Grace Ashiru
Canal+ announced on March 5, 2026, that it will close Showmax, the streaming platform operated by its subsidiary MultiChoice, following a strategic review of digital activities in Africa.
In October 2025, Canal+ finalized the acquisition of MultiChoice for approximately $2 billion after securing regulatory approval from South African authorities, according to the company. Various sources reported the transaction value at between $2 billion and $3 billion.
The acquisition gave Canal+ control over DStv and GOtv services, as well as MultiChoice’s content production and distribution operations. The combined network covers approximately 50 countries and reaches up to 100 million people daily, according to official data from the companies.
In January 2026, Canal+ announced plans to generate more than 400 million euros (approximately $464.7 million) in annual savings through internal restructuring, according to the company’s statement.
In the three years leading up to the Canal+ takeover, Showmax accumulated losses of approximately €370 million ($428.9 million), according to financial disclosures.
In MultiChoice’s financial results for the fiscal year ending March 31, 2025, Showmax’s trading losses increased by 88 percent while revenue declined, according to the company’s final annual results before the acquisition.
MultiChoice reported losing approximately 1.2 million subscribers during that period, reducing its customer base to 14.5 million subscribers.
In early 2024, MultiChoice partnered with NBCUniversal, a subsidiary of Comcast, to relaunch Showmax using technology that powers the Peacock streaming platform. The partners injected $309 million in new equity into the service, according to company announcements.
Showmax has more than three million subscribers, according to reports.
The Showmax board communicated the closure decision to subscribers on March 5, 2026. The company stated that service would continue uninterrupted for now and that no immediate action was required from subscribers.
The company has not provided a final closure date, stating that legal processes tied to the acquisition continue to be finalized. MultiChoice stated that the team is working on a subscriber and content migration plan to be communicated in the coming weeks.
Showmax launched in August 2015 as a subscription video-on-demand platform under MultiChoice. The platform originally operated in 65 countries in 2016.
Canal+ operates its own streaming service, myCanal, which is widely used in Francophone countries. The company was already the sector’s leader in French-speaking African countries before the MultiChoice acquisition, while MultiChoice held leadership positions in the continent’s English- and Portuguese-speaking regions, according to company statements.
The combined group now reaches more than 40 million subscribers across 70 countries across Africa, Europe and Asia, with a workforce of 17,000, according to company data. Canal+ described the transaction as the largest ever undertaken by the company.
