MultiChoice loses 3.7 million subscribers in 24 months

MultiChoice, operator of DStv and GOtv, has warned its shareholders to prepare for more difficult times ahead, as the company grapples with a tough economic landscape.

The pay-TV giant has experienced a significant drop in its subscriber base, falling from over 23 million to 19.3 million in under two years.

According to reports, a large portion of this decline occurred outside of South Africa, with more than 84% of the affected subscribers being DStv customers.

In an earlier statement, MultiChoice attributed the sharp decline to economic challenges in key markets, particularly Nigeria.

“The loss in the rest of Africa has been primarily due to significant consumer pressure in Nigeria, where inflation has remained above 30% for much of the last year, and more recently, extreme power disruptions in Zambia,” the company explained.

In its latest voluntary operational update, prepared ahead of its financial results for the year ending March 31, 2025, MultiChoice emphasized the severity of its current situation.

The company acknowledged that the “challenging consumer environment has resulted in a decline in subscribers and limited revenue growth,” highlighting the financial strain it is under.

This news comes amid heightened regulatory scrutiny, as Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) recently filed charges against MultiChoice for allegedly breaching local regulatory directives.