportunities for content creators across the continent.

Daryani further explained that the microdrama format has already achieved significant success in Asia and the Americas and is now gaining traction across Africa.

She said the initiative would create opportunities for emerging creatives through knowledge sharing, skills development, content curation, and industry collaboration, with the Nigerian rollout of the featured series expected to commence in July.

 


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CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries

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Following an expanded partnership between CANAL+ and Samsung Electronics, the DStv Stream app will now be pre-installed on new Samsung Smart TVs sold in Nigeria and 17 other African countries.

The agreement covers English and Portuguese-speaking African markets, including Nigeria, Kenya, Angola, Tanzania, Uganda, Zambia, Zimbabwe and South Africa. It marks the first pre-installation rollout of a MultiChoice Group streaming application on Samsung Smart TVs.

The development comes after the completion of the combination between CANAL+ and MultiChoice Group. It also extends an existing relationship between both companies that already spans 40 markets across Europe, French-speaking Africa, and Asia.

Through the integration, Samsung customers can now access DStv Stream directly from the television home screen. The app provides access to premium sports and entertainment content, including coverage of the FIFA World Cup 2026, English Premier League football, domestic and international rugby, and local and international television programming.

With the introduction of this connected television which kicked off on June 1, televisions can now connect to the internet, allowing users to stream content directly without requiring a separate decoder or satellite dish. The pre-installation of the app removes the need for users to search for and download it themselves, reducing friction and improving content discoverability.

The rollout is one of the first major distribution initiatives following the integration of CANAL+ and MultiChoice. The combined group has identified streaming growth and enhanced digital distribution as key priorities across Africa, where connected television adoption continues to increase.

David Mignot, CEO of CANAL+ Africa and CEO of MultiChoice Group, affirmed, “We are delighted to extend our longstanding partnership with Samsung across new English and Portuguese-speaking African countries. It marks a significant milestone in the synergies created by the combination of CANAL+ and MultiChoice Group.

“Mignot added, “As viewing habits continue to evolve rapidly across the continent, strengthening the accessibility and discoverability of our content offer on connected devices is key. By expanding the availability of our applications on Samsung Smart TVs across key African markets, we are making it even easier for millions of MultiChoice Group’s subscribers to seamlessly access the content that define the uniqueness of the CANAL+ and MultiChoice Group experience.”

This extended partnership is expected to strengthen Samsung’s position as a key distribution partner for streaming services globally while providing CANAL+ and MultiChoice with a broader route to market as competition intensifies among international and regional streaming platforms across Africa.


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Court Deals Fresh Blow to NBC, Throws Out Appeal over Broadcast Fines

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The Court of Appeal in Abuja has dismissed an appeal filed by the National Broadcasting Commission (NBC) challenging a Federal High Court judgment that restrained the commission from imposing fines on broadcast stations.

Court Deals Fresh Blow to NBC, Throws Out Appeal Over Broadcast Fines

Delivering judgment, Justice Jane Esienanwan Inyang held that the appeal was fundamentally defective and therefore incompetent.

The appeal stemmed from a Jan. 17, 2024 judgment delivered by Justice Rita Ofili-Ajumogobia of the Federal High Court, Abuja, which barred the NBC from enforcing N5 million fines imposed on several broadcast stations in 2022.

The sanctions had been issued over allegations that the stations aired documentaries on banditry and insecurity considered by the commission to be capable of undermining national security.

The affected broadcasters included Multichoice Nigeria Limited, owners of DStv, TelCom Satellite Limited, Trust TV Network Limited and NTA StarTimes Limited.

The suit was instituted by Media Rights Agenda (MRA), which challenged the legality of the fines imposed by the commission.

In her ruling, Justice Inyang pointed to a discrepancy in the appeal documents, noting that the respondent before the Federal High Court was listed as the “National Broadcasting Commission,” while the notice of appeal identified the appellant as the “Nigerian Broadcasting Commission.”

According to the court, the inconsistency was substantial enough to deprive it of the jurisdiction required to entertain the appeal.

“The notice of appeal is the foundation of an appeal and a condition precedent to the exercise of appellate jurisdiction by this court,” the judge held.

Consequently, the appeal was struck out without consideration of the substantive issues raised by the commission.

The ruling represents another setback for the NBC in its efforts to defend its authority to sanction broadcast organisations through administrative fines.

In April 2026, the Court of Appeal similarly dismissed a separate appeal by the commission against another judgment that restricted its powers to impose fines on broadcasters.

Earlier, in May 2023, the Federal High Court in Abuja ruled that the NBC lacked the judicial authority to impose penalties on media organisations without recourse to the courts.

The controversy over the commission’s sanctioning powers dates back to March 2019 when the NBC imposed N500,000 fines on 45 broadcast stations for alleged violations of the Nigerian Broadcasting Code during the general elections.

At the time, the then Director-General of the commission, Is’haq Kawu, said the sanctions were imposed for ethical breaches and violations of broadcasting regulations.

Legal analysts say the latest judgment reinforces previous court decisions limiting the commission’s authority to impose fines on broadcasters without judicial intervention.


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