Canal+ Unveils R1.9 Billion Investment Plan for MultiChoice
“To restart subscriber growth, Canal+ will launch a growth boost plan by investing about €100m (R1.9bn).” This statement underscores the urgency behind Canal+’s recent announcement regarding its investment strategy for MultiChoice, a company it took control of in September 2025.
The investment plan comes at a critical time for MultiChoice, which has seen its subscriber base decline from 14.9 million to 14.4 million in 2025. The decline has been attributed to various macro-economic factors and a challenging transition to over-the-top (OTT) services, which have reshaped the media landscape in recent years.
Canal+ has structured the boost plan around four key pillars: content, commercial offers, sales, and operational restructuring. This comprehensive approach aims to simplify and reprice commercial offers to attract new subscribers while retaining existing ones. As part of this strategy, Canal+ plans to recruit over 1,000 salespeople across MultiChoice’s markets to enhance its outreach and customer engagement.
In addition to expanding its sales force, Canal+ will initiate a voluntary severance plan at MultiChoice, reflecting the need for operational efficiency amid a backdrop of declining revenues. The company reported a 6% revenue decline for MultiChoice in 2025, highlighting the financial challenges it faces.
Canal+ aims to achieve more than €250 million in adjusted Ebit savings in 2026, with expectations of a modest decrease in MultiChoice subscribers during the same year. The investment plan also includes lowering entry costs through equipment subsidies, making it more accessible for potential subscribers.
Maxime Saada, group CEO of Canal+, acknowledged the scale of the challenge, stating, “2025 had been ‘another challenging year’ for MultiChoice.” He also noted, “We completed the acquisition of MultiChoice and we have identified run-rate cost savings from synergies of €400m from 2030 onwards,” indicating a long-term vision for the company’s financial health.
As Canal+ moves forward with its ambitious investment plan, the media industry will be closely watching how these changes impact MultiChoice’s subscriber growth and operational performance in the coming years. These changes will be enacted in compliance with the social procedures of the relevant jurisdictions, ensuring that the transition aligns with local regulations and practices.
