eMEDIA investments PROPRIETARY Limited (eMEDIA investments)
Remgro has an effective interest of 32.3% in eMedia Investments that has a range of media interests, which include South Africa’s only private free-to-air television channels (e.tv, eMovies, eExtra, eToonz and eReality), eNews Channel Africa (eNCA), free-to-air satellite platform Openview, Gauteng-based radio station, Yfm, and various studio facilities and production businesses.
eMedia Investments has a March year-end and therefore its results for the year to 31 March 2019 have been included in Remgro’s results for the year under review. eMedia Investments’ contribution to Remgro’s headline earnings for the period under review amounted to R39 million (2018: R1 million).
e.tv’s share of broadcast audience grew to 19.2% in primetime (March 2018: 15.0%) and maintains its position of being the second most watched channel in the country. The flagship shows, Scandal and Rhythm City, have maintained their viewership throughout the fiscal year. Imbewu, the new local drama that launched on e.tv, has been a top performing show in its timeslot.
The Openview platform has increased the number of activated set-top boxes to over 1 570 000 (31 March 2018: 1 149 217). This platform currently attracts 7.3% of the television audience in South Africa. Advertising revenue on the platform increased by 118.6% from the previous financial year. Openview is set for an operational break-even point within the next 24 months.
eNCA has seen a 3% increase in revenue from April 2018 to March 2019, which is a positive sign for the eMedia group. The channel is ranked as the most watched news channel in the country.