Pay-TV operator MultiChoice Group’s full-year 2022 results reveal that Nigeria leads the Rest of Africa (RoA) in the percentage of subscription revenue and year-on-year subscription growth.
According to BMA sources, Nigeria ranked first with year-on-year subscription growth of 11 per cent and 43 per cent of subscription revenue, compared to other African countries with MultiChoice presence, such as Zambia, Kenya and Angola.
The growth was a result of regionalisation, which produced positive outcomes that unlocked market potential and agreement with FIRS to postpone court challenges and commence tax audits.
The popularity of local content like Big Brother Naija also had a positive impact on the performance of the RoA operations.
MultiChoice Kenya followed with a drop of 4 per cent in year-on-year subscription growth and 9 per cent growth in subscription revenue during the financial year. Zambia reported a decline of 3 per cent in year-on-year subscription growth and 7 per cent growth in subscription revenues in FY’2022.
Meanwhile, Angola trailed with year-on-year subscription growth of 1 per cent and 5 per cent of subscription revenue in FY’2022.
CEO of MultiChoice Group, Calvo Mawela, said, “Fewer losses in the Rest of Africa (RoA), a rebound in advertising revenues and a continued focus on cost containment enabled us to absorb the US$74.5 million impact of a normalisation in content costs as live sport returned and we began our local content production post the COVID-19 lockdowns”.
“As a platform of choice, MultiChoice will look to further expand the entertainment ecosystem by identifying growth areas that leverage our scale and local capabilities.”
Earlier this year, MultiChoice Group posted a trading profit of US$697.8 million for the year ended March 31, 2022, rising marginally by 0.4 per cent over what it recorded in 2021.