Naspers rakes in
Releasing its interim financial results for the six months ended 30 September 2014, Naspers reported that its core headline earnings grew 24% to N$6.1 billion while revenues measured on an economic interests basis grew 30% year on year. Revenue emanating from its pay television platforms DStv and GOtv drove revenue up 20% to N$20 billion on the back of a growing customer base of 342 000 households. Trading profit increased 11% to N$5 billion following an investment in its digital terrestrial television operation as well as online video initiatives.
This has resulted in an upsurge in take-up of its rental service BoxOffice of 600 000 movie rentals per month. Naspers provides digital terrestrial television through its recently launched GOtv operation available in 11 countries.
Said Board chair, Ton Vosloo, “We are seeing meaningful increases in organic traffic in our markets as we deliver compelling customer propositions and scale our platforms.” Naspers has been able to optimise its channel offering following the introduction of BET, M-Net Edge, and Ebony Life TV. Additionally, high definition channels have been opened up to a non-premium tier and an increased investment in local content has resulted in the successful hosting of flagship reality show Big Brother Angola. Naspers has been able to grow its premium subscribers base 15% year on year to 1.2 million while the total number of digital terrestrial television subscribers stands at 872 515. Going forward, Naspers will accelerate its investment in online services and build-out its digital terrestrial television subscriber base, maintain its revenue growth momentum and take advantage of the festive season spending. Said Chief Financial Officer Basil Sgourdos, “The second half of the year is traditionally the most active part of the year for most of our businesses. We expect some pick-up in spend as we capitalise on the holiday season, which could result in lower core headline earnings for that period.”