In a significant move affecting millions of viewers, Multichoice Nigeria has announced a 19% increase in subscription prices for its popular DStv and GOtv services. This change, effective immediately, has sparked a wave of reactions from subscribers and industry experts alike.
As a leading provider of satellite television services, Multichoice's decision to adjust prices is bound to have a wide-reaching impact on the entertainment landscape in Nigeria. This article looks into the details of the price hike, exploring the reasons behind it and what it means for current and potential subscribers.
Multichoice Nigeria Increases Dstv, Gotv Subscription Prices
Multichoice Nigeria, a major satellite and Pay-Tv operator in Sub-Saharan, has announced a price increase of at least 19% for its DStv and GOtv packages, the second hike in 2024. The latest increase has taken effect on May 1, 2024, with a 19-20% rise across all packages, higher than the 16.3-18% increase implemented on May 1, 2023.
In a statement titled ‘Price Adjustment on DStv and GOtv Packages’, signed by its Chief Executive Officer, John Ugbe, sent to its customers on Wednesday, said the increase was necessitated by the rise in the cost of business operations.
According to the statement, the increment would take effect on May 1, 2024. “We understand the impact this change may have on you – our valued customer, but the rise in the cost of business operations, has led us to make this difficult decision,” the statement said.
New DStv Prices
DSTV has announced new prices for its packages that took effect from May 1, 2024. The DStv Premium package has increased from N29,500 to N37,000, DStv Compact+ from N19,800 to N25,000, and Compact from N12,500 to N15,700.
The Comfam package has gone from N7,400 to N9,300, Supa+ package from N12,500 to N15,700, Jinja package has moved from N2,700 to N3,300, and Smallie package from N1,300 to N1,575. Yanga increased by 20% from 3500 to 4200, PADI (2150), Business (2669) and Xtraview + PVR access fee (2900).
New GOtv Prices
For GOtv, Multichoice said customers on its Supa Plus package will now be paying N12,500, a 19% increase from the current price of N10,500. Its Supa bouquet will now go for N7,600 as opposed to the N6,400 currently being charged.
GOtv Max subscription has also increased to N5,700 from N4,850, while its Jolli package now goes for N3,950 from N3,300. Multichoice said its customers on the lowest GOtv package, Jinja, will now be paying N2,700 monthly, as opposed to N2,250 they are currently paying.
Although Multichoice hasn’t commented on the latest price hike, they previously mentioned economic challenges when they announced the first price increase in May. The National Bureau of Statistics reports that Nigeria’s inflation rate rose to 26.72% in September 2023, up from 25.80% in August.
In May 2023, Multichoice stated that economic difficulties forced them to adjust their package prices to maintain quality entertainment services, acknowledging the challenging economic conditions and aiming to minimize the impact on customers while ensuring sustainability.
The new price increase comes five months after Multichoice announced a $72m loss in their financial report for Q3 2023, and implemented price hikes in December 2023. An examination of the company’s updated price list revealed a uniform 20% increase across all packages.
This hike follows a previous 17% price increase announced in April 2023, which took effect on May 1, 2023. The pay-TV company attributed the adjustment to escalating business operational costs.
In a text message to customers, the company notified them that their monthly subscription fee would increase to ₦24,500 from ₦21,000, unless they remained active by April 30, 2023 to retain the old price for up to 12 months.
Notably, this is the third price increase in two years, with a previous hike occurring in March 2022, also attributed to inflation and rising business costs.
The Takeaway
The 19% increase in DStv and GOtv subscription prices by Multichoice Nigeria marks a pivotal moment for the company and its subscribers. While the decision has raised concerns among many, understanding the underlying factors can help viewers navigate these changes more effectively.
As the landscape of satellite television continues to evolve, staying informed about such developments is crucial. Keep an eye on how this price adjustment influences the market and consider your options to make the most of your entertainment experience.
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