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Canal+ sees stable revenues in quarter of modest progress

French pay TV operator Canal+ saw its revenues for the quarter to March remain stable year-on-year, dipping by 0.1% on a like-for-like basis to €1.357 billion.

That stability was driven primarily by modest international growth, where the company saw like-for-like revenues rose by 1.6% to €537 million, though they declined in absolute numbers in euro terms.

In France, revenues fell by 2.1% to €739 million.

Canal+ also reported that subscriber satisfaction in France was at its highest level since 2017, according to a study carried out between November and December last year

Production arm Studiocanal had a very positive quarter, with like-for-like revenues rising by 8.9% to €81 million.

Parent Vivendi did not break out subscriber numbers for the pay TV outfit in its latest quarterly financial release. The company pointed to positive initiatives in the quarter including its agreement with the French LFP for Ligue 1 football rights for the current season in the wake of the collapse of the league’s deal with Spanish broadcaster and producer Mediapro. Canal+ now holds rights to all Ligue 1 matches and eight out of 10 Ligue 2 matches until the end of the current season.

The group also won Top 14 Rugby rights again, securing these until the end of the 2026-27 seasons.

Other recent developments include the operator’s deal with Starzplay, whereby the latter will be part of Canal+\s offerings, marking a fresh step in its move towards an aggregation model.

Vivendi recorded strong quarterly growth, driven, as has become customary, by Universal Music Group, which saw revenues jump by 9.4% at constant currency, driven by subscription and streaming.