Naspers has announced its financial results for the year to 31 March 2018 – showing a 9% rise in consolidated revenue to US$6.66 billion, “as e-commerce continued to scale”.
Speaking on its DStv division, Naspers said that overall, the video-entertainment business recorded modest subscriber growth over the period with the total subscriber base closing at 13.5 million at the end of its full year.
“The macroeconomic environment remained a challenge and business continued to face competition from international players,” it said.
Despite the difficult conditions, the segment nonetheless recorded good growth, Naspers said, adding just over 1 million DTH (direct to home) and 520,000 DTT (digital terrestrial) subscribers, to bring the total base to 13.5 million households across the African continent.
South Africa accounts for the bulk of subscribers, having grown its base 9% year on year. The group noted that it added just under 500,000 subscribers locally, approaching a total base of 7 million households.
“The mass market growth trend is continuing. The Premium tier growth is declining and Compact tier growth is starting to stabilise,” Naspers said.
It added that the average revenue per user (ARPU) remained relatively stable at R344 (compared to R353 in 2017), despite an ongoing change in subscriber mix.
PVRs meanwhile, have increased 9% YoY and the 1.4 million customers at present represent an 81% penetration on Premium and 12% penetration on Compact. This represents strong retention and and a boost to ARPU, the group said.