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Canal+, a French premium television channel, plans to shut down the streaming service Showmax as part of cost-cutting measures after acquiring MultiChoice, Variety reported on Thursday.
Both companies confirmed that the platform will be discontinued, though a specific shutdown date has not been announced.
A statement from the companies said, “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.”
Launched by MultiChoice in August 2015, Showmax was intended to compete with global platforms such as Netflix, Apple TV+, Prime Video, and Disney+.
In February 2024, MultiChoice partnered with NBCUniversal to relaunch the platform using Peacock technology, but subscriber growth fell short of expectations despite significant investment.
Variety reported that MultiChoice and NBCUniversal invested approximately $309 million into Showmax for content production and platform development, but trading losses worsened by 88% in MultiChoice’s last annual report before the Canal+ takeover, while revenue declined.
Since acquiring MultiChoice in September 2025, Canal+ has pursued aggressive cost-cutting measures, aiming to save around €400 million by 2030.
MultiChoice emphasised that no jobs would be lost due to the shutdown, citing a clause in the Canal+ takeover agreement that protects staff from 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.
Some Showmax Originals have already begun being rebranded for MultiChoice’s television channels, including Africa Magic, M-Net, Mzansi Magic, and kykNET.
Despite the closure, Canal+ said it would continue investing in premium content and technological innovation for MultiChoice subscribers.
