JSE-listed investment holding company, Remgro, planned to launch e.tv online and eNCA online before the close of the first half of this year, it disclosed on Tuesday.
This is in an effort to develop a multi-channel plan aimed at boosting Remgro’s attractiveness across a number of platforms and improve chances of new revenue streams.
Remgro holds a 31.6 percent stake in Sabido, whose media interests include South Africa’s only private free-to-air television channel, e.tv, its sister news service, eNews Channel Africa (eNCA), Gauteng-based radio station and Yfm, according to BusinessTech..
Sabido’s contribution to Remgro’s headline earnings lifted to R78 million ($8.3 million) in the six months to December from R72 million in the previous reporting period.
“Despite aggressive growth in pay television, which is impacting on audience share for free-to-air services, e.tv has managed to hold its own against the increasing competition,” Remgro said in a statement.
All Media Products Survey (AMPS) figures for June 2012 showed a 2.6 percent growth for e.tv, ahead of the industry’s 1.2 percent growth, taking its reach to 16.5 million viewers.