Our strategic priorities Key strategic priorities MultiChoice SA is part of the MultiChoice Group, and the detail of the strategic elements MultiChoice SA drives in that context is shared below. In an evolving video entertainment industry, a differentiated content strategy is key to success. Our strength lies in our local content expertise, the appeal of our sports offering and our ability to aggregate and connect our viewers to a full-service video entertainment offering. Our signi cant and growing investment in local content sets us apart from international competitors, especially as South African viewers love to see content in their own languages, with local actors and stories that resonate culturally. Demand for local content continues to exceed our supply, and local content is cheaper to produce on average per hour with lower currency risk than international content. We also have greater control and exibility in how we leverage owned content across our packages. On the sports front, we remain committed to exciting customers with the best in local and global sport while carefully managing the cost of acquiring sports broadcasting rights to ensure that we can run a sustainable business. We are the largest funder of sport in South Africa and our local production capability is unmatched and is globally recognised by peers and sports bodies for its professional expertise and quality, e.g. we will be the host broadcaster for the 2023 Netball World Cup. We also ensure that our subscribers enjoy a compelling international general entertainment content offering through licensed series, lms and channels, and through access to MultiChoice Group and third-party streaming services on our connected devices. The video entertainment industry has undergone a fundamental shift and created new ways for us to engage with our customers as they opt for a portfolio of entertainment options rather than one dedicated provider. An opportunity therefore exists for an aggregator like us to provide a single, seamless customer interface to an entertainment platform of choice in the home. Our connected device and aggregation strategy aims to ensure that our traditional broadcast business captures this nascent but compelling long-term opportunity. Lead in content aggregation and differentiate in local and sports content Overview Introduction Understanding Phuthuma Nathi Understanding MultiChoice SA MultiChoice SA performance Financial review Corporate governance review Shareholder information Phuthuma Nathi Investments (RF) Limited Integrated annual report 2023 49
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