Nigeria: StarTimes And Multichoice Give Reasons For Prices Increase
Nigeria's PayTV operators have recently been in a bit of negative news cycle after following the announcement of price hikes on their respective TV packages and services.
Multichoice Nigeria, who recently informed its customers of impending price increases on its compact plus and compact packages has cited the recent naira devaluation, high inflation and VAT price increase as the reasons why they have to put up their price. The DStv and GOtv price increment is said to be effective from the 1st September 2020.
In a similar vein, StarTimes Nigeria, who has increase prices of its subscription packages since the beginning of August 2020 also blamed the Nigeria VAT rate increase as well as unfavourable foreign exchange situation.
According to Viki Liu, StarTimes brand and marketing manager, said: "Our business is not exempted from the effect of the naira depreciation affecting all companies in the country. All of our foreign content is bought in dollars, and to serve our subscribers continually with the best content, our subscription prices has to be reviewed upwards.