MultiChoice to shut down Showmax following years of financial losses

Pay-Tv company MultiChoice has decided to shut down the operation of Showmax, its video streaming platform. The decision comes following years of financial losses associated with its operation.

According to an email shared with subscribers on Thursday morning, Showmax said that the decision comes after a review by the company’s board.

The development has sent shockwaves across the digital entertainment ecosystem and also to subscribers. However, the outcome was expected for a product struggling to deliver positive earnings amid stiff competition from rivals such as Netflix and YouTube.

For customers currently subscribed to Showmax, the company noted that there will be no immediate interruption to ongoing services for now.

“Importantly, at the moment, there will be no interruption to your current service. You can continue streaming as usual, and no action is required from you at this time,” Showmax said in a statement.

Showmax stressed that customers remain atop its priority and plans are ongoing to ensure a swift transition when the final day of operation comes. It promised to share more details about official timelines and other necessary future steps for subscribers. 

“Streaming remains central to our strategy. We will continue to invest in premium content, technology innovation and partnerships to deliver the best possible entertainment experience to our customers. Thank you for your continued support,” Showmax said.

While the company is now in transition to a total exit, its parent company, MultiChoice, is still in operation. 

Also Read: Canal+ eyes Comcast’s 30% Showmax share as it plots full ownership.

Showmax’s struggles

Incidentally, this is not the first time the video streaming platform will be shutting down.

Showmax has previously shut down its operation outside Africa in December 2023, relating the decision to a strategic move tailored at focusing exclusively on the African market. This follows intense competition from Amazon Prime Video, HBO and the rise of illegal, cheap IPTV services.

However, the projected performance in Africa has been way off the mark for Showmax.

In the three years leading up to the Canal+ takeover of MultiChoice, the video streaming platform accumulated losses of approximately $428.9 million. In the 2025 earnings, trading losses widened by 88% to $297 million, while revenue fell to $48.5 million, significantly missing the $1 billion annual revenue target.

Despite moves to revamp by investing heavily in new technology (from NBCUniversal’s Peacock) in early 2024, the platform failed to reach the expected profitability. 

The platform soon faced issues with capturing the affordability style of an African population who shifted attention to YouTube, Netflix and short video platforms such as TikTok

The final decision to take the platform off air came after the Canal+ acquisition in September 2025. The French company determined that Showmax’s financial performance was not acceptable and prioritised profitability.

Also, the platform was reported to be accumulating a high operating cost, leading to its negative margins compared to revenue.

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