That said, we still see potential for our mass and mid-market subscribers to follow an upgrade journey over time as economic circumstances improve. In this regard, we have implemented upgrade strategies such as open periods and episode previews to help customers discover shows that they might enjoy on higher packages. In addition, our longer-term ambition is to stabilise and then improve average revenue per user through a focus on an improved core value proposition for our subscribers and the introduction and scaling of additional value-added services like our internet and on-demand emergency response products. Digitalisation remains a core focus We strive to create digital customer experiences supported by clear design principles of “easy to join”, “great to stay” and “watch your way”. Our customer ecosystem is now fully digitised such that a customer can join, watch, pay, get help and be rewarded entirely online in a PC or mobile environment. In digital customer service, our efforts continue yielding positive results for the business and create convenience for our customers. Our WhatsApp, web and DStv app self-service platforms continue delivering a strong uptake with overall user growth of 3m. Digital payments grew by 33% YoY, and our self-service channels overall account for 75% of all customer interactions, reducing the need for in-person contact. 2.8m DStv Insurance customers (FY22: 2.4m) Our insurance business grew its customer base by 19% YoY in FY23 (FY22: 11%). Our current product stack includes device and life products (subscription waiver, funeral and debt waiver) which are showing good growth in the market. Growth over the past year was mainly driven by our life products which grew by 345% YoY, while our more mature device Insurance business still showed decent growth at 4% YoY. 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 57
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