eMedia Group Announces Strong Interim Results with Improved Revenue and Strategic Growth

eMedia Group has reported positive financial results for the first half of the 2024 financial year, reflecting a recovery in the South African economy and a break from frequent loadshedding. The period saw a boost in television viewership, positively impacting television advertising revenue, which increased by 8% to R1.135 billion, compared to R1.056 billion in the previous period. The sustained prime-time market share and e.tv’s position as the country’s leading channel were major contributors to this growth.

Despite challenges, such as legal costs related to a dispute with MultiChoice, the Group’s multichannel business, including Openview and its popular channels eExtra, eMovies, and eMovies Extra, saw an increase in market share from 13.1% to 13.5%. Openview reached a milestone of 3.5 million activations, reinforcing its strong position in the Direct To Home (DTH) market.

The Group also focused on technological advancements to remain competitive in the broadcasting industry, aiming to lead local market innovation. With the successful settlement of the legal issues with MultiChoice, eMedia remains optimistic about future growth.

In light of the positive results, eMedia Group has declared a cash dividend, underscoring its financial stability and continued growth.