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MultiChoice Nigeria Loses 243,000 DStv, Gotv, Subscribers In Six Months Over Inflation, Price Hikes

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2 months ago

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The South African pay-TV operator MultiChoice Group disclosed that its Nigerian unit, MultiChoice Nigeria, lost 243,000 subscribers on its Digital Satellite Television (DStv) and General Entertainment on Television (GOtv) services from April to September this year.

The company revealed these figures in its Interim Financial Results for the period ending 30 September 2024, which were released on Tuesday.

MultiChoice attributed this decline to Nigeria’s high inflation rate, which exceeds 30%, driven by the rising costs of food, electricity, and fuel, causing many customers to disconnect.

In its financial report for March 2024, MultiChoice had earlier reported an 18% subscriber loss in Nigeria.

The company further reported a 566,000-subscriber loss in the Rest of Africa operations over the past six months, with Zambia and Nigeria contributing the largest shares to this decline.

“With the Rest of Africa business having seen a decline of 803k subscribers in 2H FY24, this rate of decline slowed to 566k in 1H FY25,” stated MultiChoice.

The loss included 298,000 in Zambia and 243,000 in Nigeria, while other markets experienced a minor decline.

Extreme inflation and currency instability have negatively impacted the group’s profits, with MultiChoice Group CEO Calvo Mawela commenting, “We are making good progress in addressing the technical insolvency that resulted from non-cash accounting entries at the end of the last financial year.”

Mawela noted that the group’s net equity position is expected to recover by November.

With regard to Zambia’s losses, the company attributed them to extensive power outages caused by drought, leaving some regions with up to 23 hours of daily outages.

The company also cited competition from streaming services and changes in viewer preferences as pressures on its traditional pay-TV model.

To adapt, MultiChoice invested an additional ZAR1.6 billion in its streaming service Showmax, which reported 50% year-over-year growth.

Mawela added, “Showmax strategically positions the business to actively participate in the streaming revolution as it gains momentum across Africa.”

 

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Ojez Forum to Honor Guv’ Ken Calebs Olumese for His Impact on Nigerian Entertainment on Sunday

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January 20, 2025

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Lagos is set for an unforgettable evening as Ken Calebs Olumese, the legendary “Guvnor” of Nigeria’s nightlife, receives a Special Recognition Award from The Forum by Ojez. The event, scheduled for Sunday, January 26, 2025, at O’jez Lounge, National Stadium, Surulere, Lagos, will celebrate his immense contributions to the Nigerian entertainment industry.

Fresh off his 80th birthday milestone, Olumese remains an icon in the country’s nightlife and hospitality scene. As the founder of Niteshift Coliseum, he created an exclusive club that hosted some of Nigeria’s most influential figures—from business moguls to top politicians and A-list entertainers. His visionary leadership transformed the nightclub experience, making it a hub for high-profile networking and premium entertainment.

According to Chief Joseph Odobeatu, Chairman/CEO of O’jez Entertainment, honoring Olumese is a well-deserved tribute to a man who redefined nightlife culture in Nigeria.

“We are excited to celebrate a pioneer who set the standard for premium entertainment in Nigeria. His legacy continues to inspire generations in the industry,” Odobeatu said.

The Forum by Ojez, known for honoring distinguished personalities, will feature electrifying live performances from top musicians and a DJ set to keep the energy high. It promises to be an evening of celebration, nostalgia, and entertainment. You’re all invited.

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Fathia Balogun In Gay Mood as son graduates with first class from UNILAG

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6 days ago

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January 15, 2025

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Nollywood actress Faithia Williams celebrates her son, Khalid Balogun, who graduates with a first-class degree from the University of Lagos (UNILAG).

Taking to Instagram to share the joyous moment, Faithia posted a photo of Khalid along with a heartfelt message expressing her overwhelming joy and gratitude.

The proud mother praised her son’s dedication and perseverance, attributing his academic success to hard work and resilience. She also offered prayers for his continued achievements, wishing him happiness and fulfillment as he embarks on a new chapter in life.

In her post, Faithia wrote:
“Hmm, I’m short of words… Alhamdulillah! Alhamdulillah! Alhamdulillah! My darling son, @khalidgram__, I’m overwhelmed with joy and gratitude as I celebrate your incredible achievement! You’ve worked tirelessly and persevered through the challenges, and today, you’ve emerged with a FIRST CLASS DEGREE from the University of Lagos’ Creative Department!

“Alhamdulillah, my heart is bursting with pride and love for you, my darling son! As you embark on this new journey, I ask that you continue to be guided by faith, courage, and determination.”

Faithia’s heartfelt post not only highlights her son’s academic excellence but also reflects her unwavering support as a mother.

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Seun Oloketuyi Appointed as Member of the Advisory Board for Kaduna International Film Festival

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6 days ago

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January 14, 2025

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I am pleased to announce my appointment as a member of the advisory board for the Kaduna International Film Festival. This honor is a recognition of my contributions to the growth and development of Nollywood and the African creative industry at large.

 

The Kaduna International Film Festival, established in 2018, has been a beacon of cultural promotion, tourism, youth empowerment, and peace-building in northern Nigeria. As the first international film festival in the region, it continues to bridge the gap in the northern film and creative industry, fostering inclusion and growth across the nation.

 

I am committed to leveraging my experience and expertise to further the festival’s mission of celebrating Nigeria’s rich cultural heritage and empowering young creatives. This opportunity serves as a platform to support the festival’s efforts in strengthening the film industry, both in Nigeria and beyond.

 

I extend my heartfelt gratitude to the leadership of the Kaduna International Film Festival for entrusting me with this role. Together, we will continue to elevate the creative industry and showcase the best of Nigerian talent to the world.

 

Signed:

Seun Oloketuyi

Founder Best of Nollywood Awards Chairman Advisory board Bon Awards and Advisory Board Member,

Kaduna International Film Festival

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