MultiChoice, the leading provider of satellite television services in Nigeria, has once again announced a significant increase in the prices of its DStv and GOtv packages, attributing the decision to ongoing economic challenges within the country.
The latest price adjustments are set to take effect from May 1, marking the fourth consecutive hike in subscription fees within a relatively short timeframe.
In a message sent to subscribers on Wednesday, MultiChoice acknowledged the potential impact of these changes on its valued customers, signaling an awareness of the financial strain that such increases may impose. The company expressed empathy, stating, “We understand the impact this change may have on you – our valued customer.”
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The updated price list revealed a notable 25% surge in subscription fees across all packages, underlining the magnitude of the adjustment.
The DStv Premium package, the company’s flagship offering, will witness a substantial increase from N29,500 to N37,000, constituting a 20.27% surge. Similarly, the DStv Compact+ package will experience a price hike from N19,800 to N25,000, reflecting a 20.8% escalation, while the Compact package will rise from N12,500 to N15,700, representing a 20.38% increase.
The GOtv offerings are also subject to significant price adjustments, with the Supa+ package witnessing a surge from N12,500 to N15,700, a 20.38% increase. The Supa package will rise from N7,600 to N9,600, marking a 20.8% escalation, and the Max package will increase from N5,700 to N7,200, reflecting a 20.8% surge.
Moreover, MultiChoice’s previous price hike in December was also substantial, resulting in a 20% increase across various packages. This decision came shortly after the company reported a $72 million loss in its third-quarter financial statement, denoting the financial challenges faced by the entertainment firm.
MultiChoice has consistently attributed its pricing decisions to the prevailing economic conditions in Nigeria, which have been characterized by fluctuations in fuel prices and other essential commodities. These economic headwinds have, in turn, impacted the company’s operational costs, necessitating periodic adjustments to subscription fees.
The company’s track record of price hikes underscores the broader trend of rising costs for consumers amid economic uncertainty. Since March 2022, MultiChoice has implemented multiple price increases across its DStv and GOtv packages, with adjustments announced in April and December 2023, respectively.
Despite the company’s efforts to rationalize these price adjustments within the context of economic challenges, the successive hikes raise questions about affordability and access to essential entertainment services for Nigerian consumers.
Nigerians seek alternatives
Following the announcement, Nigerian subscribers have taken to social media to register their displeasure, with many seeking alternatives to Multichoice.
“Multichoice announces Price Adjustment on DStv and GOtv Packages with effect from 1st May 2024. So why the increment when naira is appreciating against dollar?”, An X user named Deji asked.
????????
Multichoice announces Price Adjustment on DStv and GOtv Packages with effect from 1st May 2024. So why the increment when naira is appreciating against dollar? pic.twitter.com/n0AnVx7KEn
— UNCLE DEJI™? (@DejiAdesogan) April 24, 2024
“Can we all agree to stop using DSTV?”, an X user named Dr. Sina asked. “I think we as Nigerians need to get to a point where we call out companies that aren’t empathic towards plight of Nigerians. DSTV keeps increasing their tariffs, despite providing less value on their channels. We need to take back power.”
Can we all agree to stop using DSTV?
I think we as Nigerians need to get to a point where we call out companies that aren't empathic towards plight of Nigerians.
DSTV keeps increasing their tariffs, despite providing less value on their channels
We need to take back power
— The_Bearded_Dr_Sina (@the_beardedsina) April 24, 2024
“DStv’s recent price adjustment seems unjustified. With TSTV no longer a competitive option, it’s time to explore alternatives like IPTV. The monopoly DStv holds is detrimental to consumers especially their refusal to pay per view. We need more options for fair pricing and better services,” another X user, James Agwu, said.
DStv's recent price adjustment seems unjustified. With TSTV no longer a competitive option, it's time to explore alternatives like IPTV. The monopoly DStv holds is detrimental to consumers especially their refusal to pay per view. We need more options for fair pricing and better… pic.twitter.com/SnXsQu7JOr
— Mr. Bond | OBIDIENT (@JamesAgwu_E) April 24, 2024