In a bold and emotionally charged move, Canal+ has decided to shut down Showmax, the struggling streaming service it inherited after acquiring Africa’s MultiChoice pay-TV group. But here’s where it gets controversial: despite millions invested and high hopes, Showmax failed to compete with giants like Netflix, leaving many to question the future of African streaming platforms. And this is the part most people miss: the closure isn’t just about financial losses—it’s a symptom of a larger shift in the global streaming landscape, where even well-funded ventures can’t keep up with the big players.
Canal+, which has been aggressively cutting costs since its MultiChoice acquisition, confirmed to Variety that Showmax will be discontinued “soon,” though an exact date remains unclear due to ongoing legal discussions. The decision comes after a comprehensive review of its streaming activities, which revealed that Showmax’s trading losses had worsened by 88% while revenue plummeted. Is this the end of homegrown African streaming platforms? Or is it a necessary step toward financial discipline in a capital-intensive market?
Launched in August 2015, Showmax was MultiChoice’s answer to the rise of global streamers like Netflix, Apple TV, and Amazon Prime Video, which were eroding its traditional pay-TV subscriber base. In 2024, MultiChoice relaunched Showmax in partnership with Comcast’s NBCUniversal, leveraging the technology behind Peacock. However, despite pouring roughly $309 million into content creation and platform upgrades, Showmax failed to meet its growth targets, leaving investors disappointed.
Here’s the kicker: Canal+’s cost-cutting strategy aims to save 400 million euros by 2030, and Showmax’s underperformance made it an easy target. NBCUniversal, which holds a 30% stake in Showmax, watched as the platform’s losses mounted, proving that even deep pockets can’t guarantee success in streaming. Interestingly, Canal+ won’t lay off Showmax staff—thanks to a three-year no-redundancy clause in the MultiChoice takeover—but will reassign them within the company. A thoughtful move, or a bandaid on a deeper wound?
MultiChoice has already begun rebranding Showmax Originals under labels like Africa Magic and Mzansi Magic, with content transitioning to its linear TV channels. This shift comes just two years after Amazon MGM Studios stunned African creators by halting local content commissions, raising questions about the sustainability of African storytelling on global platforms.
But here’s the real question: Will Canal+’s partnership with Netflix, which bundles subscriptions in 24 Sub-Saharan African countries, fill the void left by Showmax? Or is this just another example of global giants dominating local markets? Insiders suggest Canal+ may expand this Netflix-bundling strategy across Africa, effectively sidelining homegrown platforms like Showmax.
For South African filmmakers, Showmax’s closure is a devastating blow. As one award-winning director-producer told Variety, “Showmax was one of the only platforms willing to back bold, authentic stories in a market that plays it safe.” From Koek to Catch Me a Killer, these are stories that rival platforms might never greenlight. Is African creativity being sacrificed for global profitability?
Canal+ CEO Maxime Saada called Showmax’s failure “quite obvious” during an investor call, emphasizing that its budget cuts would aid Canal+’s cost-cutting goals. Yet, he promised continued investment in premium content and innovation for MultiChoice subscribers. But will this be enough to win back African audiences’ trust?
As Canal+ prepares to report its first full-year results post-MultiChoice takeover on March 11, the streaming landscape remains in flux. What does this mean for the future of African entertainment? Will local platforms ever stand a chance against global giants? Or is the era of homegrown streaming over? Let us know your thoughts in the comments—this is a conversation that needs your voice.
