For nearly a decade, Showmax stood at the centre of MultiChoice’s ambitions to compete in the global streaming arena. Now, that chapter is nearing its end.
MultiChoice has confirmed that Showmax will be phased out in South Africa, following a strategic review of the group’s streaming operations after the company came under the control of French media giant Canal+, according to BusinessTech.
MultiChoice said the decision was taken after a detailed assessment of Showmax’s financial performance and its position within a highly competitive global streaming market.
The company acknowledged that the platform’s ongoing losses had become difficult to sustain.
‘The substantial annual losses experienced by the Showmax business have proved unsustainable,’ the group said.
The Showmax board ultimately approved the move, with MultiChoice explaining that the step aligns with a broader focus on financial discipline and long-term sustainability in a capital-intensive industry.
Despite the looming closure, the company stressed that the change will not result in retrenchments, noting that employees will be supported through transition options as the business evolves.
For existing subscribers, the immediate impact will be minimal.
In a message to customers, Showmax reassured viewers that the platform will continue operating normally while the transition unfolds.
‘You can continue streaming as usual, and no action is required from you at this time,’ the company said.
Subscribers will be informed well in advance about timelines and any changes that may affect their accounts.
MultiChoice added that ensuring a smooth transition for customers remains a priority, with more details expected in the coming months.
While Showmax enjoyed subscriber growth in recent years, the financial picture proved less encouraging.
Reporting from MyBroadband highlights that losses from the platform surged dramatically in MultiChoice’s 2025 financial year, increasing from R2.6 billion to R4.9 billion, an 88% jump.
Revenue during the same period reached roughly R750 million, far below the ambitious target of $1 billion (about R16.5 billion) annually that had once been projected.
Even strong subscriber growth, with paying users increasing by 44% year-on-year, could not offset the rising costs associated with content production, marketing and platform technology.
Those pressures intensified as MultiChoice invested heavily in Showmax 2.0, the revamped version launched across 44 African markets in February 2024.
The relaunch of Showmax was one of the company’s biggest bets in recent years.
MultiChoice invested billions to rebuild the platform, including R1.7 billion in technology advances to customise Peacock streaming software licensed through NBCUniversal and Sky.
Under that partnership, NBCUniversal acquired a 30% stake in the revamped Showmax entity, while MultiChoice retained the remaining 70%.
The upgraded platform introduced new subscription tiers, updated branding and a larger catalogue of local productions, including more than 20 Showmax Originals from across Africa.
Yet despite those efforts, the economics of streaming in Africa proved more challenging than anticipated.
Canal+, which took control of MultiChoice in September 2025, has been increasingly direct about its plans to reshape the business.
The French broadcaster intends to roll out its own large-scale streaming platform designed for both African and international audiences.
MultiChoice said Canal+ will continue investing in premium content, technology and strategic partnerships to strengthen its position in the African entertainment market.
The company has already developed a streaming app used in more than 30 countries, and the possibility of introducing it in markets where MultiChoice operates has been under consideration.
Further details about the replacement platform and expanded content offerings are expected to be announced later.
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