During the presentation of its results for 2024, the CANAL+ group provided an update on its activities in Africa.
Since the CANAL+ group was listed on the London Stock Exchange, the number of subscribers specifically in Africa is no longer published. The group has announced a total number of subscribers in Africa and Asia of approximately 9.7 million at the end of 2024, with revenue of €1.04 billion.
Of these 9.7 million, Africa accounts for the largest share, with the number of African subscribers already peaking at 8,091,000 by the end of 2023. Assuming a similar increase to that seen between 2022 and 2023, we can estimate that the number of subscribers in Africa will be between 8.5 and 8.6 million by the end of 2024.
According to David Mignot, CEO of Canal+ Africa, "Africa is by far the greatest growth opportunity for pay TV in the coming decades. We have built a leading position in French-speaking markets and we are eager to join forces with MultiChoice, the leader in pay TV in English- and Portuguese-speaking markets."
These growth prospects should be supported by several long-term trends: strong demographic growth, sustained economic growth, increasing electrification, and continued broadband penetration.
CANAL+ has been operating in Africa for over 30 years. Present in 20 countries across the continent, it is the leading pay-TV operator in 19 French-speaking territories. It offers nearly 400 channels and has a distribution network of over 17,000 points of sale.
Today, the group already holds 45.2% of Multichoice's capital, which has nearly 15.7 million subscribers and for which it has filed a mandatory takeover bid. The takeover bid for MultiChoice Group is subject to several conditions precedent, including obtaining approval from the South African competition authorities.
Once the transaction is finalized (no later than October 8, 2025), the combination of the two groups would create an African media and entertainment giant, offering consumers attractive local content and sports content.
In addition, the CANAL+ Group has signed an agreement with Vivendi to acquire GVA, a pan-African telecommunications operator specializing in ultra-high-speed Internet distribution in eight countries (Gabon, Congo, Ivory Coast, Togo, Rwanda, Burkina Faso, Democratic Republic of Congo (DRC), and Uganda).
In addition, in the field of production, Thema relies on its production companies, Rok in Nigeria and Zacu in Rwanda, and on its minority stake in Marodi in Senegal. These companies mainly produce television series.
Thema also manages 23 channels in 10 different languages and supports the Group's activities in Africa, notably by distributing and selling African productions and co-productions.