MultiChoice Nigeria, a subsidiary of South African pay-TV operator MultiChoice Group, has reported a loss of 243,000 subscribers on its DStv and GOtv services in Nigeria from April to September this year.
The company attributed this decline to Nigeria’s high inflation rate, which exceeds 30%, leading to rising costs of essential goods and services prompting many customers to disconnect.
MultiChoice also reported a 566,000-subscriber loss in its Rest of Africa operations over the past six months, with Zambia and Nigeria accounting for the largest shares of this decline.
Despite these challenges, MultiChoice Group CEO Calvo Mawela expressed optimism, stating that the company is making progress in addressing financial issues and expects the net equity position to recover by November.
The company is also investing in its streaming service Showmax, which has shown significant growth, positioning MultiChoice to participate in the streaming revolution across Africa.