New DStv, GOtv Subscription Price Effected Despite Public Outcry
The upward adjustments came barely three months after MultiChoice increased its subscription rate for Nigerian customers.
It hinged the latest review on the implementation of 7.5 per cent Value Added Tax (VAT) introduced by the Federal Government.
A statement by the company said the decision was made after a review of its business operations and careful consideration of the market trend.
Its Chief Executive Officer John Ugbe said in a statement: â€œWe have made efforts to contain any price adjustments on subscription prices. However, in order to ensure the sustainability of the business we have to consider financial impacts, including inflation as well increased content and operational costs.
â€œAs such we have reviewed the prices of some of our bouquets so that we can continue to survive as a business and bring quality entertainment to our customers.
â€œTo arrive at the decision to adjust prices, we took into account many factors, including the impact on the customer, current inflation, which stands at 12.82 per cent, the highest in 27 months; content costs and efficiencies within the company.â€
The adjustment affected packages on the DStv and GOtv platforms.
With the adjustment, DStv Compact subscribers have their subscription raised by 13.3 per cent (N7, 900 up from N6, 975).
DStv Compact Plus subscribers have their rates increased by 9.8 per cent from N10, 925 to N12, 000. The DStv Premium was increased from N16, 200 to N18, 400 (13.6% hike).
The notification to increase the price came few days after House of Representatives summoned the companyâ€™s management to explain the last price hike in June.