MultiChoice retires Showmax after comprehensive review
The decision to discontinue Showmax services will not involve any retrenchments. The Group will be engaging and supporting employees through various transition options.
MultiChoice, part of CANAL+ SA (LSE: CAN, the “Company” or the “Group”), the global media and entertainment company, today announces the forthcoming discontinuation of the Showmax service, following a comprehensive review of its streaming activities.
This decision was made by the Showmax Board of Directors and reflects the continued focus of MultiChoice, a CANAL+ Company, on financial discipline and investment optimization, in an increasingly competitive and capital – intensive global streaming environment.
The substantial annual losses experienced by the Showmax business have proved unsustainable. The decision to phase out Showmax reflects our focus on building a sustainable, competitive business for the long term in an increasingly demanding global streaming environment.
The decision to discontinue Showmax services will not involve any retrenchments. The Group will be engaging and supporting employees through various transition options. This evolution is also consistent with the ambition of MultiChoice, a CANAL+ Company, to deploy its in -house large – scale streaming platform capable of meeting the expectations of African and international consumers.
CANAL+ will continue to invest in premium content for MultiChoice subscribers, technological innovation and strategic partnerships to consolidate its leadership in the African entertainment market.
Further details regarding our expanded content offering and platform upgrades will be shared in due course. We want to reassure our Showmax subscribers that they are our priority as we evolve our services to deliver a superior streaming experience.