Multichoice Nigeria has reported a loss of 1.4 million subscribers over the past two years, a decline largely attributed to multiple price increases and difficult economic conditions in the country.
The pay-TV operator raised its DStv and GOtv subscription prices three times between April 2023 and May 2024. These increments coincided with Nigeria’s high inflation rate, which exceeded 30%, as well as ongoing power outages and fuel shortages that have strained consumer spending.
According to the latest audited results released by Multichoice Group for the year ended March 31, 2025, Nigeria accounted for 77% of the 1.8 million subscriber losses recorded across the Rest of Africa operations during this period. The total subscriber base in the region fell from 9.3 million in 2023 to 7.5 million in 2025.
The company noted that while subscriber losses slowed somewhat in the 2025 financial year, declining 7% compared to a 13% drop in 2024, the overall trading environment remains challenging. Multichoice’s revenue dropped 9% year-on-year to ZAR50.8 billion, with subscription revenue falling 11% due to fewer customers and foreign currency pressures.
Multichoice also highlighted structural changes in the video entertainment industry, such as the rise of streaming services and piracy, as factors impacting its traditional pay-TV business.
John Ugbe, CEO of Multichoice Nigeria, said the company is navigating a tough economic landscape that has affected consumer affordability and access. “Inflation and power shortages have put significant pressure on our customers, leading to a decline in subscriber numbers,” Ugbe stated.
As the company continues to adapt to these challenges, it remains uncertain whether further price adjustments will be announced, given the steady decline in its customer base.
