Canal+ Group says it M&A strategy is still active, though the French pay-TV provider has admitted its acquisition of Multichoice is going slower than expected.
The company has published its full-year preliminary results for the year ended 31 December 2024, the first release since its debut on the London Stock Exchange, following its spin-off from Vivendi.
Canal currently boasts 26.9 million subscribers in 52 countries across three continents. Subscribers increased by 0.4% increase compared to 2023, despite a 3.4% decrease in the wholesale subscriber base.
Multichoice would add another 9 million subscribers, though the mandatory offer for the South African platform has been extended to 8 October 2025 from 8 April, though both companies are hoping the transaction can be completed sooner.
Canal has reported revenues of €6.45 billion, a 3.6% increase on 2023, with EBITA at €503 million.
“I am thrilled to confirm that CANAL+ is now firmly on track to reach its ambition to become a global media and entertainment leader with 50 to 100 million subscribers, said Maxime Saada, Chief Executive Officer of Canal+.
While Studiocanal has enjoyed Box Office success with Paddington in Peru and Bridget Jones: Mad About the Boy, Studiocanal’s first-ever global TV series Paris Has Fallen, based on the successful Has Fallen movie franchise, was a success in all Canal+ Pay-TV territories, as well as on Amazon Prime in the UK and Hulu in the United States.
Canal+ has signed multi-year and multi-territory partnerships with LG, Philips, Vidaa and most recently Samsung Smart TVs, meaning that its reach now extends to the leading connected TV players.
