South Africa: Openview Platform Says It Is Experiencing Rapid Growth
According to the Johannesburg Stock Exchange (JSE) reporting, the Openview - the free to air satellite platform (owned by the eMedia group) has increased by 18% in the past year. In the report, it can be noted that eMedia's activations on its set-top boxes have almost 2.4 million units, which is an improvement from its record a year ago which were less than 2 million.
Openview, including e.tv, the platform's sister company, earned advertising revenue of R269.6 million (US$19.574 million) in the year ending March. This was an improvement from the R194.1 million (US$14.093 million) earned in the previous year. However, there was an increase in content costs from R308.7 million (US$22.414 million) in the financial year 2019/20 to R366.9 million (US$26.635 million) in the financial year 2020/21.
The increase in content costs has been attributed to the additional sports channel and sports on the news, as well as the addition of the Afrikaans block on eExtra, said eMedia. These investments have increased the platform's viewing market share, the group added.
Openview operating expenses fell by 7% due to the group ending a consumer subsidy of set-top boxes designed to drive sales. Despite the ending of the offering, the Openview set-top box activations continue to grow at an average of 35000 per month. eMedia Holdings has now promised to launch new channels in the current financial year to improve the breadth of the Openview content offering.