Vivendi chairman Vincent Bolloré believes the third quarter of 2017 will see a turnaround in the fortunes of his beleaguered pay-TV unit.
Bolloré told a shareholder meeting Tuesday that “the results would go up significantly from the third quarter”.
Last year, Canal+ France lost €399 million, while erosion saw 492,000 subscribers depart over the year to reduce levels to 5.25 million subscribers.
In March the number of new subscribers signing up to the pay-TV operator drew level with those leaving for rival service. However, it will be in October when the results of the ongoing partnerships with Free and Orange become apparent. The catch is that the wholesale agreements with the two telcos do not draw is as much revenue as direct subscriptions and are cross subsidised by the operators.
Bolloré admits the €19.90 fee is “really cheap” and that Canal’s offer has to become competitive once more.
