MultiChoice, the parent company of DStv and GOtv, has announced a new increase in subscription prices, marking the second price adjustment within a year.
The new rates will take effect from March 1, 2025, with prices set to rise by at least 20% across various packages.
This move comes as the company faces declining subscriptions and economic challenges across its major African markets.
According to documents obtained by TechCabal and an email sent to customers, the new subscription rates are:
DStv Premium: ₦45,000 (previously ₦37,000)
DStv Compact Plus: ₦35,000 (previously ₦30,000)
DStv Compact: ₦19,000 (previously ₦15,700)
MultiChoice has cited inflation and foreign exchange challenges as reasons for the price increase.
The company’s 2024 financial report revealed a 9% drop in active subscribers across Africa, with Nigeria, Angola, Kenya, and Zambia witnessing a 13% decline.
The sharp depreciation of the naira alone reportedly caused a 32% loss in MultiChoice’s revenue when converted to US dollars.
To mitigate these economic challenges, MultiChoice has adopted a cost-cutting plan aimed at saving $113 million while introducing “inflationary pricing” to maintain revenue. However, with consumer spending under pressure, the rising costs have sparked concerns among subscribers already battling economic hardship.
This development follows similar price adjustments by streaming services like Netflix, signaling a shift in Africa’s entertainment industry.
Meanwhile, Nigeria’s Consumer Protection Commission and other regulatory bodies are yet to react to the latest price increase. In the past, such hikes have attracted public outcry and even legislative scrutiny due to MultiChoice’s dominance in the pay-TV market.