MultiChoice is differentiated by its production of over 4,500 hours of local content in 10 studios across Africa. The company operates DStv (major satellite television service in Sub-Saharan Africa), GOtv (terrestrial TV service in 9 countries), and Showmax (subscription video on-demand streaming service). To maintain local involvement after the acquisition, Canal+ will secure a secondary inward listing on the JSE to ensure access for local investors.
Cyborg Score Rationale
MultiChoice continues to build scale with 20.1 million active subscribers, putting it in the league of major global broadcasters. However, the company faces challenges with declining revenue and recent operational headwinds. The acquisition by Canal+ provides strategic backing and global reach, positioning the company for long-term growth in African media.
Top Insights
Canal+ acquired the remaining shares of MultiChoice in October 2025, marking its largest-ever transaction.
Production of over 4,500 hours of local content annually across 10 studios gives competitive moat in African content landscape.
Revenue declined 5.37% in 2023 to 55.97 billion ZAR, reflecting market and macro pressures.
20.1 million active subscribers positions the company as major global broadcaster.
Named Competitors
Netflix — Global streaming entertainment platform
Amazon Prime Video — Global streaming video service
DSTV Stream — Mobile streaming service for television content
Recent Developments
(October 2025) Canal+ completed acquisition of remaining MultiChoice shares in groundbreaking deal
(December 2025) MultiChoice shares delisted from JSE following Canal+ acquisition completion
(2024-2025) Company navigated revenue pressures with focus on Rest of Africa expansion
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