French media group Canal+ has confirmed that it will close the struggling streaming service Showmax after completing its takeover of the platform’s parent company, MultiChoice, Africa’s largest pay-TV operator.
Showmax, which was launched by MultiChoice in 2015, operates in at least 44 African countries and has featured a wide range of African films and television series.
In a statement released on Thursday, Canal+ said MultiChoice, now part of Canal+ SA, will begin the process of shutting down the streaming service. The company said the platform’s ongoing financial losses had become impossible to sustain.
According to the group, Showmax recorded a trading loss of about R2.6 billion in the financial year ending March 2024. Losses increased to roughly R4.9 billion the following year, bringing the combined deficit over two years to around R7.5 billion.
MultiChoice had previously invested heavily in an effort to revive the service. Around R3.3 billion was spent on the launch of Showmax 2.0 in 2024, which involved upgrading the platform’s technology and incorporating streaming technology from Comcast’s Peacock platform.
Canal+ chief executive Maxime Saada had earlier acknowledged that Showmax had not achieved the expected commercial success and had been generating significant losses for several years.
Despite the shutdown, the company said the move would not lead to job cuts. Instead, MultiChoice plans to roll out its own large-scale in-house streaming platform aimed at both African and international audiences.
Subscribers were informed of the decision through an email from Showmax, which said the closure is intended to support the long-term sustainability of the business in an increasingly competitive global streaming market.
The acquisition of MultiChoice by Canal+ in September, valued at about 3 billion dollars - roughly R54 billion — created a media group operating in 70 countries across Africa, Europe and Asia. The combined company now employs around 17,000 people and serves more than 40 million subscribers.
Canal+ described the deal as the largest transaction in the company’s history. The French broadcaster already dominates the pay-TV market in French-speaking parts of Africa, while MultiChoice has traditionally led in English- and Portuguese-speaking regions on the continent.
Showmax, which was launched by MultiChoice in 2015, operates in at least 44 African countries and has featured a wide range of African films and television series.
In a statement released on Thursday, Canal+ said MultiChoice, now part of Canal+ SA, will begin the process of shutting down the streaming service. The company said the platform’s ongoing financial losses had become impossible to sustain.
According to the group, Showmax recorded a trading loss of about R2.6 billion in the financial year ending March 2024. Losses increased to roughly R4.9 billion the following year, bringing the combined deficit over two years to around R7.5 billion.
MultiChoice had previously invested heavily in an effort to revive the service. Around R3.3 billion was spent on the launch of Showmax 2.0 in 2024, which involved upgrading the platform’s technology and incorporating streaming technology from Comcast’s Peacock platform.
Canal+ chief executive Maxime Saada had earlier acknowledged that Showmax had not achieved the expected commercial success and had been generating significant losses for several years.
Despite the shutdown, the company said the move would not lead to job cuts. Instead, MultiChoice plans to roll out its own large-scale in-house streaming platform aimed at both African and international audiences.
Subscribers were informed of the decision through an email from Showmax, which said the closure is intended to support the long-term sustainability of the business in an increasingly competitive global streaming market.
The acquisition of MultiChoice by Canal+ in September, valued at about 3 billion dollars - roughly R54 billion — created a media group operating in 70 countries across Africa, Europe and Asia. The combined company now employs around 17,000 people and serves more than 40 million subscribers.
Canal+ described the deal as the largest transaction in the company’s history. The French broadcaster already dominates the pay-TV market in French-speaking parts of Africa, while MultiChoice has traditionally led in English- and Portuguese-speaking regions on the continent.
