Canal+ Pulls the Plug on Showmax in Major Streaming Shake-Up

Canal+ has decided to shut down the video streaming platform Showmax as part of sweeping cost-cutting measures following its acquisition of MultiChoice, according to an exclusive report by Variety.

The companies confirmed that the streaming service will be discontinued after a strategic review of their digital operations, though an exact shutdown date has not yet been announced.

In a statement, the company said the move reflects a renewed focus on financial discipline in an increasingly competitive global streaming industry.

“The decision to axe Showmax was made by the Showmax board and reflects the continued focus of MultiChoice, a Canal+ company, on financial discipline and investment optimisation in an increasingly competitive and capital-intensive global streaming environment,” the company said.

Showmax was launched by MultiChoice across Africa in August 2015 to compete with global streaming giants such as Netflix, Apple TV+, Prime Video and Disney+. In February 2024, the platform was relaunched in partnership with NBCUniversal, a subsidiary of Comcast, using the technology that powers the Peacock streaming service.

Despite the overhaul and heavy investment in content and technology, the revamped platform struggled to meet subscriber growth targets.

According to Variety, MultiChoice and NBCUniversal invested about $309 million in equity funding to support content production and platform development. However, expected growth failed to materialise, while Showmax’s trading losses worsened by 88 per cent in MultiChoice’s last annual financial results before the Canal+ takeover. Revenue from the platform also declined during the period.

Canal+ took control of MultiChoice in September 2025 and has since launched aggressive cost-cutting initiatives aimed at saving about €400 million by 2030. The decision to discontinue Showmax was reportedly approved by the platform’s board as part of efforts to optimise investments and strengthen the company’s financial position.

MultiChoice said the shutdown would not result in job losses because the takeover agreement with Canal+ prevents staff retrenchment for three years.

“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 stated.

In the meantime, several Showmax Originals are already being rebranded and moved to MultiChoice’s television channels, including Africa Magic, M-Net, Mzansi Magic and kykNET.

The planned shutdown comes amid broader changes in the streaming landscape in Africa. Earlier in January 2024, Amazon MGM Studios announced it would stop commissioning new original content in Africa.

Canal+ Chief Executive Officer Maxime Saada had also indicated during an investor call earlier this year that Showmax had not been commercially successful and that a decision on its future would soon be made.

Despite the move, Canal+ says it will continue investing in premium content and technological innovation for MultiChoice subscribers as it seeks to strengthen its footprint in Africa’s entertainment market.

In recent years, Showmax had experimented with several subscription models tailored to African audiences, including mobile-only entertainment plans and a dedicated English Premier League streaming package that allowed fans to watch matches live on their phones at lower subscription rates.