French media group Canal+ is considering rolling out its streaming app to customers of MultiChoice Group across Africa following its acquisition of the pay-TV operator last year, a move that could reshape how millions of viewers access entertainment on the continent.
The Canal+ app already aggregates content from major global partners such as Apple TV and HBO Max, enabling users to watch films and television series from multiple providers on a single platform. According to Canal+ Chief Financial Officer, Amandine Ferre, ease of use is central to the company’s strategy.
“All of the content is embedded on the Canal+ app, and as a user you do not have to go on another app,” Ferre said in an interview.
Canal+ took control of MultiChoice late last year in a transaction that valued the African broadcaster at about $3 billion. MultiChoice has its strongest presence in southern and eastern Africa, as well as in Nigeria and Ghana, while Canal+ already enjoys a strong footprint in francophone West Africa. The deal has created a rare pan-African media platform with reach across both English- and French-speaking markets.
Despite the scale of the opportunity, key strategic decisions are still pending. Canal+ has yet to determine the future of Showmax, MultiChoice’s streaming service, which it co-owns with Comcast, and has not confirmed which African markets would be prioritised for the Canal+ app rollout.
Investor sentiment, however, has been upbeat. Canal+ shares rose by as much as 15 per cent in London trading following the announcement, hitting record highs. The company has forecast that the combined entertainment business could deliver more than €400 million in earnings before interest, tax and amortisation by 2030, alongside around €300 million in free cash-flow cost savings.
At current exchange rates, this equates to more than $475 million in annual earnings and approximately $357 million in cost savings, with Africa expected to play a central role in achieving these targets.
A key challenge for Canal+ will be reversing MultiChoice’s recent subscriber losses. The company has lost nearly three million customers over the past two financial years, weighed down by rising costs, economic pressures and intensifying competition from global streaming platforms.
In response, Canal+ has already started implementing changes. Ferre said the group renegotiated contracts for set-top boxes and has been supplying cheaper units since November, in a bid to make pay-TV more affordable.
“We are really working on the entry ticket and the best packages, and making sure we have the best price,” Ferre said.
Content strategy is also under review. The combined platform has reinstated National Basketball Association games on MultiChoice’s SuperSport channels after an eight-year absence and added French Ligue 1 football matches to its offering. These additions are intended to strengthen the appeal of traditional pay-TV while supporting any future streaming expansion.
MultiChoice was originally part of Cape Town-based Naspers and was spun off in 2019. Canal+ first launched its takeover bid in 2024. MultiChoice’s premium package currently costs about $60 per month, a price point Canal+ appears keen to reassess as it seeks to broaden affordability and grow its African audience.
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