MultiChoice, owners of Dstv and Gotv has seen its revenue crash.
This is as Africa’s leading entertainment provider and operator DStv warned shareholders to brace for tougher times as the company struggles in a challenging economic climate.
The pay-TV giant also saw its subscriber base, dropping from over 23 million to 19.3 million in less than two years.
According to NewsPoint Nigeria, sources said that a significant portion of the losses occurred outside South Africa, with over 84% of the affected users being DStv customers.
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% for the majority of the last 12 months and, more recently, due to extreme power disruptions in Zambia,” the company said.
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 noted that the “challenging consumer environment has resulted in a decline in subscribers and limited revenue growth,” underscoring the financial strain faced by the company.
This development came amid increasing regulatory scrutiny, with Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) recently filing charges against MultiChoice for allegedly violating local regulatory directives.