City, Nigeria — Omo, MultiChoice no fit hide am again! Dem report say their subscription revenue don drop by 44 per cent, wahala! Last financial year, dem make $197.74 million, but e don fall from $355.93 million wey dem get the year before. Na inflation and bad economy make many people pack their things and waka comot.
According to the report wey just land from the company, na 1.4 million subscribers don vanish for Nigeria since March 2023. Naija alone dey carry 77 per cent of the 1.8 million subscribers wey dem lose across Africa, and abeg, other countries like Kenya and Angola no dey help…
Inflation for April stand at 23.71 per cent, meaning say people dey feel tight pocket. Between April and September 2024, MultiChoice lose another 243,000 subscribers, and naim dem sabi say na bad macroeconomic matter dey make things dey worse.
As of March 2025, dem get total of 14.5 million subscribers, with only 7.5 million dey under ‘Rest of Africa’ category. Go figure! Na the naira wey don dey lose value too contribute to their wahala, as dem report foreign exchange loss of $158.19 million. Last year e be like say dem fit send $184 million, but now na only $133 million.
The CEO, Calvo Mawela, no fit hide the truth. Him talk say, “Nigeria’s economic challenges don really spoil our Rest of Africa businesses, causing 23 per cent drop in revenue to $779.66 million.” Including South Africa, all dem subscription revenue don drop 11 per cent year-on-year to $2.27 billion. E no sweet for their side!
Business dey bad, as overall revenue drop nine per cent to $2.87 billion, and operating profit don drop by 34 per cent go $263.50 million. Trading profit na almost half wey dem see drop to $228.14 million. But no be say all be wahala, MultiChoice still dey see some growth for digital and streaming side. DStv Internet dey rise like phoenix, plus Showmax and others wey dey attract people back!
Mawela still dey hopeful, say dem strategy wey dey focus on technology and changing consumer behaviour go help them stay strong for future. E no easy for the pay-TV industry, but dem dey try manage costs and look for long term growth opportunity. Who go fit win this battle? Only time go tell! (But make we dey watch as e dey unfold.)
