Canal+ will shut down Showmax, the African streaming platform run by its newly acquired subsidiary MultiChoice Group, ending an 11-year experiment that once represented the continent’s strongest attempt to challenge global streaming rivals.
The decision, taken by the Showmax board and communicated to subscribers on Thursday, is part of an efficiency drive following the $3 billion takeover of MultiChoice by French broadcaster Canal+.
The streaming service will be wound down in the coming months, although the company has not provided a final closure date as legal processes tied to the acquisition continue to be finalised.
“This decision reflects our focus on strengthening our overall digital offering and ensuring long-term sustainability in an increasingly competitive streaming environment,” the company said in a message sent to customers.
MultiChoice told subscribers that their service would continue uninterrupted for now and that no immediate action was required.
On what happens to the current Showmax content and subscriptions, MultiChoice told TechCabal that “The team is currently working on a subscriber and content and migration plan, we will communicate this with you in the next few weeks.”
Significant restructuring
The closure marks the first significant restructuring move since Canal+ completed its long-pursued takeover of MultiChoice last September. For years, the French group steadily increased its stake in the South African pay-TV operator before eventually moving to acquire full control in a deal that valued the company at roughly R46 billion ($2.7 billion).
Canal+ pushed the acquisition, driven by the belief that Africa represents one of the last major markets for television and streaming. The combined group now reaches more than 40 million subscribers across 70 countries, giving Canal+ a formidable footprint in a market where pay-TV penetration remains low.
Launched in 2015, the platform was conceived as MultiChoice’s answer to global streaming services such as Netflix and Amazon Prime Video. It initially gained traction by combining international series with locally produced African content, and at one point, executives pitched it as the continent’s best chance of building a homegrown streaming giant.
In the three years leading up to the Canal+ takeover, Showmax accumulated losses of about €370 million ($428.9 million). Even after its big relaunch in 2024, Showmax was still struggling.
MultiChoice’s final annual results before the acquisition showed the platform’s trading losses had widened even as revenues declined, highlighting the difficulty of building a profitable streaming business in price-sensitive African markets. The setbacks were particularly striking given the scale of investment poured into the service.
In early 2024, MultiChoice partnered with NBCUniversal, a subsidiary of Comcast, to relaunch Showmax using the technology that powers the American streaming platform Peacock. The partners injected $309 million in new equity, hoping improved technology and a bigger pipeline of original content would accelerate subscriber growth.