Browsing: Broadcasting and Media

MultiChoice will carry losses incurred by Showmax in the “medium term”, but the goal is eventually for the streaming television service to turn a profit once broadband infrastructure in South Africa and the rest of the continent has been built out further to support it.

Multichoice Africa Group will list in the “broadcasting and entertainment” sector on the main board of the JSE on 27 February 2019, the pay-TV operator said in a statement after markets closed on Monday.

MultiChoice Africa Group, which will list on the JSE next month, expects to pay executive chairman Imtiaz Patel R22.2-million for the year ended 31 March 2019, up from R19.7-million in the 2018 financial year.

Netflix’s Bird Box, You and other new programmes helped attract millions more subscribers to the streaming service last quarter. But slower sales growth disappointed investors riding high on a 50% stock gain in recent weeks.