Showmax CEO Marc Jury Resigns Amid MultiChoice Financial Struggles

Marc Jury, the CEO of Showmax and MultiChoice, has announced his resignation. His duties will officially end in March 2025, with Byron du Plessis taking over on April 1, 2025. MultiChoice CEO Calvo Mawela confirmed the news in a staff notice, praising Jury for his leadership and contributions.

Jury’s Legacy at MultiChoice

Jury leaves after nearly ten years with the group, having led significant projects like the Netball World Cup’s all-female production crew and the Showmax 2.0 launch. Before this, he served as CEO of SuperSport, playing a key role in expanding DStv Stream. Mawela noted Jury’s impact on the company, expressing gratitude for his service.

MultiChoice Faces Tough Financial Times

Jury’s departure coincides with MultiChoice’s financial struggles. The company expects a loss of R1.84 billion for the first half of the 2025 financial year. Challenges include macroeconomic pressures, foreign exchange volatility, and reduced consumer activity, especially in Nigeria and Zambia.

To address these issues, MultiChoice is targeting R2 billion in cost savings by March 2025. The group is also implementing price adjustments to cope with rising costs.

DStv Subscriber Base Shrinks

MultiChoice’s troubles are further evidenced by declining DStv subscribers. Over 400,000 South Africans canceled their subscriptions in 2023/24. The total subscriber base dropped to 7.6 million, down from 8 million the previous year. South Africa remains vital, contributing nearly half of MultiChoice’s active subscribers and 60% of its revenue.

The Road Ahead

As Byron du Plessis prepares to take over, MultiChoice faces a crucial period. The company must stabilize its finances while navigating market challenges. Jury’s resignation marks a turning point for Showmax and MultiChoice, requiring strong leadership and strategic decisions.