Naspers ups revenue as subs top 3.3m

Africa-focused media pay-TV company Naspers recorded a 30% increase in revenues of ZAR26.7bn (€2.45bn) for the financial year ended March 31.

The company cited a resilient pay-TV business as a core reason for the growth. It added 683,000 subscribers through the year, taking the total to 3.3 million across Africa. Pay-TV revenues accounted for ZAR14.9bn of the total, a 29% increase year on year.  

Company financial director Steve Pacak said that Naspers had resilient revenue streams across various emerging markets, but cautioned that competition on the pay TV sector alongside extra regulation and reduced consumer spending pose a risk in the current financial year.