Canal+ Reports Strong Revenue Growth Despite VAT Dispute
Canal+ Group posted a 37.5 percent revenue increase for the first nine months of 2026 amid a tax hike challenge.
Updated on Oct. 22, 2026 in Television
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Canal+ Group announced total revenue of €6.41 billion for the first nine months of 2026, driven largely by its acquisition of MultiChoice. The media company also reported €2.13 billion in third-quarter revenue while actively opposing a proposed French VAT increase.
Why it matters
The proposed VAT increase within the 2027 French budget has prompted Canal+ to plan for potential subscription price hikes and cost reductions. The group is currently rallying support from cinema and sport organizations to challenge the measure.
Canal+ Group achieved €6.41 billion in total revenue during the first nine months of 2026, an increase of 37.5 percent compared to the prior period. Third-quarter revenue reached €2.13 billion, though shares fell 6.3 percent in London trading.
The players
Canal+ Group
This is a major French television and film production company that operates internationally and holds extensive sports broadcast rights.
MultiChoice
This is a prominent African entertainment company that provides pay-TV services across the continent.
Lucky Red
This is a film production and distribution company that was acquired by Canal+ in February 2026.
The details
Canal+ has secured exclusive rights to UEFA men's club competitions across 40 countries through 2031, alongside the 2027 Africa Cup of Nations rights. Meanwhile, its subsidiary MultiChoice launched a new value proposition in South Africa in September 2026 to consolidate market positioning.
Timeline
February 2026: Canal+ acquired the Italian company Lucky Red.
January-September 2026: Canal+ reported €6.41 billion in total revenue.
September 2026: MultiChoice launched a new value proposition in South Africa.
October 22, 2026: Canal+ CEO released the nine-month revenue figures.
2027: The proposed French VAT increase is scheduled to take effect.
Industry Dynamics
Canal+ is currently navigating the impact of the 2027 French budget, which proposes tax hikes that could reshape the profitability of European media giants. This tension reflects a broader trend of regulatory pressure on large streaming and broadcast entities attempting to scale via international acquisitions.
Consumers could face higher subscription prices if the proposed tax increase is adopted, as Canal+ plans to offset costs through price hikes. The company remains committed to broadcasting major UEFA and African sporting events, ensuring continued access to these exclusive competitions.
The takeaway
Canal+ is aggressively pursuing international expansion through acquisitions and rights deals while simultaneously preparing for a significant tax battle at home. Subscribers should monitor potential price adjustments as the company works to mitigate the impact of proposed fiscal policies.
Further reading
For more information on current industry shifts, visit the Television section.
Source note: This article includes information reported by The Hollywood Reporter.
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