MultiChoice, the company behind DStv, has faced a wave of cancellations in Nigeria. While the company blames the economic downturn, social media reveals a different story – one of frustrated customers feeling priced out and underserved.
Do you still subscribe to DSTV? What plan are you on? Here’s a glimpse into why Nigerians are ditching DStv:
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Price Hike Frustration: “The price increase is outrageous! We can’t keep paying more for the same channels and reruns,” commented [username] on [Platform, e.g., Xspace]. Many users echoed this sentiment, highlighting the lack of justification for the price hikes.
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Limited Value for Money: “DStv doesn’t offer much new content. I’m better off streaming for a fraction of the price,” shared [username] on [Platform]. This frustration points to a perceived lack of value proposition from DStv compared to streaming services.
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Repetitive Content: “Same old shows, recycled movies. It’s just not worth it anymore,” lamented [username] on [Platform]. The issue of repetitive content was a recurring theme, with users feeling they weren’t getting enough fresh programming for their money.
The rise of affordable streaming services with diverse content libraries provides Nigerians with alternatives. These platforms cater to local tastes and offer greater control over viewing habits, further impacting DStv’s appeal.
Nigeria’s Economic Woes Hit DStv Hard: Subscriptions Plunge 18% – MultiChoice
Pay-TV giant MultiChoice attributes an 18% drop in active DStv subscribers in Nigeria to the country’s current economic climate.
This information was revealed in their financial results for the year ending March 31, 2024.
The decline in Nigeria significantly impacted MultiChoice’s overall subscriber base, leading to a 9% decrease year-on-year.
MultiChoice explained that Nigerian consumers faced significant hardships in FY24, including:
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- Removal of fuel subsidies
- Sharp devaluation of the Naira (currency)
- High inflation exceeding 30%
- Increased emigration of middle and upper-class Nigerians
- These factors, according to MultiChoice, forced many Nigerians to prioritize basic necessities over pay-TV subscriptions.
- Due to these challenging market conditions, MultiChoice says their focus for the “Rest of Africa” (RoA) segment, which includes Nigeria, has shifted from subscriber growth to prioritizing profitability and maintaining cash flow.