MultiChoice recorded its strongest month for new subscriber sign-ups in a decade during June 2026, according to half-year results published by its French parent company Canal+ on Tuesday. The milestone marks a significant turnaround for the African pay-TV operator, which has faced intense competition from global streaming platforms in recent years.
Subscriber Acquisition Surges 40%
Across MultiChoice markets, new subscriber acquisition grew 40% compared to the same period in 2025, with South Africa singled out as a standout performer. The group's total subscriber base expanded by more than 8% over the period. Canal+ completed its takeover of MultiChoice in September 2025 and, by March 2026, committed €100 million (roughly R2 billion) to revive the struggling operator.
Content Deals Drive Turnaround
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. These deals are expected to bolster subscriber retention and attract new customers.
Group Chief Executive Maxime Saada said the benefits of the MultiChoice acquisition were becoming clear. "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," Saada stated.
Revenue and Earnings Climb Across the Group
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 results gave Canal+'s share price a lift on the JSE main board, where the company holds a secondary listing.
DStv Subscription Fees Frozen in 2026
In a related move, MultiChoice 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, which have continued to draw viewers away from traditional pay-TV services.
The combination of aggressive content investments, stable pricing, and the financial backing of Canal+ appears to be reversing MultiChoice's subscriber decline. With half of the €250 million synergy target already achieved, the company is poised for further growth in the second half of the fiscal year.
