The curtains are closing on 1Magic, DStv’s premium channel, as Multichoice pulls the plug on this once-promising venture.
Multichoice ready to pull the plug on 1Magic channel
A trusted source reveals that 1Magic will officially be no more, with its scheduled shutdown slated for early February.
This move redirects all shows initially intended for 1Magic to find a new home on Mzansi Magic.
1Magic, recognised as DStv Channel 103, was once touted as a beacon of premium content catering to South Africa’s black middle-class audience.
However, its journey seems to have hit a dead end, potentially due to a lack of substantial buy-in from its targeted demographic. The channel’s dissolution raises questions about Multichoice’s strategies to maintain and grow its premium black subscriber base.
The future of the shows that were earmarked for 1Magic is now seemingly secure, with Mzansi Magic set to be their new platform. This shift, while practical, might leave fans nostalgic for what 1Magic could have been – a dedicated channel with a distinct identity and offerings.
The demise of 1Magic comes amid broader concerns for Multichoice.
Africa’s largest media conglomerate’s revenue for the financial year ending 30 September 2023 totalled R28.3 billion, a 1% decrease from the R28.65 billion recorded in the same period in 2022.
In its annual financial report, released on Wednesday, Multichoice attributed the negative revenue outcome to weaker local exchange rates and decreased subscribers, despite inflation-driven price hikes.
Subscription fees, a major revenue component, fell from R23.8 billion to R23.337 billion.