Multichoice Group

Integrated Annual Report 2024
Home MultiChoice at a glance Creating value Sustaining value Performance Corporate governance Shareholder information

Value created by our group

ZAR45 238m

subscription revenue(1)

+

ZAR10 730m

other revenue(2)

+

ZAR640m

interest income

=

ZAR56 608m

total value created

ZAR45 238m

subscription revenue(1)

+ ZAR10 730m

other revenue(2)

+ ZAR640m

interest income

= ZAR56 608m

total value created

Value allocated to stakeholders

Cash flows FY24
ZAR'm
FY23
ZAR'm
Subscription revenue(1) 45 238 48 579
Other revenue(2) 10 730 10 486
Interest income 640 449
Total value created 56 608 59 514
Employee costs 6 754 6 171
Value allocated to employees 6 754 6 171
Content investment 20 994 20 896
Set-top box purchases 4 205 6 553
Transponder costs 2 448 2 454
Other operating expenses 13 579 11 941
Value allocated to suppliers and partners 41 226 41 844
Tax expense(3) 3 442 3 841
Licence fees 227 280
Community social development spend(4) 301 285
Value allocated to governments and societies 3 971 4 406
Dividends paid to non-controlling shareholders 1 399 1 517
Non-controlling interests in net profit retained (174) 558
Value allocated to minority partners 1 225 2 075
Dividends paid to group shareholders - 2 415
Repurchase of treasury shares 482 -
Interest paid to debt providers 1 021 511
Value retained for equity holders 1 929 2 092
Total value allocated and retained 56 608 59 514

(1) Subscription revenue in FY24 includes ZAR0m losses related to fair value movements on Nigeria futures contracts (FY23: ZAR76m losses).

(2) Other revenue includes Irdeto revenue, advertising revenue, decoder sales, installation fees, licensing and production revenue, DStv Insurance premiums and reconnection fees.

(3) Includes current and deferred tax charges. For details of corporate income taxes paid and collected during the year, refer to page 38 of the Integrated Annual report.

(4) Includes non-cash advertising contributions of ZAR61m in FY24 (FY23: ZAR106m).

In return, our customers received value through:

24/7/365 entertainment anytime and anywhere through linear packages and streaming services tailored to their needs and budgets
World-class sport viewing, along with developing local and school sports talent, and sports federations through SuperSport
Unique local content that tells African stories and supports local creative talent development
Extensive international content access through licensing and distribution agreements
Dynamic media services to access and advertise to both broadcast and online audiences
A growing ecosystem offering entertainment and consumer products and services, such as sports betting and fintech services
Leading digital and cybersecurity services for digital platform and application protection