French media company Canal+ is planning to discontinue the video streaming platform Showmax as part of a broader cost-cutting strategy following its acquisition of MultiChoice Group.
The companies confirmed that the Showmax board approved the decision after reviewing the streaming service’s financial performance. While no specific shutdown date has been announced, the platform is expected to be discontinued once legal and operational issues are resolved.
Decision Driven by Financial Pressures
According to MultiChoice, the move reflects a shift toward stricter financial discipline and investment optimisation amid intensifying competition in the global streaming industry.
Earlier this year, Canal+ CEO Maxime Saada described Showmax as “not a commercial success,” telling investors that the platform had become a major financial burden.
In MultiChoice’s last financial report before the takeover:
- Showmax trading losses widened by 88%
- Revenue from the platform declined
- Subscriber growth failed to meet targets set for investors
No Job Losses Planned
MultiChoice said shutting down Showmax would not lead to layoffs.
Under the terms of Canal+’s takeover agreement, staff cannot be retrenched for three years following the acquisition.
“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.
Background: Showmax’s Streaming Ambitions
Showmax was launched in August 2015 by MultiChoice as a pan-African streaming platform designed to compete with global services such as:
- Netflix
- Apple TV+
- Amazon Prime Video
- Disney+
In February 2024, MultiChoice relaunched Showmax in partnership with NBCUniversal, using the technology behind its streaming platform Peacock.
The relaunch involved significant investment. MultiChoice and NBCUniversal collectively injected about $309 million into the platform to upgrade technology and expand its content library.
Despite the investment, the platform struggled to achieve the aggressive subscriber growth it was expected to achieve.
Canal+’s $3 Billion MultiChoice Deal
Canal+ completed its $3 billion acquisition of MultiChoice in September 2025, creating a media group serving over 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia.
The combined company now employs roughly 17,000 people.
Following the integration, Canal+ said it will continue investing in:
- Premium entertainment content
- Sports broadcasting
- Digital innovation
- Strategic partnerships across Africa
“We want to reassure our Showmax subscribers that they are our priority as we evolve our services to deliver a superior streaming experience,” the company said.
A detailed strategic update outlining the future direction of the merged media group is expected in early 2026.
