Brands/Products
Subscription Fee Issues Take Toll on Multichoice Results
The latest performance report of Multichoice, where it posted losses for the second time may be an eye opener that the company at the centre of a storm in Nigeria over the controversial review of subscription fees is indeed under serious pressure caused by the crisis in the foreign exchange market and other operating challenges, writes Festus Akanbi.
For Multichoice, Africa’s leading entertainment company, this is certainly not a time to cheer. This is because its latest financial results have shown that contrary to popular belief, the company is not making enormous profits from its DStv satellite television service. The performance result which was in red confirmed that while the satellite television service contributes significantly to Multichoice’s revenue, the truth is that the company is not solely reliant on it.
MultiChoice reported loss-making for the year ended 31 March 2024 after incurring a net loss of 4.1 billion rand ($225.8 million at current exchange rate). The company recorded a loss for the second year running, its audited accounts released on Wednesday showed.
According to the company, the substantial net foreign exchange translation losses resulted from losses on, “USD-denominated non-quasi equity loans between MultiChoice Africa Holdings B.V. and MultiChoice Nigeria Limited.”
This, it added, “follows the depreciation of the Naira against the Dollar from a closing rate of N464.50 in FY23 to N1 308.00 in FY24.”
According to the income statement, revenue dropped 5.9 per cent to 55 billion rands due to a slide in subscription fees.
“The combination of foreign exchange headwinds and a lower subscriber base resulted in a net decline in group revenues of five per cent to ZAR56.0 billion,” MultiChoice said.
Counting the Gains of Diversification
The report showed that general and administrative expenses jumped to 18.4 billion rands from 16.6 billion rands a year earlier after surges in employee costs and software license expenses, weakening operating profit.
The report showed however that Multichoice’s diversification strategy has led to significant growth in other segments, such as Showmax, SuperSportBet, and Moment. These new revenue streams have contributed to the company’s overall performance, offsetting some of the challenges faced by DStv.
According to the financial results, several of the company’s other products and services also performed well. Showmax, in particular, has shown impressive growth, with a successful relaunch across 44 markets in sub-Saharan Africa and a significant increase in active users.
Highlighting the company’s achievements in the face of adversity, Multichoice Group Chief Executive Officer, CEO, Calvo Mawela, said despite a tough year, the company delivered a trading profit margin of 26 per cent in South Africa and a 48 per cent increase in trading profit in Africa.
“We’ve just published our results for the past financial year, which ended in March 2024. The year has been like no other in terms of economic turmoil, but we showed resilience and navigated significant headwinds – managing our business with focus, dedication, and tenacity,” said Mawela.
Emphasis on Efficiency
He added that the company’s financial results were a testament to its ability to adapt and innovate in a rapidly changing market, noting that the emphasis on efficiency has positioned the company for future growth, despite the challenges faced by its satellite television service.
“KingMakers delivered strong growth in the online business in Nigeria by growing monthly active online users by 37 per cent and online gross gaming revenues by 26 per cent, year-on-year in constant currency. The business launched BetKing Casino and a virtual football sportsbook service, BetKing FootballGO, in Nigeria and SuperSportBet in South Africa”, the CEO stated.
He continued: “SuperSport continues to bring fans the best of sports from across the globe. In the past year, we broadcast over 34,000 action-packed sports events, more live sports than any other broadcaster in the world. Highlights of the year were the Rugby World Cup, Cricket World Cup, Netball World Cup, FIFA Women’s World Cup, and AFCON.
“Also, SuperSport Schools continues to grow strongly and more than doubled its registered user base during the year. Showcasing South Africa’s talent of the future, the platform displayed 49,000 hours of live programming across 43 different sports, covering 1,100 schools and 14,500 teams.”
Mawela emphasised the company’s commitment to creating authentic African stories. “We are the largest producer of original content on the African continent and remain committed to creating and growing authentic African stories. We produced over 6,500 hours of local content, to bring our local content library to 84,000 hours of content. More than half of our general entertainment budget is spent on local content.”
Commitment to Innovation
With a cost savings target of ZAR2 billion (108.9 million) set for the upcoming year, the company is poised to continue its trajectory of growth and innovation.
