Pay-TV operator MultiChoice has reported a sharp decline in its subscriber base for the financial year ending 31 March 2025, losing nearly 1.2 million subscribers across its markets.
The drop represents an 8% year-on-year decline, reducing the group’s total subscriber base to 14.5 million.
According to the company’s latest annual results, 589 000 subscribers were lost in South Africa, with a further 591 000 lost across the Rest of Africa segment.
The total number of South African subscribers now stands at 7 million, while the Rest of Africa accounts for 7.5 million subscribers.
The company’s active user base, as measured by its 90-day active subscriber metric, paints an even more concerning picture.
The number of active subscribers fell from 20.9 million in 2024 to 18.6 million in 2025 – an 11% decline.
South Africa alone lost 614,000 active subscribers under this metric.
Revenue impact
The subscriber losses translated directly into lower revenues.
MultiChoice’s blended average revenue per user (ARPU) declined 3% to R222 per subscriber, down from R229 in the previous year.
Interestingly, the trend diverged across regions.
South African ARPU increased by 4% to R292, driven by a 5.7% price hike on its DStv packages.
However, the Rest of Africa saw a 14% decline in ARPU, falling to R148 despite local currency price increases of over 30%.
Currency depreciation and weak consumer spending were cited as major contributing factors.
Across the 90-day active subscriber base, ARPU remained flat at R170. This masked a 12% drop in the Rest of Africa and a 5% increase in South Africa.
Decline across market segments
The decline in subscribers was spread across all tiers of MultiChoice’s service offerings.
The premium segment (DStv Premium and Compact Plus) lost 100 000 customers, as did the mid-market segment (Compact and Commercial).
The mass-market segment, which includes Family, Access, and EasyView packages, saw the steepest drop with a loss of 400 000 subscribers.
The South African market, which once had 9 million subscribers at its peak in 2022, has now dropped to 7 million.
Since 2019, the premium subscriber base alone has fallen from 1.6 million to just 900 000 in 2025.
Strategic response and future plans
Despite the downturn, MultiChoice has taken steps to stem the decline, focusing heavily on retention and win-back campaigns over the past year.
Measures included the reintroduction of a second concurrent streaming option at no extra cost and a price reduction on its DStv ADD Movies add-on, from R79 to R49.
The group also entered into strategic partnerships with local brands such as Capitec, MTN, and PEP in an effort to expand its distribution footprint and accessibility.
While acknowledging the tough operating environment, MultiChoice expressed optimism about stabilising its core video business through customer-focused innovations.
The company also intends to expand its efforts in interactive entertainment, financial services, and insurance to diversify its revenue streams.
Although the rate of subscriber loss has begun to slow, the group recognises that restoring sustainable growth will require continued adaptation to shifting consumer habits and economic pressures.
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