During the fiscal year ending March 31, 2025, MultiChoice Group reported losing a total of about 1.2 million broadcast subscribers across its footprint—from 15.7 million to 14.5 million—marking an 8% reduction overall. The rest-of-Africa segment—including Kenya—suffered a sharper 15% decline in subscribers.
Specifically in Kenya, management disclosed a 15% dip in subscriber numbers. This drop has been largely pressured by repeated price increases and the ongoing cost-of-living crisis, which forced many viewers to cancel in order to stretch their household budgets.
M‑oney Matters: Currency and Pricing Pressures
MultiChoice attributes these declines to several macroeconomic headwinds. First, foreign exchange volatility—in particular the depreciation of local currencies against the U.S. dollar—hit the company with losses amounting to approximately 5.2 billion rand (≈US $45 million).
Secondly, the group implemented multiple price hikes in Kenya—most recently in November 2024, raising subscription fees across all major tiers by 4.6–5.4%. While intended to offset inflation and forex losses, these hikes have been unpopular in a market with shrinking disposable incomes and growing competition.
M‑ultiplatform Pivot: SuperSport and Showmax Strategy
In response to subscriber churn, MultiChoice is considering offering SuperSport as a standalone package—a potential move to salvage financially valuable sports rights without bundling them into overall DStv subscriptions. Sports content, especially football, remains the strongest retention tool. Viewers on Reddit repeatedly confirmed:
“SuperSport is the only reason I keep it…”
Meanwhile, the company is doubling down on its digital platform, Showmax. Despite core business weakness, Showmax’s subscriber base rose significantly—reporting a 50% increase in paying users—though it still incurred heavy losses. Additionally, the related streaming service DStv Stream registered growth of 139% year‑on‑year, signifying a shift towards digital consumption.
M‑acro Context: Cost‑Cuts and Takeover Prospects
Overall, MultiChoice showed resilience. The company triggered substantial cost‑saving initiatives (approximately 1.3 billion rand in six months, targeting 2.5 billion rand for the full year), and bolstered its cash flow with internet services and insurance revenues. Further, it remains a target for French media firm Canal+, with the takeover process ongoing.
What’s Next for Kenyan Viewers and SuperSport Fans?
- Price sensitivity vs sports loyalty: As costs escalate, many lower-tier subscribers may walk away, while ardent sports fans could remain if a cost-effective SuperSport offer appears.
- Unbundled offerings: Splitting SuperSport from full DStv packages could result in more flexible, affordable options for sports enthusiasts—but execution will be critical.
- Digital acceleration: Continued investment in Showmax and DStv’s streaming platforms may lure subscribers back, particularly among digitally-savvy youth.
Conclution: MultiChoice Kenya’s 15% subscriber drop is not just a regional hiccup—it’s part of a broader trend across Africa. Currency volatility, affordability pressures, and seismic shifts toward streaming are forcing a strategic pivot. The idea of a standalone SuperSport package could be a smart move—but only if MultiChoice balances cost with consumer value.
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