Multichoice set to Review DSTV Compact Subscription From N15,700 to N19,000, Other Packages Affected
- MultiChoice has announced fresh plans to increase the monthly membership cost for its DStv Compact package from N15,700 to N19,000
- Most MultiChoice users are subscribers to the Compact, Access, and Family bundle plans
- The prices for family bouquets and access packages may be reviewed from N9,300 to N11,000 and N5,100 to N6,000, respectively
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Pay TV provider MultiChoice plans to raise the monthly subscription fee for its DStv Compact package from N15,700 to N19,000, industry sources have revealed.
Source: Getty Images
TheCable reported that the company’s most recent price review was about a year ago.
The proposed hike comes amid widespread price increases in telecommunications, transportation, and consumer goods, which were attributed to the naira's depreciation and rising energy costs.
The majority of MultiChoice users are members of the Compact, Access, and Family bouquet subscriptions.
Tariffs for Access and Family bouquets may be reviewed from N5,100 to N6,000 and N9,300 to N11,000, respectively.
The pricing review will also impact the two most expensive bouquets, Premium and Compact+.
GOtv Value customers, who currently pay N3,600, will start paying N3,900, while the tariff on GOtv Plus will rise from N4,850 to N5,800, sources further told TheCable.
“Since 2023, when the federal government began its economic reforms of fuel subsidy removal, naira floatation and electricity tariff increase among others, prices of goods and services have almost quadrupled, with the inflation rate at 34.80 per cent as at December, 2024,” an industry source said, adding that businesses have been forced to increase prices, with some doing so as many as three times last year.
Many companies have posted huge losses arising from foreign exchange instability.
Recall that multiChoice Group Limited wrote off $21 million that was deposited in the bank following the liquidation of Nigeria's Heritage Bank last year.
The company's interim financial results for the half-year that ended on September 30, 2024, included this information.
Read also
New exchange rate: Dollar falls in all markets as naira strengthens amid declining reserves
Following the Central Bank of Nigeria's revocation of Heritage Bank's operating license, which essentially closed the bank, the amount was deemed irrecoverable.
Source: Getty Images
MultiChoice's choice to write off the money highlights the challenges that companies in Nigeria's banking sector face, especially in light of the country's fragile economy.
The company continues to face difficulties in Nigeria due to the country's high rate of inflation and steadily declining value of the naira.
MultiChoice announces new packages
Legit.ng earlier reported that GOtv Nigeria announced new packages for lower-tier subscribers with its Open Window offer for the holiday season.
From December 13, 2024, to January 6, 2025, subscribers on its lower-tier packages can enjoy premium content on GOtv Supa Plus.
A company statement said that the Open Window offers subscribers the opportunity to enjoy GOtv Supa Plus packages at a savings of N1,800.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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