The recent decision by Canal+ to pull the plug on Showmax serves as a post-mortem for the streaming market in Nigeria. Despite generating $204 million in revenue between 2023 and 2025, the platform racked up operating losses exceeding $523 million. This exit isn’t an isolated incident. It is the latest tremor in a market that has proven resistant to the premium subscription model.
The numbers tell a story of ambition meeting an immovable economic wall. Since 2015, global giants like Netflix, Amazon Prime Video, and Showmax—alongside local pi
