“Understand the Situation”: StarTimes Increase Prices, Cites Rising Cost of Fuel, Naira Fall, Others
- StarTimes has said it is adjusting the price of its subscription upward to reflect economic realities
- The company listed factors such as inflation, and the naira fall, among others as factors affecting price
- The new price was reflected from Friday, September 1, 2023
StarTimes has announced that starting from September 1, 2023, its subscription fees will change.
The company said the price rise was unavoidable owing to the challenging economic conditions that all businesses must contend with in the nation.
It added that the depreciation of the naira against the dollar, which is the currency used to purchase the majority of its content and equipment, as well as rising inflation, has affected business costs and reduced its purchasing power and ability to pursue profitability.
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Legit.ng earlier highlighted how subscription packages and plan prices provided by the television service.
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The report shows that Nova bouquet costs N900, Basic bouquet goes for N1,700 while Classic bouquet costs N2,500 respectively.
Company explains why is increasing subscription rates
Speaking on the development, Lazarus Ibeabuchi, PR Manager, StarTimes Nigeria, was quoted as saying:
“We are not increasing prices to make extra profits, but rather to cover operational costs and continue to provide affordable and accessible digital TV to millions of Nigerians
“From September 1, the new bouquet prices for our antenna decoder are Nova: ₦1500; Basic: ₦2600; Classic: ₦3800. While the subscription changes for the dish decoder bouquets are Nova: ₦1500; Smart: ₦3500; Special: ₦5000; Super: ₦6500; French: ₦7000; Chinese: ₦13000; Full: ₦14000.
The company, however, said subscribers who renew before September will enjoy the old price until their subscription expires.
It added that customers can jump on this opportunity to recharge for several months.
Ibeabuchi added:
We appeal to our subscribers to understand the situation and continue to enjoy our services. We assure our customers that we will continue to deliver quality and affordable entertainment capable of satisfying the craving of everyone.
The firm also reminded clients that it provides flexible payment options such online platforms, mobile money, POS machines, etc., as well as the pay-as-you-go option, which allows subscribers to subscribe daily or weekly.
The family-focused pay-TV provider has debuted new family programmes with hosts that include well-known Nollywood actors Mercy Aigbe and Damilola Adegbite.
MultiChoice, owner of DSTV, launches payment bank to challenge Flutterwave, Opay and others
Legit.ng earlier reported that MultiChoice Group, the South African media company known for owning DSTV and GOtv, recently launched a new payment infrastructure platform called Moment.
In collaboration with investors Rapyd and General Catalyst, MultiChoice aims to revolutionise the payments landscape in Africa by providing businesses with a more accessible, faster, and cost-effective payment infrastructure.
The company also intends to offer consumers smart spending and saving options.
Source: Legit.ng
