Shares in Canal+ soared almost 10% in early trade on Tuesday after the broadcaster reported higher first half earnings and signed a landmark deal to invest almost €1m in French films.Canal+ on Tuesday reported total group revenue increased by 40% to €4.29bn in the six months ended June, primarily reflecting the consolidation of MultiChoice Group’s revenue. Excluding MultiChoice, revenue increased by 1.4% on a like-for-like basis.In a separate statement, the group announced it has committed almost R19bn (€980m) over five years to invest in French films in a landmark deal to improve its relationship with creatives in that country. Canal+ began trading on the JSE in June, capping its six-year plan to take over Africa’s largest pay TV provider, MultiChoice. Adjusted earnings before interest and tax (ebit) before exceptional items increased by 68% to €433m, primarily reflecting the consolidation of MultiChoice. Group adjusted EBIT excluding MultiChoice was up 13%, driven by operational improvements and positive seasonality effects, it said.Europe benefitted from improvements in France, including a systematic review of costs in 2025, strong DtoC subscriber acquisition and lower churn, as well as the ongoing shift to OTT in Poland. Africa & Asia’s adjusted ebit was up 9% excluding MultiChoice, driven by revenue growth in Pay-TV and FTTH.The group said MultiChoice’s turnaround is under way. The content offering has been strengthened and the group has secured long-term rights to Premier Soccer League in South Africa, and Men’s 2027 and Women’s 2029 Rugby World Cups across sub-Saharan Africa.Canal+ said it has reduced equipment prices for new subscribers, lowering the barrier to entry, The distribution network has been expanded with the number of points of sale increased by over 15% since March.Subscriber acquisition is up 40% compared to the first half of 2025 in MultiChoice countries, with June recording the best subscriber acquisition month in South Africa in a decade.MultiChoice’s adjusted ebit before exceptional items is up 160% to €143m.“Our strong first-half results reflect our strategic progress. Revenue increased by 40% and adjusted ebit by 68%, reflecting our increased scale following the acquisition of MultiChoice, and we continued to generate very strong free cash flow, benefitting from cash optimisation initiatives and seasonality effects, said Canal+ CEO Maxime Saada.“In Africa, we have grown our combined subscriber base by 7%, and as part of the MultiChoice turnaround plan we reduced entry costs for new subscribers and expanded our sales network. In South Africa, we delivered a standout month in June, with the highest new subscriber uptake in a decade, and we secured long-term rights to the most watched sports competition, the Premier Soccer League,” Saada said.‘Finally, following the acquisition of MultiChoice, our increased scale is starting to deliver the benefits we expected. We have achieved half of our €250m synergies target and remain well on track for the year, and we confirm our full-year and medium-term guidance.“Canal+ expects full-year revenue to be flat and adjusted ebit of €735m.At 9.30am on the JSE, the group’s share price was up 9.93% at R57.01.With Mudiwa Gavaza