DSE News Network
News on the DSE News Network this week is that: MultiChoice, now under French media giant Canal+, announced on March 5, 2026, that Showmax, its flagship streaming service, will be discontinued “in the near future.”
The decision follows unsustainable annual losses that reached R4.9 billion in the financial year ending March 2025—an 88% increase from the prior year.
Despite subscriber growth and a relaunch supported by NBCUniversal and Comcast technology, revenue remained around R750–800 million, far below the ambitious $1 billion target. Canal+ cited the need for “financial discipline and investment optimisation” in a fiercely competitive global streaming market.
Launched in 2015 as Africa’s answer to Netflix, Showmax operated in 44 countries and was celebrated for its focus on local content. South African dramas like The Wife, Adulting, and Youngins, reality hits such as
The Real Housewives of Durban, Mzansi Magic and kykNET soaps, and Nollywood favourites formed the core of its library. International titles from HBO and Universal complemented this content, while mobile-friendly sports options, including Premier League highlights, made it accessible to users on lower-data plans.
At its peak, Showmax reportedly outperformed Netflix in subscriber numbers across sub-Saharan Africa, positioning itself as a distinctly African streaming option.
Impact in South Africa
South African subscribers, who comprised the largest share of Showmax’s user base, are among the most affected. For many households in Johannesburg, Cape Town, Durban, and beyond, Showmax was more than a streaming platform; it was a cultural mirror. Affordable monthly plans, often under R100, delivered high-quality local productions in English, Afrikaans, isiZulu, and other languages, fostering national pride and providing a platform for local actors, writers, and producers. With Showmax shutting down, the original content pipeline is expected to dry up, raising concerns about reduced opportunities for creative talent.
Subscribers received emails reassuring them that services would continue “as usual” for the time being, with no immediate cut-off.
However, the uncertainty has prompted many to consider alternatives. Netflix and Disney+ offer partial overlaps in content but are pricier and lack the depth of South African-specific series.
Some content may migrate to MultiChoice’s DStv platform, but users will lose the flexibility of on-demand streaming. The closure highlights broader challenges in South Africa’s streaming industry, including rising content costs, inflation, and intense competition from global platforms.
Broadband penetration, though higher than in many African countries, still leaves gaps in rural areas, compounding the challenge.
Impact in Zimbabwe
In Zimbabwe, where Showmax had tailored pricing and mobile-first features, the closure is particularly acute. Harare and Bulawayo residents who relied on affordable access to Nollywood hits, South African soaps, and occasional Premier League action now face the loss of a key entertainment lifeline amid ongoing economic difficulties.
Hyperinflation and currency volatility make international streaming services like Netflix prohibitively expensive, while Showmax’s lower-cost entry points provided crucial accessibility.
Frequent power shortages, which limit streaming opportunities, exacerbate the issue. Families who once gathered around shared devices for popular shows like Youngins must now find alternatives, and local telecom bundles that included Showmax perks may disappear, forcing subscribers onto more expensive or data-heavy global platforms.
While Showmax was not as dominant in Zimbabwe as in South Africa, its African-focused catalogue offered a rare window into regional storytelling, and its absence threatens to widen the entertainment gap for lower-income households.
Africa-Wide Implications
Across the continent, from Nigeria and Kenya to Ghana, Uganda, Lesotho, and Namibia, Showmax’s closure leaves a substantial void. It was Africa’s boldest attempt at digital entertainment sovereignty, commissioning local talent, producing content in multiple African languages, and challenging Hollywood-centric platforms.
Losing it could slow the momentum of the African film and television boom, with fewer commissioning opportunities for creators and fewer culturally resonant titles for viewers.
Global streamers have expanded aggressively in Africa, but their libraries often prioritise international content over original African productions. Subscriber migration may raise costs for audiences already navigating expensive data, low broadband penetration, and unreliable electricity.
Showmax’s absence underscores the difficulty of sustaining a homegrown streaming platform in Africa’s complex economic and technological environment.
Canal+ and the Future
Canal+ has indicated plans for a new “large-scale streaming platform” consolidating offerings from MultiChoice and DStv. While details remain limited, executives promise continued investment in premium African content and technological upgrades. No staff retrenchments are expected at Showmax; employees will be offered transition support.
For now, subscribers can continue streaming without disruption. Refunds, account migrations, and content transfers will be clarified in the coming weeks. Many users are exploring bundles combining DStv with Netflix or Prime Video, while others await the Canal+ successor with cautious optimism.
Conclusion
The closure of Showmax highlights a stark reality: streaming economics in Africa remain challenging despite strong demand. While it marks the end of a significant chapter in African digital entertainment, Showmax’s legacy of local content creation, cultural representation, and opportunities for African talent could endure if Canal+ delivers on its promises of affordability and relevance.
For millions of viewers, however, the immediate feeling is one of loss—a reminder that even ambitious African innovations can falter under global pressures.
