African Pay-TV operator, Multichoice Group, has blamed Nigeria’s economic challenges for the decline in DStv subscribers.
According to Multichoice, active subscribers in the country has reduced by 18 per cent.
The company disclosed this in its financial result for the year, which ended March 31, 2024.
According to Multichoice, the decline in Nigeria affected its overall subscriber base leading to a nine per cent decline for the year.
The total subscription figure for Nigeria was not stated as it is lumped with other operating units outside South Africa tagged as ‘Rest of Africa’ (RoA).
It reported that the 18 per cent decline in Nigeria brought the RoA’s total active subscribers down by 13 per cent to 8.1 million from 9.3 million in 2023.
Multichoice added that this also reduced Nigeria’s contribution to the Rest of Africa revenues from 44 per cent to 35 per cent.
It noted, however, that Ghana saw a similar subscriber trend given an inflation rate that is still above 20 per cent.
Multichoice further stated that due to the challenging market dynamics, the short-term focus of its RoA (Nigeria, Angola, Kenya, Ghana, and Zimbabwe) business was shifted from subscriber growth to safeguard profitability and cash flows.
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