Canal+ Group announced its financial results for the first nine months of the year, reporting a revenue of €4.61 billion. This represents a 1.2% organic increase, excluding the impact of the newly consolidated MultiChoice (€78 million for its 11 days under the Paris umbrella). Management highlighted that all three segments experienced organic growth despite reported declines due to terminated agreements.
In Europe (€3.41 billion), the growth was primarily driven by Poland, where pay-TV revenue increased due to price increases for OTT and DTH services. Stronger advertising revenue from owned premium and thematic channels also contributed. Regarding mainland France, revenue decreased as anticipated following the end of the Disney contract, the cessation of the UEFA Champions League sublicensing partnership, and the closure of the C8 channel. However, excluding C8, advertising revenue increased, supported by record audiences for CNEWS.
Africa & Asia (€783 million) showed moderate growth. Africa remained strong due to new third-quarter offers bundling Netflix and the launch of the premium channel Canal+ Magic. GVA continued to report double-digit revenue growth from its fibre rollout and increasing penetration in Congo, Côte d’Ivoire, and DR Congo. Asia’s performance was mixed: Vietnam experienced a decline following a wholesale exit and DTH erosion, partly offset by the August launch of Premier League rights in Myanmar.
In Content Production, Distribution & Other (€485 million), StudioCanal's revenue decreased year-on-year due to delivery phasing compared to a heavier 2024 schedule. This was partly offset by box-office and series sales in 2025, while Dailymotion maintained strong double-digit revenue growth due to broader programmatic reach and product improvements.
According to Canal+, underlying growth is fueled by pricing and OTT momentum in Poland, advertising gains from CNEWS in France, resilient pay-TV and new bundle/channel offers in Africa, fast-growing GVA fibre, and Dailymotion’s advertising uplift. However, reported revenue is still impacted by deliberate exits from legacy contracts and the C8 closure.