In September 2025, CANAL+ Group, the French media company, took control of MultiChoice, inheriting Africa’s largest pay-TV operator at a time when the business was under pressure. Years of subscriber losses, weak consumer spending and rising competition from streaming platforms had raised questions about whether the owner of DStv, Africa’s biggest pay-TV service, could return to growth.

Ten months later, CANAL+ says the first signs of a turnaround are emerging.

In half-year results released on Tuesday, the company said South Africa recorded its strongest month for new subscriber acquisitions in a decade in June 2026. Subscriber acquisition across MultiChoice markets rose 40% year-on-year, while MultiChoice’s adjusted operating profit increased 160% to €143 million ($162.6 million), supported by lower decoder prices, a wider sales network and early merger synergies.

The results are the clearest evidence yet that CANAL+’s turnaround strategy is taking hold. The company now faces the task of proving that traditional pay television can remain competitive as consumers compare the cost of premium TV with streaming services such as Netflix, Amazon Prime Video and YouTube.

“Our strong first-half results reflect our strategic progress,” said Maxime Saada, CANAL+ Group chief executive officer (CEO). “In Africa, we have grown our combined subscriber base by 7%, and as part of the MultiChoice turnaround plan we reduced entry costs for new subscribers and expanded our sales network. In South Africa, we delivered a standout month in June, with the highest new subscriber uptake in a decade.”

CANAL+ built its position in MultiChoice through a steady accumulation of shares before completing the acquisition. The French broadcaster had argued that combining the two businesses would give MultiChoice access to greater financial resources, a larger content library and the scale needed to compete in a fast-changing television market, where viewers increasingly weigh bundled television against low-friction streaming alternatives.

The first phase of that strategy appears focused on making DStv more affordable.

CANAL+ has cut decoder prices for new subscribers by as much as 40%, reducing one of the biggest barriers to joining the platform. In many African markets, consumers still need to buy a decoder and installation equipment before paying a monthly subscription, unlike streaming services, which generally require only an internet connection and a compatible device.

The company said it has also expanded its distribution network, increasing its number of points of sale by more than 15% since March. CANAL+ said the move reflects its view that physical retail remains an important customer acquisition channel across many African markets.

According to Saada, content is the second pillar of the turnaround. “We secured long-term rights to the most watched sports competition, the (English) Premier Soccer League,” he said.

Rather than trying to outspend streaming rivals on entertainment libraries, CANAL+ said it is concentrating on live sport, one of the few categories that consistently attracts paying audiences. During the first half, the company secured long-term rights to South Africa’s Premier Soccer League, as well as the 2027 Men’s Rugby World Cup and the 2029 Women’s Rugby World Cup across sub-Saharan Africa.

The strategy reinforces DStv’s main competitive advantage over global streaming services, whose catalogues are dominated by films and television series rather than live sports.

The results also showed a major shift in MultiChoice’s streaming ambitions. CANAL+ confirmed that Showmax was discontinued as a standalone business in April 2026, with its financial contribution now treated as a discontinued operation.

The company gave little detail about its future streaming plans, but the decision suggests a stronger focus on profitability after years of investment in the platform. It also highlights the difficulty regional streaming services face in competing with global players that have deeper pockets and larger subscriber bases.

The integration is also beginning to deliver the financial benefits CANAL+ promised investors. The company said it has already achieved roughly half of its €250 million ($284.3 million) annual synergy target, with MultiChoice contributing €120 million ($136.5 million) in profit improvements during the first half.

“Following the acquisition of MultiChoice, our increased scale is starting to deliver the benefits we expected,” Saada said.

CANAL+, however, cautioned that some of the first-half improvement reflected seasonal factors, including the timing of content costs and deferred payments. The real test will come over the next few quarters, when the company will need to show that subscriber growth and profitability can be sustained without one-off benefits.