MultiChoice, the pan-African broadcaster that reported $131m in revenue in 2022, has invested R500 million in Showmax, its streaming service, ahead of a late-2024 relaunch. Showmax 2.0 will launch on a specialised technology platform on the US streaming service, Peacock, according to the company’s filings.
It also incorporates the higher investment in Showmax, primarily related to dual platform costs that will normalise once customers have migrated from the current platform to the new Peacock platform.
MultiChoice says the company will pay R247 million to license the use of that technology for seven years after Showmax 2.0 launch.