MultiChoice Group, the Johannesburg-based pay television behemoth, has plunged into a headline loss of 800 million Rand, about $45.13 million, for the fiscal year ending March 31, 2025—an abrupt reversal from the 1.3 billion rand ($73.37 million) in profit posted a year earlier.
The loss, disclosed in its latest earnings statement on Wednesday, underscores the bruising economic headwinds battering African markets.
With inflation galloping, currencies buckling, and consumer spending in retreat, the broadcaster cited “unprecedented financial pressure” as the catalyst for its poor showing.
“Economic challenges across our operating territories have continued to place substantial pressure on our business,” MultiChoice said, lamenting that the squeeze on household incomes and corporate budgets had eroded subscriber growth and intensified operational strain.
The group’s financial woes arrive at a sensitive juncture, as French media conglomerate Canal+ continues its steady acquisition of shares in MultiChoice, igniting speculation over a fullscale takeover.
The corporate maneuvering, set against a backdrop of macroeconomic volatility, complicates the company’s long-term strategy in an increasingly digital entertainment battlefield.
Despite the loss, Multi-Choice maintains it is committed to driving efficiency, controlling costs, and investing in locally resonant content to retain market relevance in sub-Saharan Africa, where its flagship platforms— DStv and GOtv—remain household staples.
However, competition from international streaming giants and shifting consumer tastes have forced Multi-Choice to adopt aggressive pricing strategies, especially in Nigeria. In March 2025, the company raised its DStv Premium bouquet to ₦44,500 from ₦37,000 and Compact+ to ₦30,000 from ₦25,000—triggering public outcry and regulatory intervention.
The Federal Competition and Consumer Protection Commission (FCCPC) responded swiftly, summoning Multi-Choice Nigeria’s CEO for an investigative hearing. “The Commission is deeply concerned about repeated unilateral price increases and potential market abuse,” said FCCPC spokesperson Ondaje Ijagwu.
