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MultiChoice Nigeria Loses Subscribers: Multichoice Group, an African pay-TV operator, says its Nigerian subsidiary lost 243,000 subscribers across its DStv and GOtv services between April and September 2024.
This decline was disclosed in the company’s Interim Financial Results, released on Tuesday, for the six months ending September 30.
According to the company, the high inflation in Nigeria at over 30% driven by the high cost of food, electricity, and fuel forced many of its customers to ditch their decoders.
While the actual figure was not disclosed at that time, Multichoice had also declared the loss of 18% of its Nigerian subscribers in its financial report for the year ended March 2024.
The company added that the pressure on its subscriber base in Rest of Africa Operations continued from the previous year leading to a loss of 566,000 subscribers across the operations in the six months under review.
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The company highlighted that Nigeria and Zambia recorded the largest share of subscriber loss.
It added that the pressure on its subscriber base in Rest of Africa (RoA) operations continued from the previous year leading to a loss of 566,000 subscribers across the operations in the six months under review.
The group’s linear subscriber base declined by 11% or 1.8m subscribers YoY to 14.9m active subscribers at 30 September 2024,” MultiChoice said.
“The loss in the Rest of Africa has been primarily due to the significant consumer pressure in Nigeria, where inflation has remained above 30% for the majority of the last 12 months and, more recently, due to extreme power disruptions in Zambia.
“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.”
While inflation is blamed for the loss in Nigeria, the company attributed the loss in Zambia to drought-driven power outages of up to 23 hours a day.
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