Blab Business
MultiChoices Turnaround Shows Early Success, June 2026 Brings Record Subscriber Gains in South Africa
French media group Canal+ says its recent takeover of MultiChoice is already delivering a turnaround. In a note to shareholders, the company announced that MultiChoice’s subscriber base grew 7 % across Africa in the first half of 2026, after accounting for cancellations. The uptick is attributed to the operator’s cost‑cutting, content‑refresh and sales‑network expansion plans.
The Canal+ acquisition, completed in July 2026, was aimed at reviving MultiChoice after years of customer loss. The turnaround strategy, unveiled in 2025, focused on reducing supplier costs, reshaping the content portfolio and setting ambitious employee targets. Canal+ said the strategy is now “underway” and that the company is seeing measurable progress.
Subscriber data released by Canal+ shows that outside South Africa, MultiChoice added new customers at a rate 40 % higher than the same period in 2025. The operator serves markets in Namibia, Zambia, Angola, Nigeria, Ghana, Kenya and Tanzania, among others. The increase reflects new sign‑ups only; the overall subscriber base in those markets still rose modestly because cancellations remained high.
In South Africa, June 2026 was the strongest month for new subscriber uptake in a decade. The company said the month saw a 40 % jump in new sign‑ups, even though the net base growth was modest. Canal+ also secured long‑term rights to the Premier Soccer League, the country’s most watched sports competition, which is expected to support future subscriber growth.
Content refresh is a key pillar of the turnaround. Canal+ announced that MultiChoice now holds exclusive, long‑term rights to the 2027 and 2029 Rugby World Cups across sub‑Saharan Africa. The company also highlighted new South African productions, including the film "The Road Home", the drama "Heist of Benin" and a screen adaptation of the novel "Americanah". In South Africa, the launch of the Novelas+ channel and a World Cup advertising campaign featuring Idris Elba were cited as successful marketing initiatives.
Financially, the company reported that MultiChoice’s adjusted EBIT before exceptional items rose 160 % to €143 million (R2.7 billion) in the first half of 2026, compared with €55 million (R1 billion) in the same period in 2025. Canal+ attributed the increase to synergies and a P&L impact of €120 million, which includes the effect of discontinuing Showmax. The company said it has achieved half of its €250 million synergies target and remains on track for the year.
According to Canal+ CEO Maxime Saada, “Finally, following the acquisition of MultiChoice, our increased scale is starting to deliver the benefits we expected. We have achieved half of our €250 million synergies target and remain well on track for the year, and we confirm our full‑year and medium‑term guidance.” Saada’s remarks were made during a shareholder briefing held in Paris.
Showmax, MultiChoice’s former over‑the‑top streaming service, was shut down on 30 April 2026. The company announced that the service would be replaced by DStv Stream and, in the future, a Canal+ streaming platform.
The combined data suggest that the turnaround strategy is beginning to translate into measurable outcomes. Subscriber growth, content rights and improved profitability are all positive indicators for the company’s market position. The results also demonstrate the potential benefits of the $3 billion acquisition for Canal+.
At present, MultiChoice’s performance remains under close scrutiny by investors and regulators. The company will report its full‑year results in early 2027, and shareholders will vote on any further capital‑raising or strategic initiatives. The outcome of those events will determine whether the company can sustain the momentum gained in the first half of 2026.
The Canal+ acquisition, completed in July 2026, was aimed at reviving MultiChoice after years of customer loss. The turnaround strategy, unveiled in 2025, focused on reducing supplier costs, reshaping the content portfolio and setting ambitious employee targets. Canal+ said the strategy is now “underway” and that the company is seeing measurable progress.
Subscriber data released by Canal+ shows that outside South Africa, MultiChoice added new customers at a rate 40 % higher than the same period in 2025. The operator serves markets in Namibia, Zambia, Angola, Nigeria, Ghana, Kenya and Tanzania, among others. The increase reflects new sign‑ups only; the overall subscriber base in those markets still rose modestly because cancellations remained high.
In South Africa, June 2026 was the strongest month for new subscriber uptake in a decade. The company said the month saw a 40 % jump in new sign‑ups, even though the net base growth was modest. Canal+ also secured long‑term rights to the Premier Soccer League, the country’s most watched sports competition, which is expected to support future subscriber growth.
Content refresh is a key pillar of the turnaround. Canal+ announced that MultiChoice now holds exclusive, long‑term rights to the 2027 and 2029 Rugby World Cups across sub‑Saharan Africa. The company also highlighted new South African productions, including the film "The Road Home", the drama "Heist of Benin" and a screen adaptation of the novel "Americanah". In South Africa, the launch of the Novelas+ channel and a World Cup advertising campaign featuring Idris Elba were cited as successful marketing initiatives.
Financially, the company reported that MultiChoice’s adjusted EBIT before exceptional items rose 160 % to €143 million (R2.7 billion) in the first half of 2026, compared with €55 million (R1 billion) in the same period in 2025. Canal+ attributed the increase to synergies and a P&L impact of €120 million, which includes the effect of discontinuing Showmax. The company said it has achieved half of its €250 million synergies target and remains on track for the year.
According to Canal+ CEO Maxime Saada, “Finally, following the acquisition of MultiChoice, our increased scale is starting to deliver the benefits we expected. We have achieved half of our €250 million synergies target and remain well on track for the year, and we confirm our full‑year and medium‑term guidance.” Saada’s remarks were made during a shareholder briefing held in Paris.
Showmax, MultiChoice’s former over‑the‑top streaming service, was shut down on 30 April 2026. The company announced that the service would be replaced by DStv Stream and, in the future, a Canal+ streaming platform.
The combined data suggest that the turnaround strategy is beginning to translate into measurable outcomes. Subscriber growth, content rights and improved profitability are all positive indicators for the company’s market position. The results also demonstrate the potential benefits of the $3 billion acquisition for Canal+.
At present, MultiChoice’s performance remains under close scrutiny by investors and regulators. The company will report its full‑year results in early 2027, and shareholders will vote on any further capital‑raising or strategic initiatives. The outcome of those events will determine whether the company can sustain the momentum gained in the first half of 2026.
