MultiChoice records biggest subscriber gain in a decade after Canal+ takeover

MultiChoice delivered its strongest month for new subscriber sign-ups in ten years during June 2026, according to half-year results published by French parent company Canal+. New subscriber acquisition across MultiChoice markets rose 40% compared to the same period in 2025, with South Africa leading the growth. The group's total subscriber base climbed more than 8% over the period.

Canal+ investment fuels turnaround

Canal+ completed its takeover of MultiChoice in September 2025. By March 2026, it committed €100 million (roughly R2 billion) to revive the struggling African pay-TV operator. The latest financial results suggest that investment is beginning to show returns. Canal+ CEO Maxime Saada said the group had already achieved half of its €250 million synergies target following the MultiChoice acquisition.

Saada stated: "Following the acquisition of MultiChoice, our increased scale is starting to deliver the benefits we expected. We have achieved half of our €250m synergies target and remain well on track for the year, and we confirm our full-year and medium-term guidance."

Content wins and strategic shifts

Canal+ said the turnaround has been supported by a strengthened content offering. The company secured long-term broadcast rights to the Premier Soccer League in South Africa, as well as the Men's 2027 Rugby World Cup and Women's 2029 Rugby World Cup across sub-Saharan Africa.

MultiChoice also announced it would not increase DStv subscription prices in 2026, marking a departure from its long-standing practice of reviewing tariffs annually. The decision forms part of the company's strategy to attract and retain customers after losing subscribers in recent years. MultiChoice has faced growing competition from global streaming platforms such as Netflix, Disney+, and Amazon Prime Video. On the content side, MultiChoice plans to shut down its streaming platform Showmax.

Financial results and market impact

Canal+'s total revenue rose 40% to €4.3 billion in the first half of 2026, a jump the company attributed primarily to the consolidation of MultiChoice into its books. Adjusted earnings before interest and tax, stripping out the MultiChoice contribution, were up 13%, driven by operational improvements across the group. In Africa and Asia, the same measure rose 9%, with pay-TV revenue growth credited for the gain.

Canal+ also noted that its European business benefited from improvements in France, including a thorough cost review carried out in 2025. The strong set of results gave Canal+'s share price a lift on the JSE main board, where the company holds a secondary listing.

For Nigerian consumers, the price freeze on DStv subscriptions and the planned shutdown of Showmax point to a broader strategy to defend market share against streaming rivals. The renewed subscriber growth suggests that content investment and pricing discipline are working, at least for now. If the trend continues, Nigerian households may see more competitive offers from MultiChoice as it fights to keep viewers on its platform.