MultiChoice Revenue Drops as Millions Cancel DStv, GOTV Subsc

Massive Subscriber Loss: MultiChoice has lost nearly 4 million DStv subscribers in less than two years, with over 84% of the losses occurring outside South Africa.
Economic Challenges: High inflation in Nigeria (above 30% for the past year) and severe power outages in Zambia have been major factors in the decline.
Regulatory Pressure: Nigeria’s consumer protection agency has taken legal action against MultiChoice for allegedly failing to comply with local regulations.

MultiChoice, the company that owns DStv, has warned its investors to prepare for difficult times ahead.

The company has been struggling financially due to economic challenges in key markets, leading to a major decline in its subscriber base. In less than two years, the number of DStv subscribers has dropped from over 23 million to 19.3 million.

A large part of these losses came from outside South Africa, with over 84% of the affected users being DStv customers. Nigeria, one of MultiChoice’s biggest markets, has been hit the hardest due to high inflation, which has stayed above 30% for most of the past year.

Additionally, extreme power shortages in Zambia have also contributed to the decline in subscribers.

In its latest financial update, MultiChoice admitted that the difficult economic situation has made it hard to attract and retain customers.

The company noted that the challenging consumer environment has not only led to a drop in subscribers but has also slowed revenue growth.

At the same time, MultiChoice is facing increasing regulatory pressure in Nigeria. The country’s Federal Competition and Consumer Protection Commission (FCCPC) recently took legal action against the company, accusing it of failing to follow local regulations.

As the company prepares to release its financial results for the year ending March 31, 2025, MultiChoice is bracing for more challenges ahead.