MultiChoice aqcuisition and StudioCanal boost half-year results

SENTINELS, THE-Photo 2024046_02-© Caroline Dubois - Federation Studio France - Esprits Frappeurs - CANAL+

StudioCanal-distributed The Sentinels, broadcast on Canal+, was acquired by the BBC

Canal+’s takeover of African pay-TV giant MultiChoice contributed to a 40% revenue jump year-on-year to hit £3.7bn (€4.3bn).

According to the group’s half-year financial results, the figure was up from £2.6bn (€3.1bn) in 2025. Without the MultiChoice acquisition, which closed in September 2025, the figure increased by just 1.4%.

Adjusted earnings before interest and tax (EBITDA) rose by more than two-thirds (68%) from £220m (€257m) to £370m (€433m).

The H1 results continue the growth from Canal+’s first quarter results in April, where revenues rose 41%.

Production and distribution unit StudioCanal also made a significant contribution to the uptick, reporting a nearly 10% (9.9%) jump in revenues to £304m (€356m) compared to the first half of 2025, supported by films including Gourou (Guru), The Housemaid and Extra Wurst.

Canal+ reported growth across all segments of the business, which includes TV production entities Urban Myth Films (Paris Has Fallen) and SunnyMarch in the UK, and recent majority acquisition SAM Productions (The Chestnut Man, Borgen) in Denmark.

EBITDA stood at £24m (€28m), slightly down from £26m (€30m) the same time last year.

Chief executive Maxime Saada said the revenue and profit increases reflected “our increased scale following the acquisition of MultiChoice”.

“StudioCanal had an excellent six months on and off screen, delivering a series of theatrical successes. With a slate including Paddington 4, Zack Snyder’s remake of Escape from New York, our first major South African film production, The Road Home, and Danny Boyle’s Ink, STUDIOCANAL’s momentum looks set to continue.

We continued to generate very strong free cash flow, benefitting from cash optimisation initiatives and seasonality effects,” he added.

“Following the acquisition of MultiChoice, our increased scale is starting to deliver the benefits we expected. We have achieved half of our €250m synergies target and remain well on track for the year, and we confirm our full-year and medium-term guidance.”

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