DStv has lost a massive 900,000 subscribers as Netflix and other streamers ramp up competition.
MultiChoice is facing financial strain following a substantial loss in subscribers, as reported in their 2024 annual report.
According to IOL, their active subscriber base declined from 27.3 million to 26.4 million, with a net loss of about 900,000 subscribers across all regions.
DStv offers different pay TV packages levels like DStv Premium, Compact Plus, Compact, Family and other packages to subscribers across the African continent.
The company is facing increased competition from global streaming giants such as Netflix and Amazon Prime, which provide a wider range of content options at competitive prices.
Phumzile Ntuli, a former subscriber, voiced dissatisfaction with DStv’s pricing.
"I discontinued my DSTV subscription because they frequently raised package prices without offering sufficient content for us to watch, which I found unfair," Ntuli explained.
She has since switched to platforms like Showmax, which is also owned by MultiChoice, and Netflix, which she finds more economically viable.
In an interview with Jimmy Moyaha, MultiChoice's Chief Financial Officer, Tim Jacobs, acknowledged the challenges faced during the fiscal year.
"We saw affordability hitting really dire straits. In some countries in Africa, at some point, we literally are competing against basic foodstuffs," Jacobs highlighted.
Regarding DStv, Jacobs acknowledged challenges posed by competitors like Disney+ and Netflix.
"DStv has the bulk of video subscribers. So when you have a very tough environment, we would expect our base to perform slightly worse," he commented.
But he highlighted ongoing efforts to adjust DStv's offerings in response to a shifting digital landscape.
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