The News
Africa’s largest pay TV company MultiChoice lost 1.7 million subscribers in the six months to September, largely due to inflationary pressures and power shortages in key markets.
South Africa-based MultiChoice, which ended the period with 14.9 million subscribers, saw its revenue fall by 11% to $1.3 billion while its net losses widened to $100 million, from $51 million a year ago.
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The group — whose brands include DStv, GOtv, and Showmax — said Zambia and Nigeria shed the most subscribers, losing 298,000 and 243,000 respectively. The decline in Zambia was attributed to frequent power outages. In Nigeria, rising food, fuel and electricity prices prompted subscribers to drop the service.
It also lost 184,000 subscribers in its home market of South Africa but kept revenue flat. The improved performance was driven by a months-long period without load-shedding and positive market sentiment around the coalition government.