Naspers reveals DStv BoxOffice figures

Listed media and Internet player Naspers says its BoxOffice service for DStv subscribers attracts 400,000 movie rentals per month.

And at R25 per rental, that amounts to R10 million per month for the group.

On Tuesday (25 June) Naspers reported a 27% rise in consolidated revenues, to R50.2 billion for the year ended March 2013.

Naspers said its consolidated trading profit for the year was flat at R5.7 billion. Operating profit advanced 19% to R3.82 billion.

Pay television revenue soared 20% to R30.257 billion, while ebitda improved 21% to R8.93 billion.

Pay television

Naspers said that growth in its pay TV segment came largely from an increase in the net subscriber base of 1.1 million, which now reaches 6.7 million households across 48 countries in Africa.

The group said its capex for the segment increased by a whopping 71% to R2.03 billion, from R1.187 billion, but it was able to lift its ARPU to R307, from R298 in 2012.

  • Compact accounted for 38% of growth;
  • GoTV accounted for 31% of growth;
  • PVR base increased 26% YoY to 956,000.

Trading profits grew 18% to R7.6 billion, despite the increased development spend on infrastructure. “We are also investing more in local productions,” Naspers said.

We now produce more than 6,000 hours per annum of local broadcasting in South Africa, Nigeria and Kenya.

“SuperSport is by far the largest funder of sport in Africa. We contribute more to sports bodies than any government,” Naspers said.

Pay TV homes
Pay TV homes

Looking ahead, Naspers said it would aim to Accelerate subscriber growth, and extend its online services, but also warned of intensifying competition, while more regulation, “may stifle competition,” it said.

In April, On Digital Media (ODM), parent company of pay-television operator TopTV, said it would enter into a deal with Chinese firm StarTimes which would see it taking a 20% stake in TopTV, and thereby rescuing the group financially.

On 29 October 2012, ODM resolved to commence business rescue proceedings after experiencing financial distress for an extended period of time.

DStv operator, MultiChoice had previously approved funding of R500 million, “for the purposes of implementing a credible business rescue plan and securing the on-going sustainability of ODM”. However, it stepped away from the deal.

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Naspers reveals DStv BoxOffice figures