e.TV’s profit surges
May 20, 2022
By Chris Forrester
Despite a plethora of OTT offerings as well as the well-established DStv pay-TV services in South Africa, it is clear that there’s plenty of life left in free-to-air commercial broadcasting, at least as far as eMedia and its e.TV broadcasting station is concerned.
eMedia saw its share price rocket earlier this week when it said it expected headline earnings (per share) to jump by as much as 301 per cent in its trading year to the end of March 2022.
eMedia said it had enjoyed “an extremely good year” despite the country’s tough economic conditions. Its only direct rival is public broadcaster SABC.
e.TV’s market share for the ‘all day’ and ‘primetime’ segments are 32.6 per cent and 35 per cent respectively and translate into the biggest broadcaster in both key categories.
“The return to the ‘new normal’ [following the Covid-19 pandemic] saw advertising revenue return to a state that was better than the financial year just before the pandemic caused the world and South Africa to come to a virtual standstill,” eMedia said in the trading statement to the Johannesburg stock exchange.
e.TVs ‘new normal’ has attracted growth in all-important advertising. The group’s TV ad-revenue ended up 29 per cent year-on-year, and helped by the rise in market share.