“We know that nobody else has the content we have for the customers we serve. This puts us in a great position to prosper – by better understanding our customers’ entertainment choices, identifying their needs, and tapping into the growth opportunities that arise along the way.
“In the year ahead, our focus will be to drive scale in Showmax, Moment, and SuperSportBet and to grow DStv Insurance, DStv Internet, and DStv Stream. We are purposefully pursuing our vision of becoming Africa’s entertainment platform of choice with determination and vigour. Significant progress has been made towards achieving this strategic objective. Our combined efforts will put our business in a strong position to prosper once the macro-economic environment stabilises,” the Multichoice boss assured
ThisDay
Brands/Products
Lafarge Africa Debuts Beyond Buildings Campaign
By Adedapo Adesanya
Top building materials and solutions brand, Lafarge Africa Plc, has unveiled a new thematic campaign tagged Beyond Buildings geared towards highlighting its impact and contributions to Nigeria’s infrastructural development.
The campaign was unveiled by the chief executive of Lafarge Africa, Mr Lolu Alade-Akinyemi, on Monday, December 8, 2025, in Lagos.
Mr Alade-Akinyemi noted that the campaign highlights how Lafarge, through innovative and sustainable building solutions, has continued to shape the socio-economic development and progress of Nigerians and Nigeria by contributing to the construction of various structures, including iconic buildings and bridges, stadiums, hospitals, roads, and more, ultimately aiding the nation’s overall growth.
“For over six decades, beyond the manufacturing of building solutions, we have partnered in building the very foundation of Nigeria’s infrastructural development and its future. With our innovative solutions, we have made a significant contribution to our nation’s progress by providing essential building materials for numerous landmark projects.
“This also extends to the expansion of our production capacity nationwide, creating jobs and livelihoods, bringing development to communities, and introducing innovative products to meet the ever-evolving construction needs of Nigeria,” he said.
He described the campaign as a celebration of strength, innovation, history, shared success, and the power of progress, noting that it is the story of the company’s humble beginnings, which dates back to 1960 when its first factory began production.
“The Beyond Buildings campaign is the story of our vision, which is to be the leading building solutions company, driving innovation and operational excellence to create a greener planet and enable national progress. It shifts the narrative from our products to the profound impact we make on human lives. Our materials transform into national landmarks, powering jobs, livelihoods, and development across every state,” he noted.
The thematic campaign Beyond Buildings spotlights how Lafarge has been a strong and steady partner in building infrastructure that underpins Nigeria’s socio-economic progress.
“We are celebrating our enduring legacy and committing to a new era of sustainable and innovative growth. This campaign empowers us to tell that story with confidence and clarity,” he added.
Delivering his remarks, the Commercial Director of Lafarge Africa, Mr Gbenga Onimowo, stressed that the premiere viewing is an opportunity to share the compelling reasons why the company’s story, ‘Beyond Buildings,’ must be told.
Mr Onimowo stated that the campaign aims to reinforce the company’s position at the heart of Nigeria’s construction growth since independence, as demonstrated by its extensive footprint of infrastructure development across every corner of the country.
‘However, our contribution is not merely about building solutions including cement, mortar, plaster of paris and readymix concrete. It’s about the shared future and the national development we actively enable,’ he said.
He stated that the campaign was designed to move the conversation past the physical structures and shine a light on the socio-economic impact that the company helps create.
“Our campaign highlights the immense progress built on the concrete of trust since 1960. Our materials are integral to iconic landmarks like the National Theatre, 1st and 2nd Niger Bridges, Third Mainland bridge, Lekki-Ikoyi link bridge, the National Assembly Complex and countless national, commercial, academic and residential structures nationwide,” he added.
The event was well attended by distinguished stakeholders from the building and construction sector as well as the arts, culture, media and entertainment industry, alongside many of the company’s esteemed customers including veteran Nollywood actors Richard Mofe-Damijo (RMD) and Kate Henshaw.
Brands/Products
X3M Ideas Emerges Agency of the Year at LAIF 20th Anniversary
By Modupe Gbadeyanka
The prestigious Agency of the Year title has been clinched by X3M Ideas, a foremost integrated marketing communications (IMC) firm in Africa, at the Lagos Advertising and Ideas Festival (LAIF) Awards.
