Multichoice Increases DStv, GOtv Prices In Nigeria

Multichoice Increases DStv, GOtv Prices In Nigeria

Days after revealing a $72 million deficit in its third-quarter financial report, Multichoice, the broadcasting company, has increased the cost of its products in Nigeria. An examination of the new price list shows an overall 20% increase in the company’s packages.

The DStv Premium bundle experienced a 20.4% price increase, rising from N24,500 to N29,500. Similarly, the Compact package saw a 19% increase, moving from N10,500 to N12,500, while the DStv Compact+ package climbed by 19.2%, from N16,600 to N19,800. The Confam package increased by 19.2%, going from N6,200 to N7,400. This marks the second pricing adjustment by the company in as many months.

Read Also Naira Falls To All-time Low

Multichoice had previously increased the cost of its products in May. In this recent round of price hikes, the DStv Premium package saw a 16.7% increase, rising from N21,000 to N24,500. The DStv Compact+ package increased by 16.5%, from N14,250 to N16,600. The DStv Compact package also went up by 16.7%, from N9,000 to N10,500. The DStv Confam package, previously priced at N5,300, increased by 17% to N6,200.

An inside source mentioned that, in addition to addressing various issues like taxes and logistics, the company is also grappling with the adverse effects of the ongoing devaluation of the naira.

The source said: “Yes. We have increased our rates. We buy content in dollars but earn in naira. If we take off a channel or stop acquiring content that our customers are used to, we will be slammed.

“We buy diesel. We pay taxes. Even before this year, with the dollar and fuel subsidy removal. We pay billions in licensing fees. We operate several offices. We have to pay staff.”