Canal+ plans to spend up to \u20ac100 million (R1.9 billion) on a boost plan in 2026 to accelerate a MultiChoice turnaround and support the DStv owner’s return to sustainable growth.<\/p>\n\n\n\n
At the release of its annual financial results on Wednesday, the French media giant reported continued revenue and subscriber declines at MultiChoice.<\/p>\n\n\n\n
For the year ended 31 December 2025, MultiChoice revenue dropped by \u20ac142 million (R2.69 billion), driven by a loss of 500,000 subscribers. <\/p>\n\n\n\n
The latest results follow a cumulative loss of R7 billion in the broadcaster’s two previous financial years, which ran from 1 April 2023 to 31 March 2025.<\/p>\n\n\n\n
Canal+’s plan to return MultiChoice to profitability is structured around four strategic pillars designed to reignite subscriber growth and strengthen the business.<\/p>\n\n\n\n
Firstly, Canal+ will focus on having the most compelling content proposition in Africa, leveraging joint products, in-house channels, and global partnerships.<\/p>\n\n\n\n
The company said that producing thousands of hours of local African content and retaining key sports rights would remain a “cornerstone” of the business.<\/p>\n\n\n\n
Secondly, Canal+ plans to simplify and strengthen MultiChoice’s commercial propositions with clearer pricing, streamlined branding, and more effective marketing.<\/p>\n\n\n\n
Thirdly, it plans to increase subscriber growth by lowering entry costs through subsidies on user equipment, expanding its distribution network, and hiring over 1,000 on-the-ground salespeople.<\/p>\n\n\n\n
However, the plan is likely to include retrenchments. The last pillar of the strategy \u2014 Operational Excellence at Scale \u2014 includes initiating a voluntary severance plan at MultiChoice’s support functions.<\/p>\n\n\n\n
In addition, the company is launching a restructuring programme at Irdeto, its wholly-owned technology and cybersecurity company. “Restructuring” is often used as a euphemism for retrenchments.<\/p>\n\n\n\n
Canal+ said these interventions aimed to improve MultiChoice’s operational efficiency with best practices and a standardised operating model across markets.<\/p>\n\n\n\n
The company asserted the measures were consistent with the commitments it made to the Competition Tribunal during the acquisition of MultiChoice.<\/p>\n\n\n\n
That means South African employees across the MultiChoice Group should be safe from retrenchments for a few years.<\/p>\n\n\n\n
It also said the restructuring aligned with Canal+’s ambition to streamline certain functions while investing in activities that directly support MultiChoice’s growth and business development.<\/p>\n\n\n\n
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<\/figure>\n\n\n\nOther cost-cutting measures detailed in the results include rationalising MultiChoice’s real estate portfolio and ending its standalone video streaming service Showmax.<\/p>\n\n\n\n
Showmax’s relaunch in early 2024 has cost MultiChoice billions of rand in development and licensing fees.<\/p>\n\n\n\n
That investment failed to deliver anywhere near the subscriber or revenue growth the company wanted to achieve.<\/p>\n\n\n\n