South Africa-based multinational mass media company Naspers have announced financial results for the year ended 31 March 2014, with its pay-TV business, which covers 50 countries on the African continent, reporting 20% growth in revenues to R36,3bn.
Total subscribers increased by a record 1.3 million, taking the base to over 8 million homes. Continued expansion of digital terrestrial (DTT) services, more investment in local content and an increase in online service offerings resulted in 13% growth in trading profit to R8,5bn.
“We had a lively year with progress across several businesses,” says Naspers chair, Ton Vosloo. “Our established businesses performed very well and we stepped up our investment in new growth opportunities, particularly in ecommerce.”