Canal+ sees strong growth

Source: Canal+

French pay TV operator saw significant revenue growth of 5.7% for the third quarter, and 3.9% for the first nine months of the year, thanks to Studiocanal’s strong 23.6% growth and growth of 3.3% in pay TV revenue in France.

Revenues from television operations in mainland France increased by 3.3% compared to the first nine months of 2022. It said the subscriber base had grown, without breaking out figures.

Revenues from international operations increased by 1.7% (up 1.0% at constant currency),

The third quarter saw Canal+’s acquisition of a 12% interest in Viaplay Group, the struggling Nordic streaming leader, and the strengthening of the interest in the share capital of MultiChoice Group, with Canal+ Group holding 32.93% as of September 30, 2023;

The quarter also saw its acquisition of the remaining 30% of the share capital of SPI International, allowing Canal+ Group to take full ownership of the company.

“The growth in revenues for the first nine months of 2023 reflects the validity of Vivendi’s strategy. Canal+ Group and Havas demonstrated the relevance of the transformation and internationalization actions we have implemented with them in recent years,” said Yannick Bolloré, CEO of parent company Vivendi.

“Canal+ Group’s strong performances are the result of its operational excellence and a willingness to make significant investments in original content for cinema and television. Through its recent agreements with Viu, for development in South-East Asia, and with Viaplay, in the Nordic countries, Canal+ Group demonstrated its ambition to be an international player in the audiovisual field.”