Canal+ Group, the parent company of “Paddington” producer Studiocanal, saw its revenue climb 40% to €4.3 billion ($4.8 billion) for the first half of 2026, boosted by the acquisition of MultiChoice which has significantly expanded the pay-TV group’s footprint across Africa.
The group, which is listed at the London stock exchange, said it had already realized $136 million in profit-and-loss synergies from the MultiChoice acquisition and remains on track to achieve its $284 million synergy target by the end of 2026. The banner’s EBIT rose 68% to $492 million, representing a margin of 10.1%, while its cash flow from operations reached €636 million.
The company said its turnaround plan for MultiChoice is already gathering pace thanks to investments in sports and entertainment. Subscriptions in MultiChoice territories rose 40% during the first half, while South Africa recorded its strongest month for new subscribers in a decade in June, driven by FIFA World Cup programming and the launch of the Novelas+ channels.
“Our strong first-half results reflect our strategic progress,” said Maxime Saada, Canal+ CEO, who pointed the company’s increased scale following the acquisition of MultiChoice.
Saada said Canal+ Group grew its combined subscriber base by 7% in the first half of 2026 and had its highest new subscriber uptake in a decade in June in South Africa. The banner also recently secured rights to South Africa’s Premier Soccer League, as well as the upcoming men’s and women’s Rugby World Cups; while ramping up investment in African content, with a slate that includes “The Road Home,” which has been touted as its first major South African film production; alongside projects including “Heist of Benin,” described as “Ocean’s Eleven with an African twist;” and an adaptation of Chimamanda Ngozi Adichie’s acclaimed novel “Americanah.”
