MultiChoice said that organised crime networks fuel the illegal streaming market and leave consumers exposed to data privacy threats and financial risks. Picture: Nappy.co
MultiChoice has waned customers that using pirated devices could lead to your data being breached which could lead to identity theft.
The company noted this after it reported that it had helped nab two major piracy kingpins in Johannesburg earlier this week.
The company that owns DStv worked with law enforcement agencies including the Hawks to conduct two successful anti-piracy operations in Booysens and Kempton Park.
MultiChoice said that organised crime networks fuel the illegal streaming market and leave consumers exposed to data privacy threats and financial risks.
“Using pirated devices poses a considerable danger to the public, as individuals paying for unauthorised services risk having their personal information, including payment details, tracked and exploited by criminal syndicates,” the company said.
MultiChoice said that these criminals not only profit from illegal content distribution but in addition make money from breaching consumer data which leads to fraud and identity theft.
Multichoice has been under considerable financial strain and in June reported an incredible R4.1 billion loss for the year ending March 31, 2024, as it has become technically insolvent.
The group reported a 30% drop in full-year operating profit and said it was hit by inflationary pricing across its markets, constrained consumer spending, and currency volatility.
“Group revenue increased by 3% on an organic basis. However, due to weaker local currencies and consumer pressure, reported group revenue declined by 5% to R56 billion,” MultiChoice said.
The company also noted a 21% decline in group trading profit to R7.9 billion.
MultiChoice declared that its operating profit, excluding interest income, fell to R7.1 billion from R10.2 billion rand for the year ending March 3, 2024.
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