Canal Plus reported a 2.5% revenue drop in Q1, bringing in $1.75 billion compared to $1.67 billion the previous year. The broadcaster’s organic group revenue increased by 1.5%, but reported figures declined due to the termination of unprofitable contracts as part of a strategy focused on profitability and cash generation.
European revenues were $1.2 billion, down from $1.28 billion, while African and Asia income fell to $287 million from $314 million. The latter decrease was partly attributed to the absence of the biennial Africa Cup of Nations tournament, which had significantly boosted revenues in the previous year.
Canal Plus experienced growth in direct-to-consumer revenues in France, but wholesale and sub-licensing income declined due to discontinued contracts. Revenues in Poland also increased. For content production and distribution, revenue rose 8.2% to $173.8 million.
CEO Maxime Saada stated that 2024 marked a pivotal year for the company, focusing on becoming a global media leader with disciplined financial strategies. The broadcaster is also working to acquire sub-Saharan African group Multichoice, with the deadline for regulatory clearance pushed to October 8. Saada noted that this acquisition could significantly enhance African operations and unlock new market potential. Additionally, Canal Plus extended its strategic partnership with Samsung Electronics in February.
