BD Insider 209: Multichoice hikes prices by 19% in Nigeria

In this newsletter, we bring you news about Multichoice's latest price hikes:

📰 The Weekend Brief

#1. Multichoice hikes DStv and GOtv subscription prices by 19%

The news: Multichoice Nigeria, the Pay-TV operator, has announced its third price increase this year for DStv and GOtv packages in Nigeria. The latest price hike, set to take effect from Monday, November 6, 2023, comes just five months after the initial increases in May.

The impact of this price hike is significant, as it affects a wide range of subscribers across different packages.

For DStv customers, here are the new monthly subscription prices:

• DStv Premium: ₦29,500
• Compact+: ₦19,800
• Compact: ₦12,500
• Confam: ₦7,400
• Yanga: ₦4,200

As for GOtv subscribers, the following changes will be implemented:

• Supa Plus: ₦12,500
• Supa: ₦7,600
• Max: ₦5,700
• Jolli: ₦3,950
• Jinja: ₦2,700

Why it matters: Multichoice attributes these price increases to the rising costs in various aspects of its business operations, including content acquisition, infrastructure maintenance, and operating expenses. The company has also cited the current economic challenges in Nigeria, such as high inflation and a weakened national currency, as contributing factors.

The price hikes have elicited mixed reactions from subscribers, with some expressing frustration, particularly given the economic challenges many Nigerians are currently facing. In April last year when Multichoice raised prices, the action drew the ire of the Nigerian National Assembly, which demanded that rates be scaled down or a pay-per-view pricing model be introduced.

On the other hand, some defend Multichoice's decision, acknowledging the need for the company to cover its operational costs and continue offering high-quality programming. Following last year's price increase, the company raked in ₦277 billion, a 29% growth from the previous year.

However, the weakened naira wiped out those gains. Whereas 2021's ₦177.5 billion brought in $240 million, 2022's ₦277 billion brought in only $235 million.

Know more: Nigeria is not the only country where Multichoice has increased prices. In August, the company terminated its DSTV services in Malawi after the country's communications regulatory authority blocked a price hike.

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💼 Opportunities

• Work at Kuda: Nigerian neobank, Kuda is hiring for several roles in design, product, marketing and engineering. Most of the roles are remote or hybrid.
• Women Who Code fellowship: Because She Can has opened applications for their annual fellowship providing laptops, mentorship and internships to women in tech, targeting 10 awards this year. Apply by November 25.
• For Nigerian female founders: The National Information Technology Development Agency has launched Female Founders Training. This initiative is aimed at supporting and empowering women in Nigeria to leverage digital technologies for building viable and scalable businesses. Apply before November 7, 2023.

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