CANAL+ is struggling to show round MultiChoice South Africa, the nation’s greatest pay-TV operator, with revenue falling 3% within the 9 months to September as decrease subscription earnings weighed on efficiency.
The France-based media group is counting on revamped DStv packages and stronger content material to reverse the decline. MultiChoice’s revenue fell 3% on a like-for-like foundation to September 2026, according to CANAL+’s latest trading update released on Thursday.
The decline displays underlying efficiency after adjusting for forex actions and modifications within the scope of the enterprise. On a reported foundation, MultiChoice revenue rose 0.4% to €1.81 billion ($2.03 billion), benefiting from a materials constructive forex impact.
CANAL+ stated the like-for-like decline was pushed by decrease subscription revenue in South Africa, partly offset by greater revenue in most different English-speaking African markets.
The decline moderated to 2% within the third quarter, from 3.4% within the first half. CANAL+ attributed a part of the advance to extra beneficial comparisons with the sporting occasions line-up within the earlier yr, quite than solely to the results of its turnaround technique.
The figures come as CANAL+ attempts to simplify MultiChoice’s offerings and strengthen the worth proposition for subscribers following its acquisition of the South African pay-TV operator.
“We are making good progress with the MultiChoice turnaround plan,” CANAL+ chief government officer (CEO) Maxime Saada stated within the buying and selling replace. “In September, a new, simplified value proposition was launched in South Africa, providing subscribers with more content, greater choice, and better value for the same price.”
MultiChoice launched the new packages on September 7, in the direction of the top of the reporting interval, leaving little time for his or her influence to replicate within the nine-month outcomes. CANAL+ stated the rollout would proceed throughout English- and Portuguese-speaking African markets over the approaching months.
The technique comes amid wider modifications to MultiChoice’s leisure enterprise, together with the discontinuation of Showmax, MultiChoice’s subscription video streaming service, in April. CANAL+ has handled Showmax as a discontinued operation in its monetary reporting.
The group has stated it intends to proceed investing in premium content material, expertise and strategic partnerships as it reshapes its leisure providing. However, the most recent buying and selling replace doesn’t present subscriber numbers or common revenue per person. This limits the obtainable proof on whether or not the modifications are bettering buyer retention or spending.
At group stage, CANAL+ reported revenue of €6.41 billion ($7.2 billion) for the 9 months, up 37.5% from the identical interval final yr. The enhance primarily mirrored the consolidation of MultiChoice following the acquisition, quite than equal progress within the underlying enterprise.
On a like-for-like foundation, group revenue declined 0.3%. Excluding MultiChoice, revenue elevated 0.8% on a like-for-like foundation, supported by French-speaking Africa and the group’s content material manufacturing and distribution operations.
Africa and Asia revenue, together with MultiChoice, rose 3.1% on a restated foundation. But the figures conceal diverging performances throughout the continent: CANAL+’s Africa and Asia operations excluding MultiChoice recorded like-for-like revenue progress of 10.2%, whereas MultiChoice declined.
In French-speaking Africa, the group stated subscriber progress was supported by a compelling content material line-up and improved distribution effectivity. CANAL+ Telecom Africa, an African telecommunications and fibre broadband operator, additionally recorded double-digit revenue progress, pushed by the enlargement of its fibre-to-the-home community and stronger business momentum.
“We delivered a solid performance in the first nine months of the year as we continued to execute our strategy. Revenue was in line with our expectations, supported by strong momentum in French-speaking Africa and at STUDIOCANAL,” stated Saada.
CANAL+ can be strengthening its sports activities providing to guard its place within the African leisure market. The group secured exclusive rights to all UEFA men’s football club competitions throughout greater than 40 nations for 2027 to 2031, alongside rights throughout Africa for the 2027 Africa Cup of Nations and its qualifying marketing campaign.
CANAL+ stated it remained on monitor to ship its 2026 monetary steerage, together with €735 million ($825 million) in adjusted earnings earlier than curiosity and tax and €250 million ($281 million) in focused synergies measured by adjusted earnings earlier than curiosity and tax.
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