MultiChoice, Africa’s leading entertainment provider and operator DStv, has warned shareholders to brace for tougher times as the company struggles in a challenging economic climate.
MultiChoice has seen its DStv subscribers decline from over 23 million to 19.3 million in less than two years.
A huge portion of the subscriber loss happened outside its home of South Africa.
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.
