Canal+ Group, which also houses film production and distribution arm StudioCanal and was recently spun off by Vivendi, reported its full-year 2024 results on Tuesday, ending the year with 26.9 million subscribers in 52 countries across three continents, up slightly from 26.8 million as of the end of 2023, as revenue and earnings rose.
Revenue rose 3.6 percent to €6.45 billion ($6.77 billion), with EBITA up 5.4 percent to €503 million ($528 million). The company also highlighted “a very limited debt level of €355 million ($372 million), which will allow Canal+ to pursue its active M&A strategy.”
A 2.5 percent subscriber gain in Africa and Asia outweighed a 0.7 percent drop in European markets to help the company grow its total user base by 118,000 for the year.
Said CEO Maxime Saada: “2024 was a pivotal year for Canal+. 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 50-100 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.”
He also discussed content successes. “In 2024, Canal+ repeatedly demonstrated its ability to produce globally appealing content. Studiocanal, our in-house studio, broke box-office records all over the world. Back to Black topped charts in eight countries and Wicked Little Letters became Britain’s highest grossing independent comedy since 2021,” the CEO said. “Beating Hearts was Studiocanal’s highest-grossing film ever in France selling almost 5 million tickets. Paddington in Peru was successfully released, garnering 170 million dollars in global box office to date, bringing the total box office for the Paddington trilogy franchise close to $700 million, paving the way for new movies, series, stage shows and immersive experiences. More recently, global box-office success, Bridget Jones: Mad About the Boy proves once again that the Bridget Jones franchise continues to resonate with audiences worldwide.”
Also, Studiocanal launched a new label dedicated to genre movies, Sixth Dimension, and unveiled its first project, the reboot of Silent Night, Deadly Night.
“Studiocanal’s first-ever global TV series Paris Has Fallen, based on the successful Has Fallen movie franchise, was a smashing success in all CANAL+ PayTV territories, as well as on Amazon Prime in the U.K. and Hulu in the United States,” said Saada. “It will naturally be followed by a second season now shooting in the U.K. Studiocanal is currently developing numerous franchises based on IPs owned by Canal+, such as a new Evil Dead movie and a reboot of Escape From New York or the next live-action Astérix movie whose beloved European brand with revenue-generating characters is owned by the Lagardère group.”
Saada also highlighted on Tuesday: “Cinema is the number one driver of subscriber acquisition, retention and satisfaction for Canal+. Which explains why, in addition to Studiocanal productions, and numerous output deals signed with U.S. studios, Canal+ is the leading industrial and financial partner of local cinema in territories where it operates and where domestic cinema is strongest, notably France, Africa and Poland. This strategy enables Canal+ to secure access to the most successful domestic productions.” He also touted the firm’s “leading role in African cinema.”