LAIF rolled out drums to celebrate its 20th anniversary at the Marriott Hotel, GRA Ikeja, Lagos, on Sunday, November 30, 2025.
The award ceremony, themed 20 Years of Crazy, was attended by several stakeholders in the IMC sector in the country.
At the event, X3M Ideas, established by a veteran in the industry, Mr Steve Babaeko, topped the medal table with 12 Gold, 20 Silver, and 24 Bronze awards, totalling 336 points. The second and third-placed agencies scored 153 and 141 points, respectively.
In 2023, X3M Ideas achieved a similar feat at LAIF and also emerged African Agency of the Year at the 2023 and 2024 editions of the African Cristal Awards.
During this period, Mr Babaeko was named African Personality of the Year, reaffirming the agency’s position as a leader in the African advertising industry.
The 2025 edition of LAIF was also a double celebration for X3M Ideas, as Mr Babaeko, alongside other industry leaders, received special recognitions and commemorative plaques for their invaluable contributions to establishing LAIF as West Africa’s premier creative showcase.
“We are extremely excited to win again at LAIF. This achievement demonstrates how we have continuously evolved, innovated, and remained creative, going ‘crazy’, in line with the theme of the award, by turning every brief into campaigns that resonate across all ages.
“This win also signifies that, together whether as individuals, agencies, or brands, we can shape the future of advertising, push boundaries, and redefine excellence,” Mr Babaeko, who is the Chief Creative Officer of X3M Ideas, said.
Recall, X3M Ideas broke a 70-year jinx to become the first Nigerian and West African agency to win at the Cannes Lions International Festival of Creativity.
The agency continues to put Nigeria on the global map, winning notable awards at the 2024 Lisbon International Advertising Festivals Group.
Additionally, X3M Ideas was recognised as one of Africa’s fastest-growing companies for 2025 by the Financial Times, ranked 31st among 130 companies across the continent.
Its campaign, Blood Sacrifice, also won at the 2025 Cannes Lions Festival, earning top honours at the prestigious ACT Responsible exhibition.
LAIF was established through the bold vision of the Association of Advertising Agencies of Nigeria (AAAN) to celebrate and elevate creativity within Nigeria’s marketing communications industry.
Brands/Products
Netflix to Buy Warner Bros. Discovery in $82.7bn Mega Deal
By Adedapo Adesanya
Netflix has reached a deal with Warner Bros. Discovery to buy the legendary TV and movie studio and assets like the HBO Max streaming service for $82.7 billion.
Warner Bros. Discovery is moving forward with its plans to split into two publicly traded halves in 2026. Once the split takes effect, Netflix intends to acquire the Warner Bros. half. The other half, Discovery Global, will house CNN and other cable channels. The Warner Bros. half includes its film and television studios, HBO Max and HBO.
The transaction values Warner Bros. Discovery at $27.75 per share, implying a total equity value of approximately $72.0 billion and an enterprise value of approximately $82.7 billion.
The deal is subject to regulatory conditions, of which there will be several, due to the size of the companies involved and what it means for competitiveness.
For several weeks, Paramount was thought to be the frontrunner in the auction for Warner Bros. Discovery. Paramount executives, who want to buy all of Warner Bros. Discovery – including its cable assets – were confident about their merger proposal and their mutually beneficial relationship with President Donald Trump.
However, Netflix surprised many with the boldness of its bids as it agreed to the same costly breakup fee that Paramount proposed, according to reports. This means the would-be buyer will pay Warner Bros. Discovery billions of dollars if the deal is not completed.
“Our mission has always been to entertain the world,” said Mr Ted Sarandos, co-CEO of Netflix. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
Mr Greg Peters, the other co-CEO of Netflix, said the acquisition would “improve our offering and accelerate our business for decades to come,” adding: “Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities. With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders.”
“Today’s announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most,” said David Zaslav, President and CEO of Warner Bros. Discovery. “For more than a century, Warner Bros. has thrilled audiences, captured the world’s attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world’s most resonant stories for generations to come.”
The terms of the agreement will see each Warner Bros. Discovery shareholder receive $23.25 in cash and $4.50 in shares of Netflix common stock for Warner Bros. Discovery common stock share.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn










