South African pay TV company Multichoice Group said on Thursday it made a loss in the first half due to an upfront investment in services and offerings it made before the soccer World Cup that starts later in November.
The company has exclusive rights to broadcast the sporting extravaganza in Africa.
For the half year ended Sept. 30, its headline loss per share, the main measure of earnings in South Africa, was at 58 South African cents, down from 356 cents posted in the same period of last year.
“The impact of the football off-season was exacerbated by an extremely challenging consumer climate,” MultiChoice stated.
“Generating additional revenue streams continues to be a main focus and the business saw growth in insurance customers, further traction in DStv Internet with the launch of new fibre bundles and new additions to the DStv Rewards programme.”
“The South African business enjoyed further growth in the mass market. It also reported positive subscriber growth for the Premium package through more enticing bundle offers, product aggregation benefits and a strong sports line-up,” the company said.
Reuters, additional reporting by BR Reporter