For years, MultiChoice has been the go-to avenue and leading cable network service provider across Africa.
Households relied on MultiChoice through its satellite service DStv to watch football, news, movies and popular soap operas. However, the rise of global streaming platforms such as Netflix, Prime Video and Hulu is reshaping the entertainment industry.
Streaming platforms allow viewers to watch content at any time on mobile phones, laptops or smart TVs, unlike traditional television schedules.
MultiChoice experienced strong growth from 2010 to 2023 but has faced severe challenges since then.This is due to several macroeconomic factors, including load shedding, the devaluation of the Naira, heightened inflation, and the difficult transition to OTT and the “expensive failure” of Showmax.Prices, reports show, are also a major factor behind the shift. A full DStv subscription can cost about N$700 per month, while many streaming platforms charge less than N$200 depending on the package if there is reliable internet access.
However, MultiChoice Namibia has downplayed its purported financial troubles.
This is despite the recent decision to discontinue the current version of Showmax.
The move, MultiChoice says, forms part of a broader digital strategy as the television industry shifts rapidly toward online streaming.
“The company is not in trouble. The discontinuation of Showmax follows a comprehensive review of the streaming service. We are focusing our investment on strengthening our broader digital strategy,” said MultiChoice Namibia managing director Roger Gertze.
Shift
The announcement comes at a time when the way Namibians watch television is changing fast. More viewers are moving away from traditional pay-TV to online streaming platforms where movies, sports and series can be watched on demand at lower prices.
In response, MultiChoice, now part of the French media giant Canal+, said the current version of Showmax will be discontinued following a review of its streaming operations.
Gertze said the decision was taken after the service recorded significant financial losses.
“The decision to phase out Showmax reflects our focus on building a sustainable and competitive business for the long term in an increasingly demanding global streaming environment,” he said.
The company said it will now focus more resources on digital services such as DStv Stream, which allows subscribers to watch television online without using a satellite decoder. The decision also highlights the growing dominance of international streaming companies with massive financial resources. Netflix, the world’s largest and leading streaming service provider, generates tens of billions of dollars in annual revenue and has hundreds of millions of subscribers worldwide.
By comparison, the entire MultiChoice Group, whose main product is DStv, earns only a fraction of that amount in annual revenue.
This financial gap shows the strong competition local broadcasters face as global streaming giants expand into African markets.
African platform
Despite the challenges, Showmax has been an important platform for African productions, including content from Namibia.
Through agreements with MultiChoice Namibia, Namibian films and television productions were aired on the platform alongside South African dramas and Nigerian shows. The service helped give local producers access to a wider African audience and created new opportunities for Namibian storytelling. MultiChoice said support for African creators will continue despite the changes.
“Supporting African storytelling remains central to the strategy of both MultiChoice and Canal+. Our commitment to working with local creators across the continent, including Namibia, remains unchanged,” the company said.
The growing popularity of streaming platforms reflects changing viewing habits, particularly among younger audiences.
Unlike traditional television schedules, streaming platforms allow viewers to watch programmes whenever they want.
Economic squeeze
At the same time, economic pressure and rising living costs are forcing many households to look for cheaper entertainment options.
While the industry faces growing competition from global streaming services, MultiChoice said digital streaming remains part of its future.
“Our goal is to continue delivering quality content across our platforms,” Gertze said.
Filmmaker Fillemon Hafeni, known as Mabuzza, said when he heard the news about Showmax being discontinued, he thought maybe it was a long-term contract between MultiChoice and Showmax to help African countries showcase their talent and invest in raw talent.
He explained that the decision will affect most individuals who rely on it for survival.
“Some of the actors on Showmax were feeding their families from the work they got. Now it’s taking bread out of their mouths. I feel bad for them, but I hope things will change,” he said.
He urged the government and local broadcasters to step in to support Namibian content.
“Hopefully the President [Netumbo Nandi-Ndaitwah] and relevant ministries can help. This is also an opportunity for NBC and One Africa to work with the ministry of youth, the film commission, and corporates to support local filmmakers,” he said.
He emphasised the need for Namibians to watch Namibian productions.
“We need to start creating our own content and put it on NBC and One Africa. People should start consuming Namibian films instead of foreign shows. Namibian films are well-made, beautiful productions. We just need the budget to compete with South Africa and Nigeria. We are in the top five in Africa; we just need support to shine,” he said.
Mabuzza added that many viewers are moving away from DSTV because they are going to YouTube and TikTok because they want to see real, raw content happening on the ground. DSTV repeats content and doesn’t give viewers what they want. If NBC invested in local shows, like weekly series, it would attract many viewers.
Context
MultiChoice continues to lose customers, with its new owner, Canal+, looking to change the embattled broadcaster’s path.
Last year, Canal+ finalised its takeover of MultiChoice, the owner of DStv, in a deal worth over N$50 billion. The deal saw MultiChoice delisted from the JSE, and it is now reported in Canal+’s results.
Canal+ said that MultiChoice addressed the situation through short-term measures, namely reductions in subscriber-acquisition subsidies and price increases.
However, this hurt its subscriber base, which worsened the original profitability issues.Thus, MultiChoice saw a decline in its total subscriber base from 14.9 million in 2024 to 14.4 million in 2025.
This led to a 6% decline in MultiChoice’s revenues in 2025.
Canal+ said that cost-cutting initiatives partially mitigated the impact of the decrease in revenues.Cash flow from operating activities increased respectively from €138 million (N$2.6 billion) in 2024 to €226 million (N$4.28 billion) in 2025.
Free cash flow (before exceptional items) from -€56 million (-N$1.06 billion) in 2024 to -€42 million (-N$796 million) in 2025, benefiting from various deferred payments.
“We have completed the acquisition of MultiChoice, and we have identified run-rate cost savings from synergies of €400m from 2030 onwards,” said CEO Maxime Saada.
Looking ahead to 2026, Canal+ said that MultiChoice is facing a €140 million (N$2.6 billion) negative impact from subscriber base inertia, driving declining revenues.
To restart growth, Canal+ will launch a growth boost plan, investing around €100 million (N$1.8 billion).
Due to recent initiatives, from the discontinuation of Showmax, Canal+ said that the delivery of cost synergies accelerated and is expected to reach €250m in 2026.
-Additional reporting by BusinessTech