In a bold move, Canal+ Group, led by CEO Maxime Saada, has reaffirmed its dedication to the world of cinema. The French media powerhouse announced in September its intention to acquire a significant minority stake in UGC, one of France's largest cinema chains. This acquisition, which gives Canal+ the option to take full control in 2028, is a testament to their commitment to the industry.
But here's where it gets interesting: UGC isn't just a cinema chain. It also boasts a high-quality content library and intellectual property (IP) that will further enrich the already impressive catalogue of StudioCanal, Canal+'s film production and distribution arm. With over 9,400 titles under its belt, StudioCanal is set to become an even more formidable player in the film industry.
And this is the part most people miss: Canal+ isn't just about the big screen. On Thursday, they also highlighted the success of 'I Swear', a critically acclaimed film starring Robert Aramayo, Maxine Peake, and Shirley Henderson. This Scottish Tourette Syndrome advocate dramedy has not only topped the UK box office but has also set a new record as the highest-rated film by UK cinema audiences.
Canal+, which originated as a spin-off from Vivendi, ended 2024 with an impressive 26.9 million subscribers. Their strategy? An 'active M&A approach', which has led to some significant moves. For instance, their acquisition of a controlling stake in the African pay-TV giant MultiChoice.
Revenue for the first nine months of 2025 stands at €4.61 billion, a 1.2% organic increase, even before factoring in the results from MultiChoice over an 11-day period.
Earlier this week, Canal+ announced that the integration of MultiChoice and Canal+ has begun, with plans to provide a strategic update for the combined group during the first quarter of 2026. This update will detail their plans and the expected synergies.
In a further move, Canal+ is seeking a secondary listing of its shares in Johannesburg, in addition to its primary listing in London.
CEO Saada is optimistic about the future, stating that the coming together of Canal+ and MultiChoice, along with the clarified path to full ownership and the secondary listing, marks a transformative new era for their business. With 40 million customers across 70 countries, Canal+ now boasts true scale.
He further emphasized their commitment to creating value and leveraging their increased scale to deliver synergies and improve their combined business for the benefit of all stakeholders.
Saada's 'super-aggregation strategy' has been a key part of Canal+'s approach. Instead of viewing subscription video on-demand platforms as a threat, they've embraced them as an opportunity, much like a judo master would use the strength of their opponent to their advantage.
So, what do you think? Is Canal+'s strategy a bold move towards the future of entertainment, or are there potential pitfalls that could impact their success? We'd love to hear your thoughts in the comments below!
