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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.”
The company also highlighted a strong six months for Studiocanal, whose film division enjoyed theatrical hits across several territories, notably “Guru” and “Children of the Resistance” in France; “Pressure” in the U.S.; “Extrawurst” and “Woodwalkers 2” in Germany; and “Housemaid” in Australia.
Looking ahead at the second half of the year, Studiocanal is also poised to have a robust presence in the fall festival circuit, including at Venice which it supports and where it will present on opening night Danny Boyle’s “Ink,” starring Jack O’Connell as Larry Lamb and Guy Pearce as Rupert Murdoch; at the London Film Festival with Simon Stone’s “Elsinore,” starring Andrew Lincoln and Olivia Colman, also on opening night; and Jonathan Schey’s “Everybody Wants to **** Me” which is set to premiere at Toronto.
The company also scored the biggest deal of the Cannes film market, boarding Garth Davis’s hotly anticipated “The Midnight Library,” an adaptation of Matt Haig’s bestselling novel starring Florence Pugh. Upcoming projects include “Paddington 4;” Zack Snyder’s remake of “Escape From New York;” “The Road Home;” and an adaptation of Freida McFadden’s bestseller “The Divorce.”
Separately, Canal+ has also confirmed it will launch in Belgium next year after securing exclusive rights to UEFA men’s club competitions.
Saada also highlighted Canal+ Group’s five-year deal with French cinema organizations unveiled on Monday. The agreement will see the pay-TV group invest nearly $1.1 billion in French and European films between 2028 and 2032. As such, it also preserves the banner’s place in France’s media chronology, allowing it to continue to offer subscribers films six months after their theatrical release. The CEO said the landmark deal “reaffirms Canal+’s unique role as French cinema’s number one partner.”
