Video entertainment group Multichoice is preparing for its public listing on the JSE in February 2019, and has published pre-listing documents which give insight into the various financial aspects of the business.
In its latest pre-listing presentation published on Wednesday (6 February), the group has delivered key figures on its subscriber base and how its services fit in the greater subscription TV market.
Most notably, the group has for the first time given an indication on how large its streaming services user base is (Showmax and DStv Now) and how it compares to market estimates of its competitors.
According to Multichoice, around 9% of its user base in South Africa is streaming content through Showmax and DStv Now. This includes both hybrid and streaming-only audiences.
With the group reporting 6.6 million South African subscribers at FY 2018, this would place its streaming-only audience at around 595,000 people.
This is significant, as it would put DStv Now and Showmax subscribers above Multichoice’s estimates of Netflix’s user base in the country.
Netflix does not report on its subscriber base in South Africa, but estimates from Multichoice have put it in the region of 300,000 to 400,000 people.
Statistics portal Statista has also previously given estimates on Netflix subscribers in South Africa, estimating that in 2018 the streaming service had just over 152,000 subscribers in the country.
Because Netflix allows for multiple users to use one account, the exact figure is difficult to pin down, even as a range.
In a comparison between competitors in the market, however, Multichoice said that its total subscriber base (13.9 million) is four times bigger than all its competitors in the comparable market.