MultiChoice Speaks on Alleged Changes in Subscription Prices for DStv, GOtv
- MultiChoice has debunked a recent report that said it reverted to its old subscription prices due to a court order
- The company told Legit.ng that its subscription prices remained unchanged and it has only crashed decoder prices
- The company increased its subscription prices in May, which it said was due to inflation and other market realities
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.
MultiChoice, the owners of DStv and GOtv, has debunked a viral report that it has reverted to the old subscription packages in Nigeria following a court order.
A company source who spoke to Legit.ng anonymously said the firm only reduced its decoder prices for DStv and GOtv to enable customers to join the service.
Source: Getty Images
MultiChoice crashes decoder prices
“While subscription prices did not change, we reduced the decoder prices to enable customers to get on board. That is the only thing that has been reduced,” the source said.
PAY ATTENTION: Share your outstanding story with our editors! Please reach us through info@corp.legit.ng!
MultiChoice has been battling a revenue decline caused by the loss of about 1.2 million subscribers, which analysts believe is caused by the hike in subscription prices.
According to reports, the company announced in May 2024 that it was increasing its bouquet prices in line with market realities.
DStv subscription prices remain unchanged
The company said new prices for DStv packages are as follows: The premium package will now cost N37,000 monthly, as against the current N29,500 subscription fee.
The price of the compact+ bouquet has also increased to N25,000 from 19,800 monthly.
DStv said subscribers to its compact bouquet will now pay N15,700, as against the N12,500 they are currently paying, while those on the confam package will pay N9,300, compared to the previous N7,400.
Under the new price regime, viewers of DStv Yanga bouquet will pay N5,100 for the monthly subscription instead of the N4,200 currently paid.
Padi subscribers will, starting May 1, 2024, be paying N3,600 instead of the current N2,950 price.
HDPVR Access subscribers will pay N5,000 instead of the N4,000 being paid now.
GOtv prices remain the same
For GOtv users, Multichoice said customers on its Supa Plus package will now pay N15,700, up from the current price of N12,500. Its Supa bouquet will now cost N9,600, up from the current N7,600.
GOtv Max subscription has also increased to N7,200 from N5,700, while its Jolli package will go to N4,850 from N3,950. Multichoice said its customers on the lowest GOtv package, Jinja, will be paying N3,300 monthly instead of N2,700, which they are currently paying.
Users of Smallie will now be paying N1,575 as against N1,300
MultiChoice vows to appeal court order
Following the hike, a Nigerian court ordered the company to revert to the old subscription prices, fined it N150 million, and asked it to provide a one-month free subscription to Nigerians.
The company vowed to appeal the court’s ruling, saying its price adjustment is due to current market realities.
MultiChoice laments N31.6 billion trapped in Heritage Bank
Legit.ng previously reported that the MultiChoice Group, owners of DSTV, said it had an account balance of N31.6 billion with the liquidated Heritage Bank.
The satellite television company disclosed in its annual report for the 2024 Financial Year that it had a deposit of N33.7 billion with the bank as of the 2024 fiscal year ending on March 31, 2024.
The company disclosed that the balance was subsequently reduced to N31.6 billion due to remittance before the Central Bank of Nigeria revoked the bank's license on June 3, 2024.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
PAY ATTENTION: Unlock the best of Legit.ng on Pinterest! Subscribe now and get your daily inspiration!
Source: Legit.ng
