Multichoice Group, Africa’s major pay-TV provider, has reported a steep decline in its Nigerian subscriber base, with 1.4 million users lost between 2023 and 2025. This was revealed in the company’s audited financial results for the year ending March 31, 2025.
Despite increasing subscription fees for its DStv and GOtv services three times during that period, Multichoice Nigeria couldn’t stop the subscriber exodus. The company blamed the loss on several pressing issues, including:
- Skyrocketing inflation rates (above 30% in Nigeria and Angola)
- Widespread fuel shortages
- Frequent power grid failures
Nigeria: The Epicenter of Subscriber Losses
According to the company, Nigeria alone was responsible for 77% of the total subscriber loss across its operations in the “Rest of Africa” (RoA) segment, which excludes South Africa.
- In total, RoA lost 1.8 million subscribers over two years.
- The subscriber count dropped from 9.3 million in 2023 to 7.5 million in 2025.
Signs of Stabilization in 2025
While 2024 was the worst year in terms of subscriber decline—with 1.2 million users lost—there was some relief in 2025, as the pace of decline slowed:
- 2024: 13% drop (from 9.3 million to 8.1 million)
- 2025: 7% drop (from 8.1 million to 7.5 million)
Multichoice attributed the continued downward trend to a combination of factors including:
- Power outages in Zambia, Zimbabwe, and Malawi
- Civil unrest in Mozambique
- Persistent infrastructure and economic challenges in Nigeria
Group Performance Takes a Hit
Multichoice’s overall business performance also suffered due to the tough economic climate across sub-Saharan Africa, as well as global industry changes. Some key financial highlights from the 2025 report include:
- Revenue dropped by ZAR5.2 billion (9%), falling to ZAR50.8 billion.
- Subscription income took a hit due to both currency devaluation and declining user numbers.
- Trading profit fell by nearly half—ZAR3.8 billion down YoY, settling at ZAR4.0 billion.
- A major blow came from Showmax, its streaming platform, which contributed a ZAR2.3 billion loss in trading.
- The Group also lost ZAR5.2 billion in revenue due to foreign exchange challenges.
Price Hikes and Customer Frustration
Multichoice Nigeria raised its subscription fees three times in just over a year:
- April 2023
- November 2023
- May 2024 (announced in April 2024)
These frequent hikes, during a time of economic strain, may have contributed to the mass subscriber exit. With the user base continuing to shrink, it remains to be seen whether Multichoice will implement yet another price increase.