Daybreak, Politics, Entertainment, Sport

Tag: Multichoice

Multichoice’s Betting Expansion Amidst DSTV Decline
Multichoice, the pay-TV operator, has witnessed significant growth in its betting business in Nigeria, with its betting platform, KingMakers, experiencing a 37% increase in users for the financial year ending March 31, 2024. This growth was highlighted in the company’s recently released financial results.
This surge comes amidst an 18% decline in subscribers for its main business, DStv and GOtv, partly attributed to economic challenges and consecutive price increments over the past year. The decline indicates a shift towards betting among Nigerians, seen as a means of coping with economic difficulties and hoping for additional income through gambling.
While Multichoice faced declines in its pay-TV business across operations, it reported a 26% year-on-year revenue increase from Nigeria in constant currency in its online gaming business. However, in reported currency (USD), the $147 million revenue for the year was 26% lower than FY23 due to the impact of the weaker naira. Despite this, KingMakers reported a positive EBITDA of USD2 million, with a retained cash balance of USD113 million at the end of December.
In its overall financial performance for the year, Multichoice reported a loss of 4.148 billion rands ($224.87 million), an increase from a loss of 2.9 billion rands ($157.21 million) the previous year, attributing it to foreign exchange losses in Nigeria, Kenya, Zambia, and Angola.
Multichoice ventured into the betting business in Nigeria by acquiring a 20% stake in Nigerian online sports betting company BetKing, now known as KingMakers, for R1.3 billion in 2020. In 2021, it increased its stake to 49% for $281.5 million. Leveraging its extensive sports coverage, Multichoice aimed to boost the betting business. Internal data cited by KingMakers showed that 77% of DStv subscribers are active betters or engage in match predictions, providing a vast customer base for a betting product.
The move aligns with the remarkable growth projections of Africa’s gambling market, which was predicted to reach a value of $37 billion by 2022, with sports betting accounting for most of that growth. MultiChoice’s acquisition was driven by the impressive growth projections of the sports betting industry.
June 17, 2024
Senate asks Multichoice to reduce prices of DSTV, GOTV packages
The senate has asked Multichoice, owners of DStv and GOtv, to reduce the prices of its packages owing to the prevailing economic circumstances of the country.
Last week, Multichoice increased its prices of its DStv and GOtv packages.
The resolution of the upper legislative chamber followed by a motion sponsored by Abba Moro, senator representing Benue south, on Wednesday.
More to follow…
Advertisement
March 30, 2022
MultiChoice Announces Audition for Nigerian Idol Season 7
Leading media and entertainment company, MultiChoice Nigeria, has announced the return of the singing competition Nigerian Idol. Last season saw Kingdom Kroseide clinching the crown as the sixth winner of the show.
Announcing the new season, Executive Head, Content and West Africa Channels at MultiChoice Nigeria, Busola Tejumola, said: “MultiChoice remains committed to promoting and giving young music talents in Nigeria a platform to shine and actualize their dreams. Season seven promises to be even bigger and more entertaining.”
For the seventh season, online auditions will open on November 14 and close on November 28. Interested contestants are advised to upload a 60-second video of them singing any song of their choice to the Africa Magic website. The competition is only open to contestants between 16 and 30 years of age.
The show will return to the DStv and GOtv screens in February 2022.
November 13, 2021
MultiChoice heads to court as tribunal strikes out appeal over $342m VAT Dispute
The tax appeal tribunal (TAT) has struck out an appeal instituted by MultiChoice Africa B.V Holdings where it challenged the assessment of the Federal Inland Revenue Service (FIRS) over unpaid value-added tax (VAT) amounting to $342 million.
MultiChoice Africa is the parent company of MultiChoice Nigeria Limited, owner of DStv and Gotv.
The VAT allegation is different from the ‘tax evasion’ dispute against MultiChoice Nigeria Limited — which is still at the Lagos tribunal.
Mohammed Nami, FIRS chairman, had alleged that MultiChoice Africa, which provides services to its Nigerian arm, has never paid VAT.
Nami had put the figure at $342.5 million.
“Information currently at the disposal of FIRS has revealed a tax liability for relevant years of assessment for N1.82 trillion and $342.5 million,” he had said.
The tribunal, while delivering its judgment on Tuesday, upheld the preliminary objection of the FIRS against the appeal of MultiChoice Africa.

