MultiChoice has announced plans to shut down its streaming platform Showmax after a review of the company’s digital entertainment operations.
The company said the decision was approved by the Showmax board after assessing the platform’s financial performance. MultiChoice, which was acquired by French media group Canal+ in 2025, said the streaming service had been recording large annual losses.
“The substantial annual losses experienced by the Showmax business have proved unsustainable,” MultiChoice said in a statement. The company said the move is part of efforts to build a more sustainable and competitive business in the global streaming industry.
MultiChoice said the closure will not lead to job losses. The company added that employees affected by the decision will receive support as the business shifts to new operations.
Canal+ plans to introduce its own large-scale streaming platform to serve both African and international audiences. The broadcaster said it will continue investing in premium content, technology and strategic partnerships to strengthen its presence in the African entertainment market.
The announcement follows months of concerns raised by Canal+ leaders about the financial performance of Showmax since the French company completed its takeover of MultiChoice in September 2025.
Canal+ chief executive Maxime Saada earlier said the platform had not achieved commercial success despite heavy spending on marketing, content and technology. MultiChoice chief executive David Mignot later confirmed that the streaming service could not continue in its current form because it was not financially viable.
Financial results released by MultiChoice showed that Showmax losses increased sharply. The platform’s losses rose by 88 per cent from R2.6 billion to R4.9 billion. During the same period, revenue reached about R750 million, far below the company’s earlier target of about $1 billion annually.
MultiChoice had invested heavily in relaunching the service. The company spent about R1.7 billion to customise the Peacock streaming technology through a partnership with NBCUniversal and Sky. Under the agreement signed in 2023, NBCUniversal acquired a 30 per cent stake in the new Showmax business while MultiChoice retained 70 per cent.
Showmax 2.0 launched across 44 African markets in February 2024 with new branding, subscription packages and expanded African content, including more than 20 original productions.
Although the number of paying subscribers grew by about 44 per cent in the 2025 financial year, the growth was not enough to offset rising content and technology costs.
MultiChoice first launched Showmax in South Africa in August 2015 as one of Africa’s early subscription video-on-demand platforms. The company had hoped the continent’s growing number of smartphone users and strong demand for entertainment would drive streaming growth.
However, the expected expansion did not materialise at the scale required. Canal+ said it will now focus on strengthening its own streaming platform in markets where MultiChoice operates, including across Africa.
The company added that Showmax subscribers will remain a priority as it develops new services and content offerings in the coming months.
