French media conglomerate Canal+ has unveiled a €100 million initiative to reignite growth at MultiChoice Group, the African pay-TV powerhouse operating DStv and GOtv.
Canal+, having finalized its full acquisition of MultiChoice late last year (in September 2025), disclosed this support package in its 2025 full-year financial results released on Wednesday.
The reports highlight that MultiChoice experienced a notable drop in both subscribers and revenue during 2025, largely due to tough market conditions, particularly in Nigeria.
MultiChoice closed 2025 with 14.4 million subscribers, a decline from 14.9 million the previous year. Revenue fell 6% to €2.4 billion, while adjusted earnings before interest and tax (EBIT) decreased 14% to €159 million.
Canal+ explained that after strong expansion between 2010 and 2023, MultiChoice has encountered headwinds since then. These include macroeconomic pressures (such as currency devaluation in Nigeria and frequent power outages), a costly and unsuccessful shift to over-the-top (OTT) streaming via Showmax, and widespread inflation—especially in content costs—that has eroded profitability.
Although MultiChoice implemented immediate fixes like cutting subscriber acquisition subsidies and raising prices, these steps further shrank the customer base and intensified the profitability challenges.
The company anticipates a €140 million negative impact on its performance in 2026, stemming from ongoing subscriber attrition, reduced revenues, and persistent cost inflation.
To reverse the subscriber decline and spur renewed growth, Canal+ will implement a €100 million “growth boost plan.”
This includes recruiting over 1,000 additional sales personnel across key African markets, transitioning MultiChoice to a more aggressive, sales-oriented approach aimed at expanding its subscriber numbers.
The announcement comes on the heels of Canal+’s complete takeover of MultiChoice, a roughly $3 billion transaction completed in September 2025 that greatly broadened the French group’s presence in the global pay-TV sector.
The merger unites two industry leaders, creating a combined entity with more than 40 million subscribers across nearly 70 countries in Africa, Europe, and Asia, and employing around 17,000 people.
Canal+ has also signaled that it will present a comprehensive integration roadmap—covering operational synergies and future growth strategies—during a strategic update planned for the first quarter of 2026.
WHAT YOU SHOULD KNOW
Following its $3 billion acquisition of MultiChoice, Canal+ has unveiled a €100 million turnaround plan for the DStv and GOtv parent company after a rough 2025, marked by a drop in subscribers (14.9M to 14.4M) and a 6% revenue decline.
Nigeria’s currency crisis, power instability, and the costly collapse of Showmax. The key takeaway is that Africa’s largest pay-TV operator is under serious pressure, and Canal+’s bet, including hiring 1,000+ sales staff, is a race against a projected €140 million shortfall in 2026.
