Contribution to headline earnings 30 June
2021
R million 
30 June
2020
R million
eMedia Investments 43 78
Other 10
53 78

PROFILE:

eMedia Investments has a range of media interests, of which e.tv is the most significant. eMedia Investments is the only independent free-to-air television broadcaster in South Africa.

Corporate information

Equity valuation at 30 June 2021 R1 705 million
Unlisted
Chief Executive Officer M K I Sherrif
Remgro nominated directors H J Carse, N J Williams

Sustainability measures

CSI/Training spend R21 million
Number of employees 1 009
BBBEE status Level 3
Environmental aspect Scope 1 and 2 emissions of 7 502 tonnes CO2e
Financial highlights Year ended 31 March 2021 
R million 
Revenue 2 429 (2.5)
Operating profit 212 (34.4)
Headline earnings 132 (44.9)

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, eMovies Extra, eExtra, eToonz and eReality, news and sports), 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 2021 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 R43 million (2020: R78 million).

eMedia Investments’ share of television audience grew to 29.6% (March 2020: 24.6%), while e.tv’s share of prime-time has increased from 17.4% to 20.3%. This was driven by the performances of all the channel’s daily shows, i.e. Imbewu: The Seed, Scandal and Rhythm City as well as the launch of Durban General. Based on audience numbers of its own channels for June 2021, eMedia is South Africa’s largest television broadcaster.

The Openview platform has increased the number of activated set-top boxes to 2 545 818 at 31 August 2021 (31 March 2020: 1 992 844), with approximately 35 000 monthly activations. Advertising revenue on the platform increased from R194 million in 2020 to R270 million in 2021.

eNCA continues to be the most watched 24-hour news channel in the country (among LSM 8 to 10) with 50% of the market share despite only being on the premium bouquets on DStv while SABC and Newsroom are on all DStv bouquets. Through the pandemic eNCA has achieved its advertising revenue targets while its costs were being well maintained.

Most of the group’s other subsidiaries were greatly impacted by the pandemic, particularly certain subsidiaries that do a large part of their business with international film producers. There has however been some recovery since the country moved to lower levels of the lockdown and with international travel now being open again.

With the sale and closure of certain non-core assets during the year, the eMedia Investments is now focused on its core businesses of broadcasting, content creation and being a platform and technology provider for broadcast services.