MultiChoice Nigeria, a subsidiary of South African media giant MultiChoice Group, has reported a significant loss of subscribers in the first half of 2024. The company attributed this decline to Nigeria’s challenging economic conditions, marked by high inflation and rising costs of living.
Between April and September 2024, MultiChoice Nigeria lost 243,000 subscribers across its DStv and GOtv platforms. This follows a previous loss of 18% of its Nigerian subscriber base in the fiscal year ending March 2024.
The broader Rest of Africa operations also experienced a decline of 566,000 subscribers during the same period. Zambia and Nigeria were the primary contributors to this loss, with 298,000 and 243,000 subscribers lost, respectively.
While the rate of subscriber decline has slowed compared to the previous six months, the economic pressures in Nigeria and other African markets remain a significant challenge for MultiChoice.