Canal+ is shutting down Showmax, the pan-African streaming service it inherited in its acquisition of MultiChoice.
The move marks a pivot from direct competition with global streamers toward aggressive cost-cutting and bundling partnerships.
Driving the News
After years of attempting to build a “Netflix of Africa,” Canal+ and MultiChoice confirmed to Variety that Showmax will be “soon” discontinued following a comprehensive review.
- The financial drain: MultiChoice and partner NBCUniversal injected roughly $309 million into a 2024 relaunch using Peacock’s technology, but the investment failed to hit subscriber targets.
- Worsening losses: In its final pre-takeover results, Showmax’s trading losses spiked by 88% while revenue declined.
- The “Obvious” failure: Canal+ CEO Maxime Saada recently described Showmax as “not a commercial success,” making its axe a key pillar of a 400 million euro cost-saving goal by 2030.
By the Numbers
- 11 years: The lifespan of Showmax since its 2015 launch.
- 30%: NBCUniversal’s stake in the joint venture.
- 0 (Zero): The number of immediate layoffs. Per the takeover agreement, staff will be reassigned within the broader company for at least three years.
The Strategic Pivot
Canal+ is moving away from the high-stakes “streaming wars” model to focus on aggregation.
- The Netflix Alliance: Instead of fighting global giants, Canal+ is expanding a distribution deal to bundle Netflix subscriptions into its traditional pay-TV offerings across Sub-Saharan Africa.
- Content Recycling: “Showmax Originals” are already being rebranded as linear content for channels like Africa Magic and M-Net.
- Efficiency: By killing the “money-guzzling” standalone app, Canal+ hopes to stabilize the combined group’s balance sheet before reporting financial results on March 11.
Between the Lines
The closure is a massive blow to the African creative industry, following Amazon MGM Studios’ 2024 exit from the continent.
Local filmmakers argue that Showmax was one of the few platforms willing to fund “bold and authentic” stories that traditional broadcasters avoid. With both Amazon and Showmax gone, the avenue for high-budget, local prestige TV in Africa has narrowed significantly.
“If 2026 is the Year of the Horse, it feels like this one is getting sent to the factory to be turned into glue,” one South African director told Variety.
What’s next: Canal+ is expected to provide further details on its “expanded content offering” and the official shutdown date during its financial results presentation on March 11.
