The JSE top 40 got a new member this quarter when MultiChoice was unbundled from Naspers. MultiChoice owns DStv, the dominant pay-TV business in SA, with more than 7-million subscribers. Most people know the product, but there are some things about the business they are unlikely to be aware of. 

People watch a lot of TV. In the UK, the average adult watches three hours per day. That’s live TV. He then watches a further two hours of recordings, DVDs and YouTube. The UK is not an outlier — other countries have similar stats. In SA 9-million people regularly watch Uzalo and 8-million watch Generations, both on SABC 1. About 7-million households get their TV from MultiChoice’s DStv...

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