Canal+ Sets Sights on Africa’s Streaming Growth by Seeking Complete Ownership of Showmax

Canal+ SA is reportedly exploring the possibility of purchasing

Corp.'s 30% ownership in Showmax, Africa’s largest streaming service, as part of its wider plan to strengthen its foothold in the continent’s fast-expanding entertainment sector, according to . The French media conglomerate, which already holds a controlling interest in MultiChoice Group Ltd.—the parent company of Showmax—is working with advisers to assess the acquisition, though a final decision has yet to be reached.

This initiative is in line with Canal+’s ongoing strategy to boost its influence in Africa, where demand for region-specific content continues to rise. Operating across 44 African nations, Showmax has earned a strong reputation for its local programming, with nine out of its ten most-watched shows in 2024 produced within the continent. By prioritizing regional content, the platform is well-positioned to tap into Africa’s young, digitally engaged audience, a group expected to fuel sustained growth in online entertainment.

Comcast obtained its share in Showmax in 2023 through its NBCUniversal arm and subsequently merged the service with its Peacock streaming platform. Despite this, the collaboration has struggled to gain significant momentum in Africa, where Showmax contends with major international players such as Netflix Inc. and Amazon.com Inc. Should Canal+ achieve full ownership, it could implement more customized strategies to enhance its competitiveness in the region.

This prospective acquisition coincides with Canal+’s preparations for a secondary listing on South Africa’s primary stock market, following its recent acquisition of MultiChoice. Such a financial move could provide the necessary resources to purchase Comcast’s stake, although the deal remains uncertain. Both Canal+ and Comcast have chosen not to provide statements regarding the situation.

Industry experts point out that Africa’s streaming sector is still developing, with internet connectivity improving and smartphone usage on the rise. Showmax’s focus on local content has struck a chord with viewers, as demonstrated by popular titles like Adulting and The Mommy Club, which showcase African narratives and traditions. Gaining complete control could allow Canal+ to further invest in original productions and infrastructure, reinforcing its leadership in the market.

This potential transaction also mirrors a larger pattern of consolidation in the media industry. Recent deals, including Blackstone Inc.’s $17.1 billion purchase of Hologic, Inc. and SoftBank Group Corp.’s $30 billion funding of OpenAI, highlight the growing interest in major acquisitions for 2025. For Canal+, acquiring the Showmax stake is a calculated move to capitalize on Africa’s burgeoning entertainment landscape, which is expected to expand as digital technology becomes more widespread.