Naspers on Friday recorded positive results for the year to March 2017, increasing revenue by 19% year on year to US$14.6 billion.
The group’s portfolio of companies includes those in the video entertainment space, namely MultiChoice and its DStv service.
Overall, Naspers said that video entertainment revenue was flat at $3.401 billion.
It said its video entertainment subscriber base grew to 11.9 million households, with 1.5 million subscribers added during the period. Of these, 626,000 were new direct-to-home customers in South Africa.
The group stated that the growth was mainly from mid and lower-end bouquets, with the “change in subscriber mix negatively impacting revenue uplift”.
Naspers said it achieved satisfactory financial results despite tough conditions in the South African economy.
However, a weaker rand resulted in cost inflation and margin pressure, offset by continued focus on cost containment.
The group saw its average revenue per user for personal video recorder (PVR) decoders decline slightly in 2017.
Naspers’ results also showed the growth in video entertainment subscriber numbers, with the company’s South African direct-to-home base up to 6.36 million.
There was also growth in the number of subscribers in sub-Saharan Africa.
Subscriber mix figures pointed to a decline in the number of viewers on Premium packages, with the number of subscribers and the percentage of total subscribers on lower-end packages both increasing.