File Image: IOL
MultiChoice, the company that owns DStv, has increased prices on monthly subscriptions following reports that the company was facing financial constraints.
The new prices will become effective on April 1, 2024 with increases ranging from 3.1% to 7.5%.
The most hike will be on three packages- Premium, Compact Plus, and Compact.
DSTV Premium subscribers will have to pay 5.7% more this year, taking the buoquet price to R929 from R879 last year, while the Compact Plus has increased by 6.9% to R619 from R579 last year. DSTV Compact viewers will be paying R469 from R449, a 4.5% increase.
Last year, Tim Jacobs, MultiChoice’s CFO, said the increases were crucial for ensuring sustainable growth and the ongoing delivery of high-quality content on the TV network.
Jacobs said for many years, especially in South Africa, they had priced their products at less than half of inflation, keeping a close eye on consumers’ wallets.
“For many years, especially in South Africa, we have priced our products at less than half of inflation. We’ve been concerned and watching the consumer’s wallet,” Jacobs said.
For the six months ending on September 30, 2023, MultiChoice reported a 1% drop in revenue to R28.33-billion, with its South African revenue falling by 3%.
The company also experienced a significant loss of R911-million, a substantial decline from the R55-million profit reported during the same period last year.
According to Jacobs, the company is at a point where it needs to be more disciplined about recovering costs, especially with factors like load shedding and decreasing revenue numbers putting pressure on DStv.
Other DStv packages will cost you:
– DStv Access: R139 (a 7.5% increase, from R129)
– DStv Family: R329 (a 3.1% increase, from R319)
– DStv Access Dee: R120 (a 4.3% increase, from R115)
– DStv EasyView: R29 (no increase)
IOL News