Multichoice subscription revenue: Nigeria leads other African countries

Despite high inflation, fuel shortages and frequent power outages in Nigeria, South African pay-TV operator MultiChoice Group's full-year 2022 results showed Nigeria leading the Rest of Africa (RoA) in subscription revenue percentage and year-on-year subscription growth.

Nairametrics reviews showed that Nigeria ranked first with 11% YoY subscription growth and 43% of full-year 2022 subscription revenue compared to other African countries with MultiChoice presence such as Kenya, Zambia and Angola.

Growth was driven by regionalization, which yielded positive results to unlock market potential and an agreement with FIRS to defer litigation and initiate a tax audit.

Also, the popularity of local content like Big Brother Naija had a massive impact on the performance of RoA operations.

Kenya followed with a 4% decline in year-over-year subscription growth and a  9% growth in subscription revenue for the fiscal year. Zambia experienced a 3% year-over-year decline in subscription growth and a  7% growth in subscription revenue in FY2022, while Angola lagged with 1% year-over-year subscription growth and 5% in subscription revenue in FY2022.