Overview
- Canal+ and MultiChoice confirmed the discontinuation of Showmax after a board review, with no final shutdown date yet and service continuing for now.
- MultiChoice cited steep, worsening losses at Showmax, including roughly R4.9 billion in the FY2025 peak investment year after an 88% jump from the prior year.
- Showmax was relaunched in February 2024 on Comcast’s Peacock technology, with NBCUniversal holding about a 30% stake and substantial equity funding, but subscriber and revenue goals fell short.
- Companies say there will be no retrenchments as employees are reassigned, with Showmax Originals already being retagged for Africa Magic, M-Net, kykNET and Mzansi Magic, and plans to deploy in‑house streaming tech and pursue partnerships.
- The closure drew criticism from creators and South Africa’s EFF over reduced commissioning for local content, while Netflix executives in Johannesburg reiterated the streamer’s ongoing investment in Africa.