In May 2017, MultiChoice also hiked the premium bouquet from N13, 980 to the present N14,700 and other packages including the GoTV.
The Cable TV will, however, reduce subscription rate on one of its packages on the terrestrial platform, GOTV.
Multichoice financial results for the year ended March 31, 2018 show a big decline in DStv Premium subscribers.
PAY TV Company, MultiChoice Nigeria, has announced plans to increase DSTV subscription rates for the second time in 14 months.
The company also announced that it will reduce subscription rate on its terrestrial platform, GOTV from August 1, 2018.
In a text message distributed to subscribers on Monday, July 10, 2018, and seen by Business Insider Sub-Saharan Africa, MultiChoice said the GOTV max subscription will be N3,200 per month from August 1, 2018.
“Great news, effective 1 August 2018, GOTV Max subscription will be NGN 3200.” The current rate for GOTV Max package is N3,800.
But rates other GOTV packages will remain same at N1,900, N1,250 and N400.
In a similar report, the Pay TV also announced an increase in its DSTV packages, through the same channels of communication to its subscribers.
In the message, DSTV said: "Dear customer, please be advised that DSTV Family subscription will change to N4,000 from August 1, 2018. Thank you for your support."
Another reads: "Dear customer, please be advised that DSTV Premium subscription will change to N15,800 from August 1, 2018."
The new price is reported to be from N14,700 to N15,800 for the Premium package; Compact Plus from N9,900 to N10,650; Compact from N6,300 to N6,800; Family from N3,800 to N4,000 and on Access, N1,900 to N2,000.
This is not the first time the Cable TV will be increasing its subscription fees, 14 months ago, MultiChoice increased its subscription by 5% despite outcry from Nigerians. Precisely, May 2017, MultiChoice hiked the premium bouquet from N13, 980 to the present N14,700 and other packages including the GoTV.
John Ugbe, managing director of Multichoice Nigeria had said the increment was necessitated owing to the then current inflation rate (at 19%) and the troubled foreign exchange regime in the country.
Businesses in Africa's largest economy are trying to stay afloat after the country emerged from its worst economic recession in almost 25 years.
The Nigerian government recently signed the 2018 national budget into law at a time businesses are already filing in their half-year report.
Two weeks ago, MultiChoice announced that high-end subscribers declined from 1.962 million to 1.921 million over the last year.
After Naspers - MultiChoice parent company - released its financial results for the year ended March 31, 2018, the figures show a big decline in MultiChoice’s DStv Premium subscribers.
This accounted for the lost 41,000 high-end subscribers who use the DStv Premium decoder from the video entertainment and internet company.