Canal+ to shut down Showmax after a decade of losses

By Thebe Mabanga 

French media giant Canal+ has announced plans to close MultiChoice’s streaming platform Showmax, just over ten years after it launched in August 2015, following mounting losses and a strategic shift after its takeover of the African broadcaster.

No official closing date has been announced.

In a statement released on Thursday, the company said the decision was aimed at achieving “financial discipline and investment optimisation in an increasingly competitive and capital-intensive global streaming environment.”

“The substantial annual losses experienced by the Showmax business have proved unsustainable,” the company said.

“The decision to phase out Showmax reflects our focus on building a sustainable, competitive business for the long term in an increasingly demanding global streaming environment.”

Showmax’s losses surged 88% in the 2025 financial year, rising from R2.6 billion to R4.9 billion, according to the company.

Canal+ said it would continue investing in premium content for MultiChoice subscribers, technological