MultiChoice, a leading entertainment platform in Africa, has cautioned its shareholders to anticipate continued challenging market conditions, as it navigates a difficult consumer environment.
MultiChoice, the operator of DStv, has experienced a reduction in its subscriber base, declining from over 23 million to 19.3 million in a period of less than two years.
A significant portion of this subscriber loss occurred outside of its primary market, South Africa.
In a prior communication, the television operator attributed this decline to “the significant consumer pressure in Nigeria, where inflation has remained above 30% for the majority of the last 12 months, and, more recently, to severe power disruptions in Zambia.”
In its voluntary operational update, the group disclosed that it is currently preparing its financial results for the fiscal year ending March 31, 2025.
The communication to shareholders conveyed that the challenging consumer environment has resulted in a reduction in subscribers and constrained revenue growth.
