MultiChoice Nigeria, the provider of satellite television services DStv and GOtv, has put a reverse adjustment to its subscription prices following a court order requiring the pay television company to halt its move to hike prices.
This information has been confirmed on Sunday, June 16, 2024 by subscribers who make payment for the new price. Although subscribers who paid the higher May rates won't get money back, but they'll enjoy the lower prices going forward.
This comes after the Competition and Consumer Protection Tribunal (CCPT) issued a ruling earlier this month, barring MultiChoice from raising subscription fees without proper notice. However, the company has pledged to contest the Competition Consumer Tribunal (CCT) order, following a reported decline in its Nigerian subscriber base, where it experienced a loss of over a million subscribers.
Previously, MultiChoice had implemented a price hike on May 1st, 2024. The increase varied across packages, with some DStv subscriptions rising by as much as 25%. This move sparked outrage among customers who felt the rise was unjustified, especially considering current economic hardships.
The CCPT's intervention came in response to a lawsuit filed by a consumer rights advocate, who argued that the eight-day notice provided by MultiChoice before the price hike was insufficient. The court ultimately ruled in favor of the consumers, ordering MultiChoice to revert to the previous pricing structure.
Now, updated on the company's website, subscribers can now expect to pay the pre-hike prices for their DStv and GOtv packages. The court order also mandated MultiChoice to offer a one-month free subscription to all customers.
DSTv and GOTv Prices
The Premium package now costs N29,500, down from N37,000, while the Compact+ package is priced at N19,800, a decrease from the new price of N25,000. Similarly, Compact Bouquet subscribers can now pay the previous rate of N12,500 instead of N15,700.
Additionally, Confam package subscribers benefit from the old price of N7,400 instead of the increased rate of N9,300 per month. These adjustments reflect DStv's response to price changes, allowing subscribers to continue enjoying their services at more affordable rates.
Yanga package subscribers will now pay the previous rate of N4,200 per month instead of the new price of N5,100. Similarly, Padi subscribers will be charged the former price of N2,950 instead of the increased rate of N3,600.
On the other hand, GOtv subscribers will now pay the previous rates of N12,500 for the Super+ package, down from the recently increased N15,700. Similarly, GOtv Super users will revert to paying N7,600 instead of the increased rate of N9,600 that was set before the court order.
Other GOtv package prices have also been adjusted: subscribers will pay N5,700 for GOtv Max, N3,950 for GOtv Joli, and N2,700 for the lowest package, GOtv Jinja, reverting from the new rate of N3,300.
DSTv and GOTv Old Prices vs New Prices
| Package | Old Price (N) | New Price (N) |
|---|---|---|
| DStv Premium | 29,500 | 37,000 |
| DStv Compact+ | 19,800 | 25,000 |
| DStv Compact | 12,500 | 15,700 |
| DStv Confam | 7,400 | 9,300 |
| DStv Yanga | 4,200 | 5,100 |
| DStv Padi | 2,950 | 3,600 |
| GOtv Super+ | 12,500 | 15,700 |
| GOtv Super | 7,600 | 9,600 |
| GOtv Max | 5,700 | 5,700 |
| GOtv Joli | 3,950 | 3,950 |
| GOtv Jinja | 2,700 | 3,300 |
Multichoice Record Losses
Reports indicate that the company initially raised its subscription prices to reflect market realities due to high inflation in Nigeria and the devaluation of the naira. However, the recent court order has necessitated these price adjustments.
Furthermore, MultiChoice has also expressed concerns over N31.6 billion trapped in Heritage Bank, a Nigerian bank that recently got shut down by the Central Bank of Nigeria (CBN). This situation has exacerbated the financial challenges the company faces, particularly in light of recent declines in its subscriber base and the mandatory price adjustments ordered by the Competition Consumer Tribunal (CCT).
The trapped funds are critical for the company's operations and investment in the region. The inability to access these funds hampers MultiChoice's liquidity and financial flexibility, complicating efforts to manage its business amid the economic pressures of high inflation and currency devaluation in Nigeria.
This financial strain has added to the company's ongoing challenges, impacting its overall performance and strategic initiatives in the market.