MultiChoice has released its annual results for the year ended 31 March 2019, which revealed a significant decline in DStv Premium subscribers.
Though MultiChoice didn’t reveal how many DStv Premium subscribers it lost, it admitted that its top segment was suffering due to competition and a difficult economy.
MultiChoice DStv results released 31st of March in 2018 show as that the company lost 431,000 premium subscribers. Premium subscribers base has been experiencing decline since 2015.
Initially, MultiChoice blames Netflix for its woes and decline, but now, they are blaming the tough economy condition. Subscribers are canceling their Premium accounts, migrating to smaller packages without any genuine reasons.
This is not the first time the DStv Premium subscriber’s base has declined. In fact, subscriber numbers in this segment have been declining since 2015.
As at now, not everybody can afford DStv Premium, and those who can afford it barely watch more than 3 channels, hence the clamoring for PAYU services.
The company previously blamed competition from Netflix as the main reason for this decline, but has now added tough economic conditions and affordability to the mix.
The simple truth is that many DStv Premium subscribers are tired of paying N15,800 (R809) per month for the service, and on top of that be charged for PVR functionality.
MultiChoice’s results presentation showed that the company’s Premium subscriber mix decreased from 22% to 20%, with its Premium subscriber growth decreasing by 7%.
However, MultiChoice has seen significant growth across its ShowmaX and DStv Now app. The number of online subscribers also doubled compared to last year.