Multichoice: 243,000 DStv, GOtv subscribers inactive

African pay-TV operator, MultiChoice Group, has said its Nigerian subsidiary lost 243,000 subscribers across its DStv and GOtv services between April and September this year.

According to its financial result for the year ended September 30, 2024, published yesterday, MultiChoice said the high cost of food, electricity and petrol forced many of its customers to abandon their decoders.

It said Nigeria and Zambia recorded the largest share of subscriber loss, adding that the pressure on its subscriber base in the Rest of Africa (RoA) operations continued from the previous year leading to a loss of 566,000 subscribers across the operations during the six months under review.It also posted a dip of five per cent in its South African operation.

“The group’s linear subscriber base declined by 11 per cent or 1.8million subscribers Y-o-Y (year-on-year) to 14.9million active subscribers at 30 September 2024.

“The loss in the RoA has been primarily due to the significant consumer pressure in Nigeria, where inflation has remained above 30per cent 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,”MultiChoice said.

The company said the continued naira depreciation against the dollar has resulted in further losses on non-quasi-equity loans.

The group held $11million in cash in Nigeria at period-end, down from $39million at end FY24, a consequence of consistent focus on remitting cash, the impact of translating the balance at the weaker naira and the write-off of the $21million receivable relating to the cash held with Heritage Bank before its license was revoked and the bank was liquidated.

For Diaspora Digital Media Updates click on Whatsapp, or Telegram. For eyewitness accounts/ reports/ articles, write to: citizenreports@diasporadigitalmedia.com. Follow us on X (Fomerly Twitter) or Facebook