Tag Archives: Naspers

Date set for MultiChoice JSE listing

Naspers, one of the largest technology investors in the world, will list it’s pay TV unit MultiChoice on the Johannesburg Stock Exchange (JSE) on February 27.

Bob van Dijk

The company includes MultiChoice South Africa, MultiChoice Africa and Showmax. Naspers originally announced its intention to list last September.

The move means Naspers shareholders will now hold a direct interest in MultiChoice rather than through Africa’s most valuable company.

Naspers CEO Bob van Dijk said: “Listing MultiChoice Group via an unbundling aims to unlock value for Naspers shareholders and at the same time create an empowered, top-40-JSE-listed African entertainment company.

“With strong financials, the flexibility of an ungeared balance sheet and deep local knowledge, we hope to deliver excellent returns to shareholders over time,” added group CEO Calvo Mawela.

tagged in: , , , , , , , ,

DStv viewers demand pay-as-you-view

Nigerian subscribers to pay TV operator DStv have expressed their dissatisfaction with the services offered by parent company MultiChoice and are calling for a change in the law.

They are asking the federal government to force the Naspers-owned South African company to introduce a pay-as-you-view billing system.

This, they say, would ensure they get better value for their subscriptions, as they currently pay for services they do not receive.

Nigerian businessman Uzochukwu Nwafor told the News Agency of Nigeria (NAN): “They need to put a regulation in place to help subscribers enjoy the money they paid to view the programmes.

“With that [pay-as-you-view] billing, we can save some money. I see subscribing to DStv programmes as a waste of money; it does not happen abroad or even in South Africa.”

Civil servant Silvanus Okonkwo also told NAN: “Many companies come to Nigeria and rip us off because our policies are not being implemented. Again, DStv does not have serious competitors and that is why the company is behaving as it pleases.

“The pay-as-you-go billing that telecommunications operators offer is supposed to be applicable to DStv,” he continued, adding that the National Assembly should concentrate on the number of subscribers available so that bouquet prices can be reduced.

Another DStv subscriber, Ishmael Lawal, said the decoder was not working properly as he usually receives poor signals. He said: “The company cuts off subscriptions two days before expiration without warning. Again, they keep repeating programmes when one had paid to get new and trending programmes.”

A source at the Consumer Protection Council said it had taken MultiChoice to court over the issue.

tagged in: , , , , , , , ,

MultiChoice low-cost subs up

African pay TV operator MultiChoice has recorded a boost in revenue from lower-cost subscribers while that from its high-end users has declined.

The news was revealed in the year-end financial report from MultiChoice’s parent company Naspers.

The company disclosed that MultiChoice has had a notable subscriber reduction in the past year, losing 41,000 DSTV Premium subscribers, declining from 1.962 million to 1.921 million.

According to the company, however, the lower-end subscribers more than make up for this loss as the mass market continues to grow and stabilise.

Overall, the company saw a 13% increase of DSTV subscribers, which grew from 11.942 million to 13.476 million across Africa. The growth of the mass market may also be due to GOtv, MultiChoice’s DTT service that provides TV services at a lower rate.

DSTV and GOtv are currently among Nigeria’s leading pay TV networks, with a wide range of entertainment and viewing options.

tagged in: , , , ,

MultiChoice exec team reshuffled

Naspers, one of the largest technology investors in the world, has announced the new executive leadership team for its MultiChoice Group.

Imtiaz Patel

The new execs include Calvo Mawela as group CEO, Imtiaz Patel as executive chairman, Tim Jacobs as chief financial officer and Brand de Villiers as chief operating officer. The appointments will take effect on November 1.

Naspers CEO Bob van Dijk said: “This announcement marks a significant step for the MultiChoice Group as they journey towards a stand-alone business. I am confident that through the leadership of Imtiaz and Calvo, MultiChoice Group will continue on its growth trajectory and unlock even more value for its shareholders.”

Calvo said: “I am incredibly excited to lead our team of highly capable executives through this new and exciting chapter for our company. Our leadership team is diverse, experienced and well-positioned to grow our position as the leading entertainment company on the African continent.

Calvo Mawela

“There are significant growth opportunities for MultiChoice Group in Africa. The combination of MultiChoice’s reach, Showmax and DStv Now’s cutting-edge internet television service, alongside Irdeto’s 360 security suite will provide a unique offering.”

On September 17, Naspers had made its intention to separately list its video entertainment business on the Johannesburg Stock Exchange and will include MultiChoice South Africa, MultiChoice Africa, Showmax Africa and Irdeto.

MultiChoice Group is one of the fastest growing pay TV operators in the world and its multi-platform business reaches 13.5 million households across Africa.

tagged in: , , , , , , ,

MultiChoice’s Factory seeks talent

The recently launched MultiChoice Talent Factory (MTF) has put out a call for applications.

The Naspers-owned pay TV company recently launched a 12-month pan-African film and television academy for aspiring media professionals and entrepreneurs. The MTF Academy aims to provide students with the skill sets required to work in the television and film industry.

Entries are open until July 5 and aspiring film and TV creatives can apply on the MTF website . A total of 60 individuals will be selected from 13 countries to become students. Classes will begin on October 1 in Kenya, Nigeria and Zambia.

The MTF initiative comprises three parts, the MTF Academy, MTF Masterclasses and professional database MTF Portal. The MTF Academy students are expected to produce content for television and film that will air on MultiChoice’s TV platforms DSTV and GOtv.

MultiChoice described the initiative as “a social investment initiative aimed at igniting Africa’s creative industries and growing them into vibrant, economic powerhouses.”

The company added: “The African continent is steeped in a rich and diverse history of living passionately through language, art, music and colourful storytelling. As the continent continues to change rapidly, the entertainment industry has become ever more relevant. MultiChoice Africa has identified an opportunity in this fast-changing environment – one that will leave a lasting impact on the creative industry as a whole.”

tagged in: , , , , , ,

Naspers to list MultiChoice on JSE

Naspers, one of the largest technology investors in the world, plans to separately list entertainment subsidiary MultiChoice on the Johannesburg Stock Exchange (JSE).

Imtiaz Patel

The new publicly listed company is named MultiChoice Group and comprises MultiChoice South Africa, MultiChoice Africa, Showmax Africa and conditional access tech firm Irdeto.

Naspers CEO Bob van Dijk said: “This marks a significant step for the Naspers Group as we continue our evolution into a global consumer internet company. Listing MultiChoice Group via an unbundling aims to unlock value for Naspers shareholders and at the same time create an empowered top-40 JSE-listed African entertainment company.”

The level at which video entertainment has penetrated Africa is quite low, even though it is the fastest growing continent by GDP and population. This is why MultiChoice is being unbundled with limited leverage so it can pursue other opportunities in video entertainment.

This new business aims to offer streaming services online including DSTV Now and Showmax.

Video entertainment CEO Imtiaz Patel declared that: “There are significant growth opportunities for MultiChoice Group in Africa. The combination of MultiChoice’s reach, Showmax and DStv Now’s cutting-edge internet television service, alongside Irdeto’s 360-degree security suite, will provide a unique offering.”

Naspers’ video entertainment business, one of the fastest growing pay TV operators worldwide, entertains about 13.5 million households all over Africa due to its multi-platform structure.

tagged in: , , , , ,