Broadcasting group eMedia Holdings, has published results for the six months ended September 2018, showing a 5.3% increase in revenue to R1.2 billion despite the tough economic conditions.<\/p>\n
The company owns e.tv and 24-hour news channel eNCA, along with free-to-air satellite television platform, OpenView.<\/p>\n
Operating profit improved to R85.38 million, from R52 million before, while profit from continuing operations rose 158.3% to R48.4 million. Included in that profit is the sale of Da Vinci Media, for R11.4 million.<\/p>\n
The loss from discontinued operations amounted to R29.5 million resulting in the profit for the period ending on R18.9 million compared to a loss of R700,000 in the prior period.<\/p>\n
Included in the profit are the losses attributable to the continued investment into the multi-channel business (OpenView and e.tv multichannel) of R84.3 million compared to R117.3 million in the prior year.<\/p>\n
Box activations continued on a steady growth path, with 1,432,521 boxes activated, compared to 1,008,114 boxes during the prior period, the group said.<\/p>\n
Headline earnings per share increased to 3.34 cents per share, versus a prior loss of 0.55 cents per share.<\/p>\n
e.tv terrestrial<\/strong><\/p>\n The six-month period saw the market share of e.tv remain fairly constant, but it increased a key revenue driver – LSM 8 to 9 – from 11.80% market share to 13.90% market share. e.tv’s advertising revenue however, recorded a slight decrease year on year.<\/p>\n Programming and other cost of sales decreased by 12% from R326 million to R285.6 million. “Management is re-looking at the schedule in order to maximise slots that are currently unprofitable,” it said.<\/p>\n “A new local drama, ‘Imbewu: The Seed’, was introduced in April 2018 and is performing well. This should help improve the revenue in e.tv, as well-performing local dramas are the biggest revenue drivers.”<\/p>\n e.tv Multichannel and Platco<\/strong><\/p>\n Advertising revenue showed significant improvement, increasing by 161% from R22.2 million in the previous year to R57.9 million.<\/p>\n The OpenView platform has increased its viewership capacity to 1 432 521 boxes activated at the end of the period.<\/p>\n “With this ever-improving rollout, and when digital terrestrial television starts, the group will be in a good position to increase its revenue base,” eMedia said.<\/p>\n eSat.tv (eNCA)<\/strong><\/p>\n It said that eNCA continues to perform well and continues to be the most watched 24-hour news station on DStv with over 50% market share.<\/p>\n Advertising revenue in eNCA still shows good growth ending the period on R57.0 million, up 10% from R52.0 million in the previous year.<\/p>\n “eNCA had a relaunch and rebranding in July 2018, and initial feedback is generally positive,” eMedia said.<\/p>\n Certain of the Group’s other subsidiaries have performed satisfactorily for the six month period, it said.<\/p>\n These include Sasani Africa and Strika Entertainment. “YFM has also shown a turnaround from the previous period,” eMedia said.<\/p>\n
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