A disconcerting trend of obfuscation and misdirection has taken root among some listed telecommunications and technology companies in South Africa.
The subterfuge began in 2019, shortly before Naspers spun off MultiChoice to list it separately on the Johannesburg Stock Exchange. When MultiChoice launched a campaign to entice investors ahead of its listing in 2019, it changed how it reported subscriber numbers to hide DStv Premium’s decline. However, when DStv Premium saw its subscribers increase in September 2022 while DStv Compact Plus performed poorly, MultiChoice was quick to try and tell investors the good news without disclosing the actual number.
In its annual results presentation, MultiChoice revealed that it shed 6% of its DStv Premium subscribers in South Africa in its 2022 and 2023 financial years, followed by 5% in 2024.To make the narrative fit the numbers, MultiChoice restated its March 2023 figures for DStv Premium to remove subscribers making use of its “Surprise and Delight” promotion.
Source: News Formal (newsformal.com)
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