{"id":45736,"date":"2023-03-14T11:49:48","date_gmt":"2023-03-14T11:49:48","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes"},"modified":"2023-03-14T12:42:34","modified_gmt":"2023-03-14T12:42:34","slug":"multichoice-plunges-almost-15-after-flagging-sa-woes","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes","title":{"rendered":"MultiChoice plunges almost 15% after flagging SA woes"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; South-Africa. <\/strong><\/span>Shares of DStv owner MultiChoice crashed almost 15% on Tuesday morning, wiping out almost R8 billion in a value, a move which comes after it flagged pressure on its SA margins as a result of load shedding and deteriorating economic conditions.<\/p>\n<p>MultiChoice, valued at over R54 billion at market open, saw its shares fall to as low as R119.21 in morning trade, but at 10:20 its losses had eased a little and it was down 12.19% to R122.56.<\/p>\n<p>Click here for details on MultiChoice&#8217;s shares as well as other info.<\/p>\n<p>The company warned shareholders after the JSE closed on Monday that its margins in SA are expected to slip below guidance.<\/p>\n<p>&#8220;Although the [FIFA] World Cup delivered subscriber numbers broadly in line with expectations, the operating environment in South Africa has deteriorated beyond expectations over the past few months,&#8221; it said.<\/p>\n<p>Indications are that second-half revenue growth in the SA business will be below expectations. Given a largely fixed cost base, as well as the additional Showmax costs incurred in relation to the recently announced agreement with Comcast, this will result in the segment&#8217;s full-year trading margin being between 23% and 28%, which is below the market guidance of 28% to 30%.<\/p>\n<p>MultiChoice had 22.1 million subscribers as of September, 9.1 million of which were in SA &#8211; which accounted for almost 60% of its subscription revenue. The company had announced in early March that it inked a deal with US media giant Comcast, that will see the owner of NBCUniversal and Sky take a 30% stake in its streaming platform Showmax.<\/p>\n<p>A new version of Showmax with US technology and a plethora of new content will be launched, with the aim to compete with US giant Netflix, and become Africa&#8217;s leading platform, it said.<\/p>\n<p>The company, however, on Monday also said it was seeing success in its cost-containment drive, while due to the positive impact of increased scale, supported by good second-half subscriber growth over the festive season &#8211; especially in Nigeria &#8211; the Rest of Africa business remains on track to return to trading profitability.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. Shares of DStv owner MultiChoice crashed almost 15% on Tuesday morning, wiping out almost R8 billion in a value, a move which comes after it flagged pressure on its SA margins as a result of load shedding and deteriorating economic conditions. MultiChoice, valued at over R54 billion at market open, saw its [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":45735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,944,4793,1599,1601,1186,275,4794],"class_list":["post-45736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-crash","tag-crater","tag-dstv","tag-multichoice","tag-shares","tag-south-africa-2","tag-streaming"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>MultiChoice plunges almost 15% after flagging SA woes - South Africa<\/title>\n<meta name=\"description\" content=\"Shares of DStv owner MultiChoice crashed almost 15% on Tuesday morning, wiping out almost R8 billion in a value, a move ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MultiChoice plunges almost 15% after flagging SA woes\" \/>\n<meta property=\"og:description\" content=\"Shares of DStv owner MultiChoice crashed almost 15% on Tuesday morning, wiping out almost R8 billion in a value, a move ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-14T11:49:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-14T12:42:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/03\/postQueueImg_1678781991.68.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"MultiChoice plunges almost 15% after flagging SA woes\",\"datePublished\":\"2023-03-14T11:49:48+00:00\",\"dateModified\":\"2023-03-14T12:42:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes\"},\"wordCount\":358,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2023\/03\/postQueueImg_1678781991.68.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"crash\",\"crater\",\"dstv\",\"multichoice\",\"shares\",\"South-Africa\",\"streaming\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/multichoice-plunges-almost-15-after-flagging-sa-woes\",\"name\":\"MultiChoice plunges almost 15% after flagging SA woes - 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