Canal+ has reaffirmed its objective to become a leading global media and entertainment powerhouse, setting its sights on a subscriber base of 50 to 100 million. In 2024, the company made significant strides in content production, strategic acquisitions, and financial performance, solidifying its position as a key player in the evolving media landscape.
Maxime Saada, CEO of Canal+, highlighted the company’s progress in producing globally appealing content through Studiocanal, its in-house studio. Major successes included "Back to Black," which topped box-office charts in eight countries, "Wicked Little Letters," the highest-grossing UK independent comedy since 2021, and "Beating Hearts," Studiocanal’s most successful film in France with nearly 5 million tickets sold. "Paddington" in Peru continued the franchise’s worldwide appeal, earning $170 million at the global box office and pushing the total franchise revenue close to $700 million. Additionally, Studiocanal launched "Sixth Dimension," a new label dedicated to genre films, and announced major upcoming projects, including a "Silent Night, Deadly Night" reboot and new installments of "Evil Dead" and "Escape from New York."
Beyond film, Canal+ demonstrated strength in television content, with "Paris Has Fallen"—its first global TV series based on the Has Fallen film franchise—achieving strong performance across Canal+ territories and international streaming platforms such as Amazon Prime UK and Hulu US. A second season is now in production.
In a strategic move to secure premier content, Canal+ announced a new exclusive agreement with French cinema organizations, ensuring it remains the sole PayTV player with access to new films six months after theatrical release for the next three years. The company also reinforced its commitment to African cinema, with 27 films supported by Canal+ featured at the Pan-African Film and Television Festival of Ouagadougou (FESPACO).
In sports, Canal+ cemented its status as a global broadcaster, expanding rights for Formula 1, Rugby’s Top 14, the Premier League (now including Poland and Myanmar), and the UEFA Champions League (securing exclusive rights in Poland, Haiti, and Myanmar). Additionally, the company successfully launched cost-effective unscripted programs targeting younger audiences, with Loups Garous, Secret Story, and Bandura - Last Fight gaining traction in France, Africa, and Poland.
Further differentiating itself through content aggregation, Canal+ expanded its partnerships with Max, Paramount+, and DAZN while launching an exclusive bundle with Apple Music in France, a global first. The company also expanded its reach through direct distribution across multiple technology platforms and partnerships with LG, Philips, Vidaa, and Samsung Smart TVs. A groundbreaking collaboration with Renault now brings Canal+ content to connected vehicles.
Strategic acquisitions played a crucial role in Canal+’s growth. The successful integration of Dailymotion, GVA, and L’Olympia contributed positively to the company’s 2024 financial performance. Dailymotion achieved double-digit revenue growth, while GVA, the fastest-growing fiber-optic telecom operator in French-speaking Africa, saw a 50% increase in equipped customers. The company also made substantial progress in acquiring MultiChoice, Africa’s leading PayTV operator, with the deal expected to unlock significant synergies in content acquisition and technology. Canal+ further increased its stakes in Viaplay (29.3%) and Viu (37.2%) to strengthen its market position.
Financially, Canal+ delivered strong results, with revenue increasing by €226 million to €6.45 billion (a 3.6% rise from 2023), and EBITA before exceptional items reaching €503 million (up 5.4%). Cash flow from operations stood at €218 million despite anticipated exceptional costs. The company successfully reduced net debt to €355 million, positioning itself well for further strategic investments.
Subscriber growth was a key focus, with Canal+’s total customer base reaching 26.9 million in 2024. Direct-to-consumer (DTC) subscriptions increased by 1.9%, reflecting a shift toward higher-margin subscribers. The French market saw the highest growth in DTC subscribers in 15 years, driven by targeted offers and strategic telecom partnerships. However, wholesale subscriber numbers declined by 3.4% as part of Canal+’s focus on profitability.
Operational efficiency initiatives included the non-renewal of Ligue 1 and Disney contracts, withdrawal from DTT in France, and the discontinuation of PayTV operations in Ethiopia. These measures, while impacting 2024 results, are expected to drive profitability in 2025 and 2026. Exceptional costs totaling €122 million, including €82 million in restructuring expenses, were recorded as part of this transition.
On the corporate responsibility front, Canal+ launched a sustainability strategy aimed at fostering an inclusive and ethical workplace while delivering impactful content. The newly announced Canal+ Foundation will promote cultural accessibility, with detailed CSR initiatives to be disclosed later in the year.
To prioritize shareholder value, the management board proposed a €0.02 per share cash dividend for 2024, approved by the Supervisory Board and set for a shareholder vote on June 6, 2025. Moving forward, Canal+ is aligning executive incentives with financial performance, basing 50% of targets on EBITA and 50% on cash generation, reinforcing its commitment to long-term profitability.
With a clear growth strategy, solid financials, and strategic acquisitions in place, Canal+ is well-positioned to continue its global expansion, creating value for subscribers and stakeholders alike.