Canal+ to shut down Showmax after MultiChoice takeover

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

• Canal+ is set to shut down the video streaming platform Showmax as part of cost-cutting measures following its acquisition of MultiChoice, according to an exclusive report by Variety on Thursday.
• Canal+ is set to shut down the video streaming platform Showmax as part of cost-cutting measures following its acquisition of MultiChoice, according to an exclusive report by Variety on Thursday.The report said Canal+ and MultiChoice confirmed that the service would be discontinued after a review of their streaming operations, although a specific shutdown date has yet to be announced.“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 added.Showmax was launched across Africa by MultiChoice in August 2015 as a streaming competitor to global platforms such as Netflix, Apple TV+, Prime Video and Disney+.In February 2024, MultiChoice relaunched the platform in partnership with NBCUniversal, a subsidiary of Comcast, using the technology behind the Peacock streaming service.However, the revamped platform reportedly struggled to meet subscriber growth targets despite significant investment in content and technology.According to Variety, MultiChoice and NBCUniversal invested about $309m in equity funding in Showmax to support content production and platform development, but the expected growth did not materialise.Showmax’s trading losses also worsened by 88 per cent in MultiChoice’s last annual financial results before the Canal+ takeover, while revenue declined.Canal+ acquired control of MultiChoice in September 2025 and has since embarked on aggressive cost-cutting measures aimed at saving about €400m by 2030.The report said the decision to shut down Showmax was made by the platform’s board as part of efforts to improve financial discipline and optimise investments in a competitive global streaming market.Despite the shutdown, MultiChoice said there would be no job losses linked to the closure 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 said.MultiChoice has already begun rebranding several Showmax Originals as content for its television channels, including Africa Magic, M-Net, Mzansi Magic and kykNET.Showmax’s planned shutdown comes after Amazon MGM Studios announced in January 2024 that it would stop commissioning new original content in Africa.During an investor call earlier this year, Canal+ Chief Executive Officer Maxime Saada said Showmax had not been commercially successful and that a decision on its future would be taken soon.Meanwhile, Canal+ said it would continue investing in premium content and technological innovation for MultiChoice subscribers as it strengthens its position in the African entertainment market.Showmax had, in recent years, experimented with tailored subscription models aimed at African audiences, including mobile-only entertainment plans and a dedicated English Premier League streaming package that allowed subscribers to watch matches live on their phones at lower subscription rates.