MultiChoice Group, a pay-TV provider headquartered in South Africa that operates in Nigeria, said that the country leads the rest of Africa (RoA) in subscriber revenue % and year-over-year subscription increase despite high inflation, gasoline shortages and regular power outages in the country.
According to Nairametrics checks, Nigeria placed top in terms of y-o-y subscriber growth and subscription revenue in full-year 2022 compared to other African nations with MultiChoice presence, such as Kenya, Zambia, and Angola.
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Regionalization had a favorable impact on development, as did a deal with FIRS to delay legal challenges and begin tax audits after they were postponed. Big Brother Naija, for example, had a significant effect on the success of the RoA activities.
According to data from the financial year, Kenya had a 4 percent decline in yearly subscription growth and a 9 percent increase in subscription income. Y-o-y subscriber growth in Zambia fell 3% in FY'2022, while subscription revenue grew by 7%. On the other hand, Angola had just 1% y-o-y membership growth and a 5% subscription revenue increase.
What the firm has to say
A normalization of content costs and the resumption of local content production following the COVID-19 lockdowns allowed MultiChoice Group CEO Calvo Mawela to absorb the R1.1 billion ($74.5 million) impact of reduced losses in the Rest of Africa (RoA), rebounding advertising revenues, and a continued focus on cost containment.
Because of our size and local resources as a platform of choice, we'll be looking for ways to extend our entertainment ecosystem even more.
A few things you should know about Multichoice
An annual trade profit of $697.8 million (approximately N292 billion) was reported by MultiChoice Group for the year ending March 31, 2022, a slight increase of 0.4% over the previous year.
The company's business in Nigeria and the rest of Africa (RoA) totaled $81.3 million.
The board's sustained business success was measured by a 6 percent increase in core headline profits to $237.1 million.