Report said MultiChoice Nigeria recorded a drop in revenue from subscription in the financial year ended March 2025.
In the same period last year, MultiChoice recorded $355.93m.
However, this time, the revenue declined by 44 per cent to $197.74m.
The revenue slump arose from “sizeable customer losses in Nigeria as high inflation adds more pressure on consumers,” the company said in its latest financial report.
1.4 million subscribers were lost by the pay-TV provider since its financial year ended in March 2023.
Nigeria alone accounted for 77 per cent of the 1.8 million subscribers lost across MultiChoice’s Rest of Africa segment, which includes markets such as Kenya, Zambia, and Angola.
Between April and September 2024, the company lost 243,000 subscribers in Nigeria, as macroeconomic and consumer conditions deteriorated further.
