Canal+ to Shut Down Showmax Streaming Platform Soon

Canal+, the new owner of Multichoice, has announced plans to discontinue the Showmax streaming platform as part of a broader cost-cutting initiative. This decision comes after a review of the company’s streaming operations, with Canal+ seeking to reduce expenses and streamline its business.

Multichoice confirmed that the shutdown will occur soon, although no specific timeline was provided. The decision was made by the Showmax board to maintain financial discipline and optimize investments in a highly competitive global streaming environment.

Maxim Saada, the CEO of Canal+, previously described Showmax as a significant financial burden during an investor call. Showmax, launched in August 2015, has struggled to meet aggressive subscriber growth targets, leading to a widening trade loss of 88% and a revenue decline reported in September of the previous year.

Despite the shutdown, Canal+ assured that it would not affect the employment unit as part of the agreement, which prohibits staff reductions for three years.