African pay-TV operator MultiChoice Group announced a significant loss of 243,000 subscribers in Nigeria across its DStv and GOtv platforms between April and September 2024, as revealed in its Interim Financial Results ending 30 September 2024.
The company attributed this sharp decline to Nigeria’s soaring inflation rate, which currently surpasses 30%, largely due to the escalating costs of essentials like food, electricity, and fuel. Many customers, burdened by these rising expenses, have chosen to disconnect from MultiChoice’s services.
The report also showed wider subscriber losses across MultiChoice’s operations, with an additional 566,000 customers lost in other African markets. Nigeria and Zambia, where severe power disruptions have compounded consumer challenges, led these declines. Zambia recorded a drop of 298,000 subscribers, while Nigeria’s 243,000 drop represented the largest individual market decline.
MultiChoice noted, “The group’s linear subscriber base declined by 11%, or 1.8 million subscribers year-on-year, to 14.9 million active subscribers as of 30 September 2024.”
Meanwhile, some Nigerian customers are voicing their dissatisfaction on social media, with many considering alternative streaming options. On the platform X, user @AGUNviews predicted further losses for the company, while @Jaheim007 claimed, “The numbers are about to triple.” Others, like @ribaduabubakar2, criticized MultiChoice’s pricing policies, expressing relief in switching to other services.
The prevailing sentiment reflects frustration over high subscription rates, with @Ekoh4Ekoh advocating for a “pay-as-you-go” option to reduce costs and encourage retention. Another user, @cashoggy, commented, “Internet and smart TV have rendered DStv unattractive with their rate. Imagine paying 25,700 for a premium subscription when you can surf the Internet and watch all the programs for less.”
In response to these concerns, MultiChoice has yet to announce any pricing adjustments, though its financial performance highlights the challenges it faces in retaining subscribers amid rising economic pressures and competition from online streaming services.
