Broadcasting
MultiChoice Loses 2.8m Subscribers in Two Years

Video entertainment company MultiChoice’s woes are persisting with the company continuing to suffer massive losses in revenue and subscribers.

This emerged today when the DStv parent company announced its financial results for the year ended 31 March (FY25).
In a statement to shareholders on the Stock Exchange News Service, the JSE-listed firm says the past two financial years have been a period of significant financial disruption for economies, corporates and consumers across sub-Saharan Africa due to challenging macro-economic factors.
Combined with the impact of structural industry changes in video entertainment such as the rise of piracy, streaming services and social media, this has materially affected the overall performance of the MultiChoice Group, it notes.
Over this period, MultiChoice says the group lost 2.8 million active linear subscribers and had to absorb a R10.2 billion negative impact on its topline due to local currency depreciation against the US dollar.
For the year ended 31 March, the company reveals that linear subscribers were down 1.2 million or 8% year-on-year (YoY) to 14.5 million active subscribers, with the loss evenly split between South African (600 000) and Rest of Africa (600 000).
Although reflecting an improvement on FY24 trends, MultiChoice says this indicates ongoing broad-based pressure across the group’s entire customer base.
Active paying Showmax subscribers were up 44% YoY, reflecting healthy growth and gaining regional market share, it adds.
Group revenue declined by R5.2 billion or 9% YoY to R50.8 billion, mainly due to an 11% decline in subscription revenues (-1% organic) caused by foreign currency and subscriber volume headwinds and the deconsolidation of the NMSIS insurance business from December 2024, it explains.
According to the firm, this was partially offset by inflationary pricing and new product growth (DStv Internet, DStv Stream and Extra Stream).
Trading profit, which declined by R3.8 billion or 49% YoY to R4 billion, was materially affected by the R2.3 billion organic increase in trading losses in Showmax and the R5.2 billion in foreign currency revenue losses, partially offset by a significant outperformance in delivering total cost savings of R3.7 billion.
Adjusted core headline earnings, the board’s revised measure of the underlying performance of the business, shifted to a loss of R800 million (FY24: earnings of R1.3 billion) due to lower trading profit and hedging losses in FY25 (compared to gains in FY24), partially offset by smaller losses on cash remittances from Nigeria.
The group incurred a free cash outflow of R500 million in FY25 (FY24: inflow of R600 million), impacted by lower profitability, higher lease repayments due to timing and partially offset by improved working capital management as well as a 29% YoY decline in capex.
At year-end, the group held R5.1 billion in cash and cash equivalents and retains access to R3 billion in undrawn general borrowing facilities.
A part of the R12 billion term loan was repaid early by using the R900 million upfront proceeds from the NMSIS transaction (ie R1.2 billion, net of tax), says the company.
The group operates in numerous markets across Africa and internationally, resulting in significant exposure to foreign exchange volatility.
Amid the challenges, MultiChoice states that management acted decisively to ensure that the group could withstand these headwinds, focusing on key areas within its control.
It notes that this has meant maintaining a discipline of inflationary pricing, with price increases of 5.7% in South Africa in FY25 (FY24: 5.6%) and an average of 31% in local currency in Rest of Africa (FY24: 27%), which enabled the group to offset subscriber volume pressures and deliver 1% YoY organic revenue growth in the current financial year.
In addition, further efficiencies were implemented to manage costs and cash flows without unduly sacrificing the group’s customer value proposition, it adds.
In this regard, the group delivered R3.7 billion in cost savings, well ahead of management’s initial R2 billion target (and the revised R2.5 billion target set at interims) and almost double the R1.9 billion saved in FY24, the company says.
Broadcasting
NUJ Accuses NBC of Attempting to Gag Media, Demands Dialogue

Nigeria Union of Journalists (NUJ) has criticised the National Broadcasting Commission (NBC) over a recent directive to broadcast stations, describing it as a threat to free speech and press freedom.

