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MultiChoice has announced the impending shutdown of Showmax, the streaming platform once championed as the cornerstone of the group’s future growth strategy across the continent. The decision marks the end of a high-stakes effort to dominate the African video-on-demand market and underscores the financial pressures of the global streaming wars.
The announcement comes after MultiChoice was integrated into the French media powerhouse Groupe Canal+, which took control of the company in September 2025. According to a formal statement, the Showmax board reached the decision following a comprehensive review of the group’s streaming activities.
MultiChoice cited the business’s massive annual losses as unsustainable within an “increasingly competitive and capital-intensive global streaming environment”.
“The decision to phase out Showmax reflects our focus on building a sustainable, competitive business for the long term in an increasingly demanding global streaming environment,” the company stated.
While Showmax was originally launched in 2015 to pre-empt Netflix’s entry into Africa, its recent Showmax 2.0 relaunch powered by a partnership with Comcast’s NBCUniversal and Sky failed to meet ambitious targets. Former executives had projected a reach of 16 million active subscribers and an annual revenue goal of roughly R16.5 billion.
However, reality proved starkly different. In the 2025 financial year, Showmax’s losses ballooned by 88%, rising from R2.6 billion to R4.9 billion. Despite a 44% year-on-year increase in paying subscribers, the platform generated only R750 million in revenue, a fraction of its multi-billion rand targets. The platform’s heavy reliance on a R12 billion loan facility to fund working capital had also begun to raise red flags among lenders regarding loan covenants.
Canal+ leadership has been notably candid about the platform’s trajectory. In January, Canal+ CEO Maxime Saada remarked that Showmax was not a commercial success, describing its underperformance as obvious given the aggressive investment in marketing and technology. Canal+ Africa CEO David Mignot reinforced this in February, confirming that the business was “simply not working from a financial perspective.”
Despite the shutdown, MultiChoice has moved to reassure its current user base. In a direct communication to customers, the company noted: “You can continue streaming as usual, and no action is required from you at this time. We understand that this news may raise questions.”
The group further emphasised its commitment to its workforce and its audience during this transition. “The decision to discontinue Showmax services will not involve any retrenchments. The Group will be engaging and supporting employees through various transition options,” the company said. MultiChoice added that subscribers remain a priority, stating, “We are working on plans to ensure clear communication and a smooth transition when the time comes.”
The move appears to be a consolidation effort by Canal+, which operates its own streaming application in over 30 countries. The French giant plans to deploy its own “in-house large-scale streaming platform” tailored to meet the expectations of both African and international consumers.
As Showmax begins its phased exit, MultiChoice maintains that the lessons learned will inform its evolution. “Showmax subscribers are a priority for us, and we are working on plans to ensure clear communication and a smooth transition when the time comes,” the company concluded. Specific timelines and next steps for the migration of services are expected to be shared with the public in the coming months.
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