By Okoh Aihe
Venerated playwright, Prof Femi Osofisan, once said in one of his books, there is safety in numbers. This is very true of human beings who would always find solace and security with each other but equally more so in subscription business where the subscriber base remains very vital in terms of returns on investment. A good subscriber base means safety for the pay TV or Mobile phone operator and they covet the figures with reasonable jealousy.
This is where the story of French media giant, Canal+ gets very interesting. After buying Multichoice for $3bn late last year, the champagne time has since gone, and the glasses have returned to the cabinet waiting for another moment of libation, it’s time for Canal+ to face reality, that sobering moment beyond the razzmatazz of deal closure or business success. It is also moment to look at the books dispassionately and make big decisions.
The financial figures presented last week clearly indicate that Canal+ has to do something out of the ordinary in order to return Multichoice to the path of growth and profit. For instance, the organization in 2025 lost 500,000 subscribers which marked a downward spiral, from 14.9million recorded a year earlier to 14.4million in 2025.
Revenue also declined six percent to 2.4bn euros because of market volatility and unpredictability, including the Nigerian market which has negatively impacted Multichoice financial standing.
Little wonder then that one of the earliest decisions was the appointment of Kemi Omotosho as the Chief Executive Officer (CEO) of MultiChoice Nigeria, effective January 2026. Described as an experienced leader with over 20 years in the media and telecommunications industry, the appointment obviously positions Omotosho to lead the team that would implement Canal+’s bold decisions in a market where it would have to fight for the loyalty of subscribers who were leaving the platform in droves. She heads the team that will bring Multichoice back from the brinks.
The good thing about quoted businesses is that secrets are few and earnings are put in the public domain, and so are those big decisions that smaller companies would give subterranean flavour.
One significant decision earlier taken was the shutdown of Showmax which could be described as a niche streaming service in the Multichoice platform. Primed to compete with Netflix and other over-the-top (OTP) service providers, Showmax beyond the glitz, racked up several hundreds of million in dollar losses, about $522m in three years of its 11years existence, became an unsustainable project and was therefore quickly dispensed with as a low hanging fruit needing urgent attention.
The organization said the decision was to enable it ‘’focus on strengthening our overall digital offering and ensuring long-term sustainability in an increasingly competitive streaming environment.”
The action provoked some emotions within the entertainment industry. A former broadcast regulator told this writer that Showmax provided a major opportunity for our creatives to showcase their talent. I could share in the feelings because of the little I know about the industry. Apart from talent ventilation, quite a number of our young people were gainfully employed, doing things that honour the country as well. But it was the end result that became the problem. There was another story.
In the years that HiTv broke the monopoly of Multichoice by acquiring the English Premier League (EPL) exclusively for the Nigerian territory, from 2007 to 2010, this writer was told then by a highly placed Multichoice source that the organization did not lose money as it created more local channels, the African Magic channels to saloon local Nigerian movies which gained traction with viewers and made more money for the pay TV owners. Just by being more creative. Ever since, African Magic channels have remained a major draw on the Multichoice platform and have become irreplaceable.
Unfortunately, Showmax didn’t come with such magic and allure and has suffered the fate of all low hanging fruits: easily dispensable!
However, there is a reason not to despair. During the presentation of the annual report, Canal+ said that content from Showmax, especially the Showmax Originals are being rebranded under M-Net, Africa Magic, and KyKNET.
Wait and see may likely be the game here but there is no doubt that Canal+ can dig deep into its bag of experience to pull out what works for everybody.
I am sure that in buying Multichoice, Canal+ never thought it was inheriting a bucket of ice cream. No. There is more of bitterness and reality check I see before the dawning of a new era. The organization has demonstrated understanding by releasing a growth plan to inject life into Multichoice.
‘’To restart subscriber growth, Canal+ will launch a growth boost plan by investing around 100m euros,’’ it said while acknowledging that Multichoice had faced some financial difficulties in the pay TV market in Africa where it was a lead player.
Plus other key decisions being taken, Canal+ also plans to hire more than 1,000 sales staff across African markets, as part of measures to attract new users, and shifting Multichoice towards a more sales-driven model designed to boost subscriber numbers.
This is good to hear. As it was in the beginning when Multichoice captured the Nigerian market through aggressive marketing, so it seems all over again. But the story is different now. The market which readily opened up then is wisening up now. Market conditions have become more dire, economy has become very unkind leaving so many people in painful poverty, technology is also challenging competence and relevance while a majority have had to make decisions between stomach and entertainment, as the story convolutes into a miasma of uncertainty.
One other shocking development is how MultiChoice has managed to leave behind its subscribers which once supported its business with corporate haughtiness and nonchalance. For years, the parties have grown apart; only MultiChoice didn’t know that the drumbeat has changed and that previous devotees are shifting allegiance elsewhere.
The new job leaves Omotosho with no other choice than to deploy a new charm and creativity to win and woo back customers to a pay TV platform which once dominated the whole of the continent. Her employers will be waiting for the glory days to return through her efforts.
Even if we know little of her and cannot say at the moment whether she will be more accommodating than previous management, AI readily testifies to her competence.
‘’She has over 20 years of experience in leadership roles across Nigeria and Sub-Saharan Africa, including time at Airtel Nigeria. She was previously the Regional Director for Southern Africa and Executive Head of Customer Value Management in Nigeria. She is recognized for managing complex markets, digital migration, and driving customer value,” according to AI.
With power supply at the nadir and daily concerns climbing very high on the scale of worries among Nigerians, there is no doubt that the Nigerian market is challenging but Omotosho will have to crack it open for her employers.
She looks like the kind of fellow who can market ice cream at the World Economic Forum (WEF) in Davos, Switzerland. Besides, the sincerity and enthusiasm of the new owners of MultiChoice may just be the other shove she needs.
However, Omotosho should pay serious attention to local content from Nigerian creatives. It is pure magic, too enchanting to be ignored by viewers anywhere in the continent. Once on a trip to Victoria Falls, Living Stone, Zambia, the question that came form the hotel security guard was to confirm the age of Akin and Pawpaw. Nobody asked me about our President but about those two fellows that have brought incredible moments into our homes.
There is so much originality and depth to our culture which superficial treatment from Nollywood and the entertainment sector has not been able to diminish. They remain a unique selling point to content aggregators. With its vast experience and resources, Canal+ has so much lesson to learn from Nigeria and so much to gain from her culture.
