Pay TV slows, Internet grows at Naspers
Multinational media company Naspers released its interim results for the six months to 30 September on Tuesday. They show subsidiary MultiChoice has enjoyed far slower growth than in 2010 but the group's Internet interests are expanding rapidly and accounting for much of its growth.
29 Nov 2011
Consolidated revenues were up 17%. Though its largely offshore internet businesses grew during the period, subscriber growth at MultiChoice, which owns DStv and M-Net, slowed after a flurry of activity in 2010 driven by the soccer World Cup.
The media group says its print media business has experienced strain on account of the economic downturn, but it managed to maintain market share.
Core headline earnings grew by only 8% during the period and the company attributes this to the new platforms and businesses it launched during the period and the expenses those incurred.
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Craig Wilson is an ICT journalist and speaker based in Johannesburg. He is deputy editor at TechCentral, the South African source for technology news, reviews and opinion, and regularly provides insight into the technology industry for radio and television. Email him at craig@techcentral.co.za, follow @craigwilson on Twitter and connect on LinkedIn.
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