In a press release signed by Achike Chude, national secretary, the union said it viewed the NBC’s notice released on 17th April with “grave concern and utter disappointment.”
It said the directive, which warned broadcasters to ensure “strict and uncompromised compliance,” was “nothing short of a veiled attempt to gag the media and institutionalise censorship.”
The union argued that the NBC’s warning against anchors expressing “personal opinions” interferes with newsroom decisions.
“Journalism, particularly in the realm of current affairs and political analysis, requires robust engagement,” the NUJ said.
It added, “To strip presenters of their right to analyze and contextualise news is to reduce the Nigerian media to a mere mouthpiece.”
The NUJ also faulted what it called vague rules and harsh penalties.
It said classifying such actions as offenses punishable by fines or suspension creates “a chilling effect.”
According to the statement, “This regime of fear encourages self-censorship, where journalists are too afraid to ask tough questions.”
Citing Section 39 of the 1999 Constitution, the union stressed that freedom of expression includes “the freedom to hold opinions and to receive and impart ideas and information without interference.”
It added, “The NBC Code cannot and must not be used to override the supreme law of the land.”
The NUJ called for dialogue instead of threats and urged journalists to remain “resolute, professional, and fearless.”
It said, “The media is the watchdog of society, not the lapdog of the government.”
Broadcasting
Fela Makes History as First African to be Inducted into Rock and Roll Hall of Fame

Fela Anikulapo-Kuti, simply known as Fela, legendary Nigerian musician, has made history as the first African artist to be inducted into the Rock & Roll Hall of Fame.

Fela
This is coming after he was posthumously honored with the 2026 Grammy Lifetime Achievement Award, becoming the first African artist to receive this prestigious special merit recognition.
Fela will be honoured in the early influence category this year, along with Queen Latifah, rapper MC Lyte, country rocker Gram Parsons, and Cuban singer Celia Cruz at this year’s Rock and Roll Hall of Fame event.
The honorees were revealed on Monday night in the US, during an airing of American Idol.
Sade Adu, Nigerian-born British singer, will be honoured in the performance category.
However, Shakira, Mariah Carey, Lauryn Hill, New Edition, and Pink, missed out on the final cut despite being nominated.
Over 1,200 artists, historians and music industry professionals voted to decide the honorees.
The induction ceremony will be held on 14 November at the Peacock Theatre in Los Angeles.
Broadcasting
FG to Gift Nigerians over 100 Free TV Channels from May 15

National Broadcasting Commission (NBC) is set to launch so-called FreeTV, with over 100 channels for news, sports, education, entertainment and children’s programming in multiple Nigerian languages.

The launch is scheduled for May 15.
Charles Ebuebu, director-general, NBC, who disclosed this, said the new platform will offer free-to-air access with no carriage fees, leveraging hybrid satellite and internet delivery via NigComSat-1R.
The new plan is not an upgrade, the NBC stressed. This is a rebuild, according to Ebuebu .
FreeTV will be true free-to-air – no encryption, no set-top box barrier.
Any DVB-T2/S2 television will work. A mobile app will extend reach to phones and tablets.
The platform will launch with over 100 national, regional and state channels across sports, news, children’s programming, education, entertainment and cultural content in Hausa, Yoruba, Igbo, Tiv, Ijaw, Edo, Fulfulde, Ibibio, Efik and Nupe – all in HD.
Crucially, the NBC has partnered with a Bulgarian firm, GARB (operating since 2006 and recognised by the European Broadcast Union), to deliver a 94 per cent-accurate audience measurement system using return-path data, app analytics, demographic panels, and Artificial Intelligence (AI).
To qualify broadcasters, must commit their channels, produce a minimum of 60 per cent local content, and promote FreeTV until January 2029.
After that, a regulated tiered rate card takes effect.
According to NBC, the strategic rationale is simple: build viewers first, monetise later.
The document further revealed that six regional production hubs in Lagos, Abuja, Port Harcourt, Enugu, Kano and Benin would function as local content factories, expected to generate 500 to 1,000 jobs per zone within two years.
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