Full Breakdown
Canal+ Boosts Revenue and Commits €980 million to French Cinema in Landmark Deal
7/29/2026, 1:22:21 PM
Core Event: Record Investment and Revenue Surge
Canal+ Group announced a five-year agreement to invest €980 million in French and European cinema starting in 2028. The deal, signed with the BLIC and other French film bodies, links Canal+ and CINÉ+ OCS to a financing framework for new talent, diverse storytelling, animation, mid-budget productions and large-scale titles.
In H1 2026, Canal+ reported group revenue of roughly €4.3 billion, a 40 % year-on-year increase, driven largely by the 2025 acquisition of Africa’s MultiChoice. Adjusted EBIT rose 68 % to €433 million, with a margin of about 10 %.
Background & Context: MultiChoice acquisition and French cinema policy
Canal+ completed a €2 billion purchase of MultiChoice in 2025, adding 40 % more subscribers in its territories during H1 2026. The acquisition underpins the revenue jump and the synergy target of €250 million, half of which has already been realised.
France’s “cultural exception” reserves a six-month window after theatrical release for pay-TV broadcasters. The new agreement preserves this window, reinforcing cinema’s role in the French creative economy while providing stable funding for authors, directors, producers and distributors.
Data & Statistics
| Metric (H1 2026) | Figure |
|---|---|
| Total group revenue | €4.29 billion |
| Revenue growth (incl. MultiChoice) | +40 % YoY |
| Adjusted EBIT | €433 million (? 68 %) |
| EBIT margin | 10.1 % |
| Synergies achieved | €125 million |
| Subscribers (combined) | 41.2 million, up 8.4 % YoY |
Official Statements & Responses
Canal+ CEO Maxime Saada highlighted the dual significance of the cinema pact and the financial results. French film bodies called the agreement “unprecedented,” noting its aim to safeguard author status, promote diversity and maintain the media chronology that underpins France’s film-financing system.
Verbatim Quotes
- “Following the acquisition of MultiChoice, our increased scale is starting to deliver the benefits we expected. We have achieved half of our €250 million synergies target and remain well on track for the year, and we confirm our full-year and medium-term guidance.” — Maxime Saada, CEO
- “By investing a record amount of nearly 1 billion euros over an unprecedented five-year term, we are proud to reaffirm our support for cinema, its power, creativity, and diversity.” — Saada
Conflicting Reports & Gaps
Sources differ slightly on the exact revenue figure: advanced-television reports €4.29 billion, while Variety cites €4.3 billion. All agree on a 40 % growth rate and the €980 million cinema commitment. No source provides a detailed breakdown of how the €980 million will be allocated across specific film projects.
What’s Next
The €980 million investment will run from 2028 to 2032, covering both Canal+ and CINÉ+ OCS. Canal+ also plans to launch its service in Belgium in 2027 after securing exclusive UEFA club-competition rights. The group’s turnaround of MultiChoice is expected to continue, with further rights deals for the Premier Soccer League and upcoming Rugby World Cups in the sub-Saharan market.
