Lucky Obukohwo, Reporting
MultiChoice, Africa’s leading entertainment provider and operator DStv, has warned shareholders ahead of the gloomy days, urging them to brace up as the company grapples with economic challenges.
This is as the South Africa based pay TV said it has host nearly four million subscribers within two years.
Reports said MultiChoice has seen its DStv subscribers decline from over 23 million to 19.3 million in less than two years.
A huge portion of the subscribers loss happened outside its home of South Africa.
In an earlier statement, MultiChoice attributed the steep decline to economic pressures in key markets, particularly, Nigeria.
“The loss in the rest of Africa has been primarily due to the significant consumer pressure in Nigeria, where inflation has remained above 30 percent for the majority of the last 12 months and, more recently, due to extreme power disruptions in Zambia,” the company added.
The company’s latest voluntary operational update, released in preparation for its financial results for the year ending March 31, 2025, reinforces the severity of its current challenges.
MultiChoice said that the “challenging consumer environment has resulted in a decline in subscribers and limited revenue growth,” underscoring the financial strain faced by the company.