South Africa remains MultiChoice Group’s biggest market

MultiChoice Group experienced a 31% decline in revenue from Nigeria in 2024 compared to 2023. Nigeria represented 35% of the group's Rest of Africa (RoA) subscription revenue in 2024, down from 44% in 2023. South Africa's contribution to subscription revenue grew from 56.2% in 2023 to 58.4% in 2024. Meanwhile, Nigeria's share of the total revenue dropped from 18.7% in 2023 to 13.9%.

Source:

MultiChoice Group

Period:

2024
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Over 500 million people subscribe to the two largest streaming services
  • Netflix leads the global streaming market with 301.63 million subscribers
  • Amazon Prime follows with 200 million, making these two platforms account for over 500 million subscribers combined
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The top 15 food items faced price hikes worth more than ₦2,000 in 19 months since May 2023
Key takeaways: 
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  • The top 20 food items saw price hikes of at least ₦1,900.
  • The cost of a medium-sized crate of eggs more than tripled between May 2023 and December 2024.
20 food items with the highest price increases in Nigeria between May 2023 and Dec. 2024
Key Takeaways:
  • The top 20 food items witnessed extreme inflation, surpassing 200%.
  • Onions and yams lead the list with remarkable price hikes of 353% and 317%, respectively.
  • Various types of rice exhibited significant price increases (310% for Ofada rice, 250% for local rice, etc).
  • Basic protein sources such as eggs (207%) and chicken (202%) saw their prices more than double, making them increasingly less affordable.
Spotify’s entry into Nigeria has driven artiste success and streaming revenue
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  • Spotify’s influence on Afrobeats has been reinforced through curated campaigns like "Afrobeats: Journey of a Billion Streams" and multiple industry events.
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December 2024 saw the highest year-on-year increase in average movie ticket prices
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