MultiChoice has announced the closure of its Showmax streaming platform across Africa after the service recorded significant financial losses.
The company said the streaming business had become unsustainable after years of heavy spending on content and technology while competing with global streaming giants.
Showmax had been launched as Africa’s homegrown streaming service and was positioned to compete with platforms like Netflix and Amazon Prime.
However, the rapid expansion of the global streaming industry created intense competition and rising production costs.
MultiChoice, which is now partly owned by the French media group Canal+, said the decision to discontinue Showmax was taken after reviewing the platform’s financial performance.
The company explained that the losses recorded annually by the service made it difficult to maintain operations in its current form.
Despite shutting down the streaming platform, the company said it would continue investing in African television content and strengthen its satellite and broadcast services across the continent.
Executives also said the closure would not lead to job losses and that resources would be redirected toward expanding premium content for subscribers.
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