Which it attributes to tough economic conditions across sub-Saharan Africa
Pay-TV operator MultiChoice reported that it lost 1.2 million linear subscribers — an 8% drop — during the financial year ending 31 March 2025.
MultiChoice currently counts 14.5 million active users, as recent subscriber losses were shared equally between South Africa and other African markets.
Over the past two financial years, the group lost 2.8 million active broadcast subscribers, which it attributes to tough economic conditions across sub-Saharan Africa that have impacted businesses and consumers alike.
Added to that, the group says the rise of piracy, streaming platforms, and social media has further hit it’s business overall performance.
“The past two financial years have been a period of significant financial disruption for economies, corporates and consumers across sub-Saharan Africa due to challenging macro-economic factors,” the group said.
“Combined with the impact of structural industry changes in video entertainment such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group,” it added.
“Over this period, the group lost 2.8 million active linear subscribers and had to absorb a ZAR10.2 billion negative impact on its topline due to local currency depreciation against the US dollar,” it noted.
Showmax — the group’s streaming platform — saw a 44% increase in active paying subscribers, showing strong growth and gaining ground across the region.
However, overall group revenue dropped by R5.2 billion (down 9% year-on-year), landing at R50.8 billion. The drop was mainly due to fewer subscriptions and the impact of a weaker currency. The group also removed its insurance business (NMSIS) from the books in December 2024, which affected results.
On the positive side, price increases and new products like DStv Internet, DStv Stream, and Extra Stream helped soften the blow.
