CANAL+ Group says MultiChoice is beginning to recover after years of subscriber losses and mounting pressure from streaming platforms, following its takeover of the African pay-TV giant in September 2025.
In its latest half-year results, the French media company reported early signs of a turnaround, with subscriber acquisitions across MultiChoice markets rising by 40% year-on-year and adjusted operating profit jumping 160% to €143 million.
South Africa recorded its strongest month for new subscriber growth in a decade in June 2026, a milestone CANAL+ attributes to reduced decoder prices, expanded sales channels and early gains from the merger.
CEO Maxime Saada said the results reflect steady progress in repositioning the business, noting that the company has grown its African subscriber base by 7% while lowering entry costs to attract new users.
A key part of the strategy has been cutting decoder prices by up to 40%, removing one of the biggest barriers to entry for new customers. The company has also increased its distribution network by over 15% since March, reinforcing its reliance on physical retail channels across African markets.
Beyond pricing, CANAL+ is focusing heavily on premium sports content to retain subscribers. The company has secured long-term rights to major competitions, including South Africa’s Premier Soccer League and upcoming Rugby World Cups, strengthening DStv’s position against streaming platforms.
The results also signal a shift in MultiChoice’s streaming strategy. CANAL+ confirmed that Showmax was discontinued as a standalone business in April 2026, indicating a move away from heavy investment in streaming toward a more profit-driven model.
So far, the integration is delivering financial gains, with about half of CANAL+’s €250 million annual synergy target already achieved. MultiChoice contributed €120 million in profit improvements during the first half alone.
Despite the strong performance, the company cautioned that some gains were influenced by seasonal factors, stressing that the real challenge will be sustaining growth and profitability in the coming quarters.
Source: TechCabal
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