South African pay-TV giant, Multichoice Group, has reported a substantial drop in its Nigerian subscriber base, losing 243,000 subscribers from its DStv and GOtv services between April and September 2024.
This decline, detailed in the company’s Interim Financial Results released Tuesday, covers the six-month period ending September 30.
Multichoice attributed the subscriber loss to Nigeria’s high inflation rate, which has exceeded 30%, making TV subscriptions increasingly unaffordable as food, electricity, and fuel costs soar for many households.
In a previous report for the fiscal year ending March 2024, Multichoice had noted an 18% decline in its Nigerian subscriber base, although specific figures were not disclosed.
The company also reported continued subscriber losses across its Rest of Africa markets, totaling 566,000 in the period under review. This marks an improvement over the previous six months, which saw a loss of 803,000 subscribers.
Multichoice identified Zambia and Nigeria as the hardest-hit markets, with Zambia’s subscriber base declining by 298,000 and Nigeria’s by 243,000, while other African markets saw only a modest decline of 25,000 subscribers.
The group stated, “With the Rest of Africa business having seen a decline of 803k subscribers in 2H FY24, this rate of decline slowed to 566k in 1H FY25.
“Of this decline, 298k related to Zambia and 243k related to Nigeria, with remaining markets on the continent reflecting only a minor decline of 25k.”
Additionally, in June, Nigeria’s Competition and Consumer Protection Tribunal ordered Multichoice to provide subscribers with a one-month free subscription. The tribunal also fined Multichoice Nigeria ₦150 million for challenging the court’s jurisdiction, after ruling that Multichoice must give proper notice before increasing subscription fees.
