International pay-TV broadcaster Canal Plus increased its organic group revenue by 1.5% during the fiscal first quarter (Q1), although this equates to a 2.5% drop on a reported basis.
Canal Plus brought in €1.54 billion ($1.75 billion) in revenues in Q1, compared to €1.58 billion during the first quarter of 2024.
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The broadcast heavyweight, which holds a range of top-tier sports rights across markets including France, sub-Saharan Africa, and Poland, unveiled its Q1 financial results (covering the three months up to March 31) earlier this week, and said that the reported revenues drop was due to "the termination of various unprofitable contracts in line with the group's focus on profitability and cash generation."
European revenue was up by 0.8% organically but down by 4.5% on a reported basis, while Africa and Asia income dropped by 2.3%. Canal Plus has said this latter drop was partly due to the appeal of the Africa Cup of Nations national team soccer tournament in Q1 2024, meaning there has been a sharp drop-off this year, without that tournament (which is biennial) in place.
Regionally, the company's European revenues came to €1.14 billion, down year-on-year from €1.2 billion, while across Africa and Asia they were €267 million, down from €274 million the prior year.
In France, the broadcaster's home market, Canal Plus' direct-to-consumer revenues grew, while wholesale and sub-licensing income declined "as a result of discontinued contracts and activities." In Poland, meanwhile, revenues also rose.
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By GlobalDataFor the content production and distribution sector, meanwhile, revenue came to €158 million, up 8.2% from Q1 2024.
Maxime Saada, Canal Plus' chief executive, has said: "2024 was a pivotal year … as we achieved several key strategic milestones. In the first quarter of 2025, we continued to build on this momentum, moving towards our goal of becoming a global media and entertainment leader, supported by strong financial discipline."
He added that the downturn in Africa and Asia "merely reflected the exceptional impact on the comparable period the previous year of the hugely popular biennial African Cup of Nations."
In terms of Canal Plus' African activity, the broadcaster is currently working on a deal to acquire sub-Saharan African broadcast group Multichoice. The deadline for that agreement has recently been extended to October 8 this year, giving regulators more time to clear it.
The initial deadline was April 8, with Canal Plus saying last month that it was unlikely to secure regulatory clearance by that point, necessitating an extension.
Saada, in his statement accompanying the results, commented that if the Multichoice deal goes through, it will "significantly strengthen our operations in Africa, putting us in a strong position to unlock the huge untapped potential of the booming African market, and generate significant synergies across Africa and beyond."
Other Q1 activity involved the extension of a strategic partnership with Samsung Electronics in mid-February.