The judgment document sighted by TheCable, A.B Ahmed, chairman of the tribunal, said the appeal is incompetent since the appellant did not conform with the provisions of Order III, Rule 6 of the Tax Appeal Tribunal (Procedure) rules, 2021.
The rule stipulates that an appellant is to deposit half of the assessed amount it is disputing before it can be heard on appeal.
In addition to depositing the sum, the appellant is expected to file along with its appeal an affidavit verifying the payment which the company also failed to comply with.
According to the tribunal, the sum is to be paid as a security for the hearing of any tax appeal.

“For an appeal against the tax authority, the aggrieved person will pay 50% of the disputed amount into designated account by the Tribunal before hearing as security for prosecuting the appeal”.
In a statement on Wednesday, MultChoice Africa rejected the ruling of the tribunal.
The company said it would lodge an appeal against the ruling at the Federal High Court, adding that the TAT ruling was based on technicality rather than the merits of the case.
“MAH respectfully disagrees with the ruling, which was based on a technicality rather than the merits of the case. Therefore, we will be lodging an appeal at the Federal High Court against the ruling,” the statement reads.

“This tax appeal is a separate and distinct matter from the appeal launched by MultiChoice Nigeria (MCN), in which the TAT found in MCN’s favour last week, allowing it to proceed with that appeal.”
The FIRS had served a notice of assessment of unpaid VAT to MultiChoice Africa on June 16, 2021, but the company challenged the assessment and filed an appeal at the tribunal.
It, however, failed to make the required deposit as stipulated by the tribunal rules.
October 28, 2021
Tax Evasion: Tribunal Orders Multichoice to Pay N900bn to FG
The Tax Appeal Tribunal (TAT) sitting in Lagos has ordered Multichoice Nigeria Limited, DSTV, to pay 50 per cent of N1.8 trillion which the Federal Inland Revenue Service (FIRS) had determined through a forensic audit to be the amount in taxes that Multichoice Nigeria Limited had failed to pay to the federal government in past assessment years.
Fifty per cent of the backlog is N900 billion.
The five-member TAT led by its Chairman, Prof. A.B. Ahmed, issued the order following an application to it by the counsel to FIRS.
The FIRS Counsel made the application under Order XI of the TAT Procedure Rules 2010 which enables a party to make an application at any stage of the proceedings.
Counsel for FIRS drew the attention of the Tribunal to Paragraph 15(7) of the Fifth Schedule to the Federal Inland Revenue Service (Establishment) Act 2007 and urge the tribunal to direct Multichoice to deposit with the FIRS 50 per cent of the amount of the assessment under appeal as security and a condition that must be fulfilled before the prosecution of the appeal brought before the tribunal.
The details of the development was contained in a statement issued Wednesday by Director, Communications and Liaison Department, FIRS, Dr. Abdullahi Ismaila Ahmad.
In certain defined circumstances to which the Multichoice appeal fits, Paragraph 15(7) of the Fifth Schedule to the Federal Inland Revenue Service (Establishment) Act 2007 (FIRS Act) requires persons or companies seeking to contest a tax assessment to pay all or a stipulated percentage of the tax assessed before they can be allowed to argue their appeal contesting the assessment at TAT, the statement added.
Multichoice had filed the matter at the Lagos TAT following its dispute over FIRS’ issuance of Notices of Assessment and Demand Note in the sum of N1.82 trillion on 7 April 7, 2021.
The amount constitutes what the FIRS calculated as due in taxation to the federal government from the company after an investigation over several months to determine the extent to which Multichoice had been evading taxes in Nigeria.
According to the statement, at the Tuesday’s hearing of the matter in Appeal No: TAT/LZ/CIT/062/2021 19/08/2021 (Multichoice Nigeria Limited v. Federal Inland Revenue Service), Multichoice had amended its Notice of Appeal and thereafter sought through its counsel, Bidemi Olumide of AO2 Law Firm for an adjournment of the proceedings to enable it to respond to the FIRS’ formal application for accelerated hearing of the appeal and prayer before the TAT directing Multichoice to produce before the tribunal the integrated annual report and Management Account Statements of Multichoice Group Ltd for Tax Years 2012 to 2020., among other prayers.
