MultiChoice Group has announced the discontinuation of its flagship streaming platform, Showmax, citing unsustainable financial losses that have culminated in R4.9 billion for the 2025 fiscal year.
The decision, revealed in an official statement from the company now under the umbrella of French media conglomerate Groupe Canal+, marks the end of an era for a service that once promised to rival global giants like Netflix and Disney+ on the continent.
Showmax, launched in 2015 as MultiChoice’s answer to the burgeoning demand for on-demand video content, quickly became a hub for African storytelling. The platform gained popularity for its mix of international hits and locally produced series, particularly in markets like Nigeria, South Africa, and Kenya.
Among its standout offerings were Nollywood-inspired dramas such as “WURA,” a gripping tale of corporate intrigue and family secrets set in the cutthroat world of mining; “Flawsome,” a stylish exploration of female empowerment and modern relationships in Lagos; and “Diiche,” a psychological thriller delving into mystery and identity with a supernatural twist. These shows not only amassed loyal viewership but also showcased emerging African talent, contributing to the platform’s reputation as a champion of homegrown content.
However, beneath the glitz of its programming lay mounting financial woes. MultiChoice’s 2025 annual results painted a dire picture: Showmax’s trading losses surged by 88% from R2.6 billion the previous year to R4.9 billion, exacerbated by sluggish subscriber growth, fierce competition from international streamers, and escalating operational costs.
Revenue for the platform also dipped significantly, hampered by the discontinuation of ancillary services like Showmax Pro—a sports-focused add-on—prior to a failed relaunch attempt. “The substantial annual losses experienced by the Showmax business have proved unsustainable in an increasingly competitive and capital-intensive global streaming environment,” MultiChoice stated, emphasizing the need for a strategic pivot to stem the bleeding.
The shutdown comes just months after Canal+ finalized its acquisition of MultiChoice in September 2025, a move that initially sparked optimism for Showmax’s revival through synergies with the French firm’s robust content library and international reach.
Yet, Canal+ executives, including CEO David Mignot, had been vocal about the platform’s underperformance, declaring in February that Showmax “can’t continue in its current form” following the revelation of those staggering losses.
Industry analysts point to broader challenges facing African media, including economic pressures like currency fluctuations, piracy, and limited broadband penetration, which have stifled subscriber acquisition despite a growing appetite for digital entertainment.
For MultiChoice as a whole, the decision is part of a larger restructuring amid its own ballooning group losses, which echoed Showmax’s trajectory in 2025. The company, best known for its DStv satellite TV service, has seen its linear subscriber base erode by 8% to 14.5 million, split evenly between South Africa and the rest of Africa, as consumers shift toward cheaper streaming alternatives.
In its statement, MultiChoice assured that it would support affected employees through “various transition options,” though details on job impacts remain sparse.
The closure raises questions about the future of African content creation. With Showmax’s shutdown, platforms like Netflix and local upstarts may fill the void, but critics worry it could diminish investment in original African productions.
Subscribers have until the end of April to access their accounts, after which the service will go dark.
WHAT YOU SHOULD KNOW
MultiChoice has shut down its streaming platform. Showmax, after it racked up unsustainable losses of R4.9 billion in 2025.
Despite strong local streaming platforms, Showmax could not overcome fierce global competition, slow subscriber growth, and skyrocketing costs in Africa’s challenging streaming market.
