The French media giant Canal+ has decided to discontinue the African streaming platform Showmax, citing persistent financial losses and mounting competition from global streaming leaders.
According to reporting by the Accra Street Journal (ASJ), the decision comes despite Canal+ completing a $3 billion acquisition of MultiChoice Group, the South African media company that originally developed Showmax as its flagship streaming platform for the African market.
The closure highlights the growing difficulty regional streaming platforms face when competing against global giants such as Netflix and Amazon, which continue to dominate international digital entertainment.
📢 GET A DETAILED ARTICLES + JOBS
Join ASJ's WhatsApp Channel and never miss a post or opportunity.
A $3 Billion Deal That Could Not Save Showmax
Showmax was launched by MultiChoice as part of a strategy to compete directly in the fast-growing online video streaming market.
However, the Accra Street Journal reports that the platform struggled to maintain profitability even after Canal+ moved to acquire MultiChoice in a deal valued at approximately $3 billion.
While the acquisition was initially expected to strengthen Canal+’s position in Africa’s digital entertainment sector, the financial performance of Showmax continued to deteriorate.
By 2025, the streaming service recorded a trading loss of $308 million, a decline that executives described as unsustainable.
Speaking about the platform’s performance, Canal+ chief executive Maxime Saada reportedly acknowledged that the venture had not achieved commercial success.
According to the Accra Street Journal, the decision to shut down Showmax reflects a strategic pivot rather than a withdrawal from the African market.
Showmax’s Rise and Decline in Africa’s Streaming Market
Ironically, Showmax once appeared poised to challenge global streaming platforms on the continent.
The Accra Street Journal notes that in 2023, Showmax briefly overtook Netflix in African market share.
At the time:
-
Showmax controlled about 40% of the streaming market
-
Netflix held around 35%
However, this lead proved temporary.
Despite a 44% increase in paying subscribers, the company’s financial losses deepened as operational costs rose sharply and competition intensified.
Over time, Netflix regained its dominant position in the region’s streaming ecosystem.
MultiChoice Struggles Add to the Pressure
The struggles of Showmax also coincided with significant challenges faced by its parent company.
According to the Accra Street Journal, MultiChoice Group has lost 2.8 million linear television subscribers over the past two years, reducing its total customer base to about 14.5 million.
Several factors contributed to the decline:
-
Increased competition from global streaming services
-
Growing piracy of digital content
The company described the operating environment as a “severely strained consumer environment.”
These pressures made it increasingly difficult for Showmax to maintain a sustainable business model.
Canal+ Plans a New Streaming Strategy for Africa
While Showmax is being discontinued, Canal+ is not abandoning its digital strategy for the continent.
According to the Accra Street Journal, the company is preparing to launch a unified streaming platform across Africa, built around the existing Canal+ mobile application.
The new platform is expected to integrate content from multiple partners, including:
-
**Apple’s Apple TV+
-
**Warner Bros. Discovery’s HBO Max
The goal is to create a single digital hub where users can access multiple streaming libraries without switching between different apps.
Canal+ Chief Financial Officer Amandine Ferre said the platform is designed around simplicity and user convenience.
According to the Accra Street Journal, the new approach reflects a broader industry trend toward aggregated streaming ecosystems, where multiple content providers operate through a single platform.
Canal+ Eyes Cost Savings and Market Expansion
The company also expects major financial efficiencies from its MultiChoice acquisition.
Canal+ has projected annual cost synergies of about $479 million by 2030, largely through operational integration and consolidation of services.
The Accra Street Journal reports that the company’s strategy includes delisting MultiChoice from the Johannesburg Stock Exchange before pursuing a secondary inward listing of Canal+ shares in South Africa.
This move would allow African investors to directly own shares in the expanded global media group.
The plan signals Canal+’s long-term commitment to the African market even as it restructures its digital entertainment portfolio.
Africa’s Streaming Market Remains Highly Competitive
The shutdown of Showmax underscores the intense competition shaping Africa’s streaming industry.
Global players like Netflix and Amazon continue to expand aggressively, investing heavily in content, technology infrastructure, and regional productions.
Meanwhile, local and regional platforms face significant challenges including:
-
High infrastructure costs
-
Limited consumer purchasing power
-
Currency instability
-
Piracy
Despite these obstacles, the Accra Street Journal notes that Africa’s digital entertainment market remains one of the fastest-growing globally due to the continent’s rapidly expanding internet penetration and young population.
A Strategic Reset Rather Than an Exit
The discontinuation of Showmax represents a strategic reset for Canal+ rather than a retreat from Africa.
By consolidating services and focusing on a unified streaming ecosystem, the company aims to build a more sustainable digital entertainment platform capable of competing in an increasingly globalised media market.
As the Accra Street Journal reports, the coming years will determine whether Canal+’s new approach can succeed where Showmax ultimately failed.
Source: Accra Street Journal
Last Updated on March 9, 2026 by Samuel Kwame Boadu
Disclaimer: Some content on Accra Street Journal may be aggregated, summarized, or edited from third-party sources for informational purposes. Images and media are used under fair use or royalty-free licenses. Accra Street Journal is a subsidiary of SamBoad Publishing Hub under SamBoad Business Group Ltd, registered in Ghana since 2014.
For concerns or inquiries, please visit our Privacy Policy or Contact Page.
Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
