This is Follow the Money, our weekly series that unpacks the earnings, business, and scaling strategies of African fintechs, financial institutions, companies, and governments. A new edition drops every Monday.
MultiChoice still dominates Africa’s broadcasting market with 14.5 million subscribers, but its fast-growing bets now sit outside traditional television: in decoder-free Internet streaming and payments.
The company, which previously operated the now-shuttered Showmax streaming platform, is now leaning on a two-pronged strategy built around DStv Stream, its premium Internet TV service, and payments business, Moment, to offset pressure on its traditional pay-TV operations.
DStv Stream reflects Canal+’s effort to streamline MultiChoice’s overlapping streaming bets after years of heavy losses and rising platform costs at Showmax, in a market where subscriber scale never matched the level of investment. Rather than exiting streaming, MultiChoice is consolidating around higher-margin businesses as it seeks more capital-efficient sources of growth.
Why DStv Stream works better
