French media group Canal+ is considering deploying its streaming app to customers of MultiChoice Group, following its acquisition of the African pay-TV operator last year. The move could significantly reshape how millions of viewers across Africa access entertainment content.
The Canal+ app already aggregates content from major global partners, including Apple TV and HBO Max, allowing users to watch shows and films from multiple providers within a single platform. According to Canal+ Chief Financial Officer Amandine Ferre, the simplicity of the experience is central to the 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+ gained control of MultiChoice late last year in a deal that valued the African broadcaster at roughly $3 billion. MultiChoice’s operations are strongest in southern and eastern Africa, as well as Nigeria and Ghana, while Canal+ already has a strong footprint across francophone West Africa. The acquisition gives Canal+ a rare pan-African media platform with reach across both English- and French-speaking markets.
However, major strategic questions remain unresolved. Canal+ has not yet decided what to do with Showmax, MultiChoice’s existing streaming service, which it co-owns with Comcast. It has also not made a final call on which African markets will see the Canal+ app rolled out first.
Despite the uncertainty, investors have reacted positively. Canal+ shares surged as much as 15 percent in London trading following the announcement, reaching record highs. The company has projected that the combined entertainment platform could generate more than €400 million in earnings before interest, tax, and amortisation by 2030, alongside roughly €300 million in free cash-flow cost savings.
Converted at current exchange rates, this equates to more than $475 million in annual earnings and around $357 million in cost savings. Canal+ says Africa will be central to achieving these targets.
One immediate challenge is reversing MultiChoice’s recent subscriber losses. The company has shed nearly three million customers over the past two financial years, pressured by rising costs, economic strain, and growing competition from global streaming platforms.
To address this, Canal+ has already begun making changes. Ferre confirmed that the group renegotiated contracts for set-top boxes and has been supplying cheaper units since November. The aim is to lower the barrier to entry for customers who may find premium television too expensive.
“We are really working on the entry ticket and the best packages, and making sure we have the best price,” Ferre said.
Content remains another major focus. The combined platform has restored National Basketball Association games to MultiChoice’s SuperSport channels after an eight-year absence and has added French Ligue 1 football matches to its lineup. These moves are designed to strengthen the appeal of traditional pay-TV while complementing any future streaming strategy.
MultiChoice was originally part of Cape Town-based Naspers and was spun off in 2019. Canal+ first made its takeover approach in 2024. Today, MultiChoice’s premium package costs around $60 per month, a price point that Canal+ appears eager to revisit as it targets broader affordability.