In response, however, the FIRS counsel asked TAT to issue an order requiring that Multichoice makes the statutory deposit of 50 per cent of the disputed sum.
After hearing arguments from both sides, TAT upheld the FIRS submission and directed Multichoice to deposit with the FIRS an amount equals 50 percent of the Assessment under the Appeal plus a sum equal to 10 per cent of the said deposit as a condition precedent for further hearing of the appeal.
Thereafter, TAT adjourned the appeal to September 23, 2021 for report of compliance with its order and continuation of the hearing, subject to compliance with the tribunal’s order.
August 25, 2021
FIRS moves to recover N1.8trn from MultiChoice Group
The Federal Inland Revenue Service (FIRS) on Thursday said it is working with some commercial banks in Nigeria to recover the sum of N1.8 trillion from accounts of MultiChoice Nigeria Limited (MCN) And MultiChoice Africa (MCA).
This was contained in a statement issued and made available to DAILY POST on Thursday by the FIRS Chairman, Muhammad Nami.
According to the statement, the service decided to involve the banks as agents to aid in freezing the accounts over the inability of the groups to grant FIRS access to its servers for audit.
The FIRS Chairman accused the companies of persistently breaching all agreements and undertakings with the service, stating that the group refused to respond to correspondences “and are not transparent as they deliberately refused to allow FIRS to access their important records”.
“Particularly, MCN has avoided giving the FIRS accurate information on the number of its subscribers and income. The companies are involved in the under-remittance of taxes which necessitated a critical review of the tax-compliance level of the company”, the statement added.
He lamented that some companies come into the country to “infringe on our tax laws by indulging in tax evasion. There is no doubt that broadcasting, telecommunications and the cable-satellite industries have changed the face of communication in Nigeria. However, when it comes to tax compliance, some companies are found wanting. They do with impunity in Nigeria what they dare not try in their countries of origin.”
July 8, 2021
Nigerians react as Multichoice MD reveals 900million people voted in BBNaija season 5 making it the highest ever recorded votes
John Ugbe, the Managing Director of MultiChoice Nigeria, parent production company of the Big Brother Naija franchise, disclosed that the just-concluded Big Brother Naija season recorded the highest votes ever in the history of the show.
He made the revelation today, September 30, at a media briefing and presentation of prize money to Laycon, who won the Lockdown edition of the show.
According to Ugbe, the cost of producing the show was N3.5bn. He added that the show recorded 900 million votes from the different voting platforms.
Twitter users are reacting to this revelation, causing “900 million” to trend.
September 30, 2020
Nigerians react as DSTV reveals N3.5 billion was invested on Big Brother Naija season 5
Nigerians on social media have reacted to a tweet from DSTV Nigeria that disclosed how much they invested in the ongoing BBNaija 2020 reality TV show.
In the tweet, DSTV mentioned that the production of the reality show took a sum of 3.5 billion from them. According to the CEO of Multichoice, John Ugbe, DSTV Nigeria won’t stop investing on shows that would put smiles on their customers faces.
This tweet has got lots of Nigerians talking. See their reaction below;
vuaclothing wrote “And i am sure u guys hv made triple of that money”
mimifastino wrote “Very expensive show. I wonder if they’ll even make money after evicting Baby G. She had the African vote. And a lot of people have switched off. Only Nigerians are voting now. Let’s look at costs. Diesel, staff, production, equipment, license fees to Endemol, subscription split with S.A. parent, taxes to Lagos State etc etc. Not even the other African countries can afford to do BBN. Too many overheads.”
natashaemeralda wrote “Akuko negwu mike ejeagha, y are u telling us? Maybe I ain’t making money like the previous seasons. Ur content has left so watch ur show in peace and don’t disturb me”
camillavon wrote “So you know your ratings dropped for disqualifying Erica…next time don’t evict the entertainers of the show”
natashaemeralda wrote “Akuko negwu mike ejeagha, y are u telling us? Maybe I ain’t making money like the previous seasons. Ur content has left so watch ur show in peace and don’t disturb me”
September 11, 2020