MultiChoice has lost 1.2 million DStv subscribers in the past year, with 589,000 lost in South Africa and 591,000 across its other Africa markets.
The company blames “significant financial disruption for economies, corporates and consumers across sub-Saharan Africa”.
It adds that combined with the impact of structural industry changes in video entertainment such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group.”
Subscriber activity was also hit by power shortages in Zambia, Zimbabwe, and Malawi, ongoing fuel and electricity issues in Nigeria, and civil unrest in Mozambique.
The company has 14.5 million subscribers: 7 million in SA and 7.5 million in its Rest of Africa segment.
NewZWire
