Showmax shuts down after a decade, swallowed by Canal+ cost-cutting

Key facts

• Showmax launched on August 19, 2015, with 11,000 hours of content and a flat R99/month fee.
• MultiChoice sold a 30% stake to Comcast's NBCUniversal in April 2023, leading to a Peacock-based relaunch in February 2024.
• Showmax's trading losses escalated from $71 million in 2023 to $293 million in 2025, while revenue fell from $61 million to $45 million.
• Tech licensing commitments to NBCUniversal's Peacock platform reached $408 million by the end of the 2024 financial year.
• Canal+ completed its acquisition of MultiChoice in September 2025 and announced Showmax's closure in March 2026.
• The app will shut down on April 30, 2026; content moves to DStv Stream with a dedicated Showmax section.
• Qualifying customers receive a one-year trial of DStv Stream Compact at the promotional rate of $5.92 per month.
• Showmax was the first streaming service in Africa to offer mobile downloads for offline viewing and adaptive bitrates for slow connections.

A homegrown challenger fades to black

Showmax, the Johannesburg-born streaming service that once carried Naspers's ambition to beat Netflix in its own market, will shut down on April 30, 2026. Parent company MultiChoice, now under French media conglomerate Groupe Canal+, confirmed the closure in early March after a comprehensive review of its streaming portfolio. The decision ends a decade-long experiment that began with 11,000 hours of content and a flat R99 monthly fee. Maxime Saada, CEO of Groupe Canal+, labelled the platform an 'expensive failure' in early 2026, noting its lack of commercial success. 'This was a severely loss-making venture from which we saw no viable recovery,' Saada said. Canal+ swiftly reached an agreement with Comcast to expedite the closure after taking control of MultiChoice in September 2025.

From Netflix pre-emption to Peacock pivot

Showmax launched on August 19, 2015, five months before Netflix arrived in South Africa. It was deliberately incubated outside MultiChoice under former DStv Digital Media chief John Kotsaftis to foster startup-style innovation. 'Our local content selection is an order of magnitude bigger than anything Netflix has done elsewhere in the world,' Kotsaftis told TechCentral on launch day. Kotsaftis left for Fox Networks in 2018, and the standalone unit was folded back into MultiChoice. The product began chasing sport with Showmax Pro in 2020, bundling Premier League, La Liga, Serie A and PSL games at R449/month. The base tier remained at R99. In March 2023, MultiChoice handed 30% of Showmax to Comcast's NBCUniversal and Sky in exchange for Peacock's streaming technology and a content pipeline from HBO, Warner Bros, Sony and others. The platform was rebuilt from the ground up and relaunched in February 2024.

Unsustainable losses and $408 million in tech commitments

Initially, MultiChoice expected Showmax's trading losses to taper off in 2025. Instead, losses escalated from $71 million in 2023 to $155 million in 2024 and $293 million in 2025. Revenue fell from $61 million to $45 million over the same period. The company's leadership attributed the downturn to overly optimistic forecasts, claiming the decline was somewhat anticipated and temporary. However, significant multi-year tech licensing commitments with NBCUniversal for its Peacock platform added financial strain, amounting to $408 million by the end of the 2024 financial year. Although these obligations had not yet been recorded as liabilities, MultiChoice remained contractually bound to fulfil them. By March 2025, while some obligations were addressed, the financial burden still loomed large relative to Showmax's revenue.

Local content and technical innovation that set a standard

Showmax was built for South Africa's unique technical and cultural realities. It became the first streaming service in Africa to offer mobile downloads for offline viewing, a feature that saved users from the high cost of mobile data. The platform also introduced adaptive bitrates and advanced video compression to allow streaming on slower internet connections, and it made local payments simple through DStv bill integration, mobile carriers and retail partnerships. Content was available in multiple local languages, including Afrikaans, isiZulu and isiXhosa, filling a gap that international platforms ignored. Series like 'The Wife', 'Adulting' and 'Youngins' resonated deeply with South African audiences, more than imported Hollywood shows ever could. By leveraging DStv channels such as Mzansi Magic and kykNET, the platform offered popular soaps and reality shows immediately after they aired on television.

Subscribers react with frustration and nostalgia

The announcement sparked a wave of reactions on social media. Publicist and content creator Thulane 'Toolz' Hadebe asked, 'Is this an April Fool's joke?' using his signature sarcastic style. Influencer and club host Eva Modika lamented, 'Oh no… And DStv app is slow and dodgy, y'all forcing us now!' Sqnobile Makhathini said, 'Does DStv have a R50 subscription? If not, count me out.' Colette Bradford commented, 'Wie Word 'n Milijoener was on Showmax, but when I search on DStv streaming, it's not there. It's probably the same for many other things I'd like to watch. So, we're paying the same but getting less.' A Showmax social media manager responded to Bradford, saying that some Showmax Originals have moved to DStv Stream, 'plus all the extras you've been wanting.'

What comes next for subscribers and local content

Current Showmax users can maintain their subscription at the same $5.92 monthly rate for DStv Stream Compact for one year. Starting on April 30, qualifying customers will receive a trial of DStv Stream Compact, with the promotional $5.92-per-month rate commencing on May 1 and valid for a year, as long as their accounts are current. The DStv Stream platform will include a dedicated Showmax section. MultiChoice's decision to close Showmax follows a thorough review of its streaming services, with the company citing significant annual losses as unsustainable. The closure marks the end of a service once seen as the South African pay-TV giant's response to Netflix. Canal+'s 2025 results branded the platform an 'expensive failure,' and CEO David Mignot told TechCentral in February that the platform 'can't continue.' 'Financially speaking, business-wise speaking, the thing is not flying,' he said.

The idea that nearly worked

What is being lost is the idea. Showmax in 2015 was the first serious attempt by a South African company to build a streaming service that could stand on its own against the global giants – not as a regional reseller, not as a niche play, but as a homegrown product that understood its market better than any imported alternative could. It nearly worked. Then it tried to become something bigger, raised the stakes, swung wildly – and lost. The discontinuation of Showmax signals a significant shift in the South African streaming landscape, leaving fans to ponder the fate of local productions and the future of digital content. The platform built a clear identity as the home of local storytelling, focusing on high-production African content that spoke to South Africans' experiences. 'Adulting' offered a new perspective on modern masculinity, while shows like 'The Real Housewives of Durban' adapted a global franchise to showcase Mzansi wealth and drama. That identity now moves to DStv Stream, but the standalone ambition is gone.

The bottom line

• Showmax will shut down on April 30, 2026, with content migrating to DStv Stream.
• The platform incurred escalating losses from $71 million in 2023 to $293 million in 2025.
• MultiChoice's $408 million tech licensing commitment to NBCUniversal's Peacock proved unsustainable.
• Canal+ CEO Maxime Saada called Showmax an 'expensive failure' with no viable recovery.
• Qualifying subscribers receive a one-year DStv Stream Compact trial at $5.92 per month.
• Showmax's legacy includes pioneering offline downloads, adaptive streaming, and local-language content in Africa.