MultiChoice’s plan to build long-term success

MultiChoice’s latest annual report has outlined its strategy to remain competitive in a rapidly changing entertainment industry.

MultiChoice’s DStv service has been under pressure for many years as competing streaming services like Netflix and Disney+ entered the market.

The rapid growth of broadband in South Africa and the Rest of Africa has also led to the increased use of services like YouTube and TikTok.

In response, MultiChoice launched its own streaming service, DStv Stream and Showmax, and has entered new industries to diversify its revenue streams.

It has also developed a new business strategy to guide its decisions to ensure the company remains sustainable amidst significant changes.

As part of this strategy, it focuses on six priorities which it identified due to their ability to impact the business.

• Customer satisfaction – Developing, launching and improving relevant products and services, while designing excellent customer service experiences to support our offerings.

• Industry evolution – The sectors that MultiChoice operate in undergo perpetual change, requiring it to adapt accordingly.

• Strategic priority execution – MultiChoice operates in a complex environment requiring focused strategic execution and capital allocation.

• Attracting and retaining talent – Attracting and retaining the right people to achieve its goals is a key aspect of MultiChoice’s strategic thinking.

• Developing local entertainment and sports industries and African entrepreneurs – MultiChoice’s investment in local entertainment content creates jobs across the creative industries and provides a platform for homegrown talent to shine.

• Government policy, regulatory and tax environment – Policies and regulations underpin market structure, but need to be well considered, while tax revenues support governments, but need to be judiciously and reasonably applied.

MultiChoice is confident that it is well-positioned to address these priorities and create long-term sustainability in the African entertainment market.