MultiChioce, the parent company of DStv and GOtv, has announced that it has lost around 2.8 million subscribers as economic challenges continue to take hit hard on households across its African markets.
Its financial reports for the fiscal year that ended on March 31 (FY25), which were made public on the Johannesburg Stock Exchange (JSE) in South Africa, made this clear.
According to the firm, difficult macroeconomic variables have caused major financial upheaval for economies, corporations, and consumers throughout sub-Saharan Africa (SSA) over the last two fiscal years.
It stated that this has had a significant influence on the MultiChoice Group’s overall performance, especially when paired with the effects of structural industry changes in the video entertainment sector, such as the growth of social media, streaming services, and piracy.
MultiChoice further reported that it lost 2.8 million active linear subscribers during this time and had to absorb a negative impact of R10.2 billion on its topline due to the local currency’s depreciation versus the dollar.
Amid the challenges, MultiChoice stated that its management acted decisively to ensure that the group could withstand these turbulent times, focusing on key areas within its control.
MultiChoice Group CEO, Calvo Mawela, said: “Our performance reflects both the challenges we’ve faced and the resilience of our teams. While macroeconomic pressures and currency volatility have weighed on our results, our disciplined execution, cost management and investment in new long-term growth opportunities position us well for the future.
“We remain focused on being Africa’s entertainment platform of choice. Our strategy is shaped by developments in our industry such as changes in technology which are driving shifts in consumer behaviour, as well as the impact of rise in piracy, streaming services and social media.”
