MultiChoice Nigeria has reported a loss of 243,000 subscribers across its DStv and GOtv services between April and September 2024, attributing this decline to the country’s challenging economic conditions.
The company highlighted that high costs of food, electricity, and petrol have led many customers to discontinue their services. This trend is part of a broader pattern, as MultiChoice’s financial results for the year ending March 31, 2024, revealed an 18% year-on-year decline in active subscribers in Nigeria…….CONTINUE READING
Factors contributing to this downturn include the removal of fuel subsidies, sharp currency depreciation, inflation climbing to over 30%, and higher emigration of the middle and upper class. These economic challenges have forced consumers to prioritize basic necessities over entertainment expenses.
In response, MultiChoice has implemented cost-saving measures and is investing in its streaming platform, Showmax, to adapt to changing consumer preferences and mitigate the impact of declining traditional pay-TV subscriptions.
