CANAL+ is targeting a global subscriber base of between 50 and 100 million subscribers, CEO Maxime Saada said as the company released its 2024 financial report.
As of the end of 2024, CANAL+ had a total of 26.9 million subscribers for its services across Europe (17.2 million) and Africa and Asia (9.7 million), recording a net gain of 118,000 subs, driven by its DTC strategy. Revenues totaled €6.4 billion, a 3.6 percent gain, with European revenues rising to €4.7 billion, Africa and Asia contributing €1 billion and content production and distribution at €817 million.
“2024 was a pivotal year for CANAL+,” Saada said. “I am thrilled to confirm that CANAL+ is now firmly on track to reach its ambition to become a global media and entertainment leader with 50 to 100 million subscribers. Key milestones were reached on the production and distribution of globally appealing content, on the integration of new assets Dailymotion and GVA, and on the ongoing acquisition of MultiChoice, the African pay-TV leader. With solid financials in 2024, a sound balance sheet, a new focus on cash generation, CANAL+ certainly has the means to support this ambition and to deliver strong value to our shareholders going forward.”
CANAL+ says it has made headway on its acquisition of MultiChoice. Last year, it increased its stake in Viaplay to 29.3 percent and in Viu in Asia to 37.2 percent.
On the year ahead, the company expects to take a hit from the expected closure of free-to-air channel C8 and the termination of content licensing deals in France, including with Disney.
Adjusted EBITA was down 19 percent to €380 million and the company recorded an adjusted net loss of €33 million, largely due to restructuring expenses.
