MultiChoice, Africa’s leading entertainment platform, has told its shareholders to brace for more difficult times ahead, as it is operating in a challenging consumer environment.
MultiChoice, which operates DStv, has seen its 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 the tv operator said “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.”
In its voluntary operational update, the group said it is preparing its financial results for the year ending 31 March 2025.
The announcement to shareholders said the challenging consumer environment has resulted in a declined in subscribers and limited revenue growth.
