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MultiChoice Revenue Falls 3% in Nine Months

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SOUTH AFRICA · BUSINESS

Key Facts

—The country South Africa is Africa’s most developed economy, home to about 63 million people, and the base of MultiChoice, the continent’s largest pay-TV operator.
—What happened On Thursday 22 October 2026, Canal+ of France said MultiChoice revenue fell 3.0% like for like in nine months.
—The numbers MultiChoice brought in €1.805 billion (about US$2.02 billion) in nine months, held back by lower South African subscription income.
—The trend The like-for-like decline eased to 2.0% in the third quarter, from 3.4% in the first half of 2026.
—The reset In South Africa, DStv replaced its older tiers on Thursday 17 September 2026 with Starter, Select, Sports, Movies & Series and Premium.
—Next in Nigeria MultiChoice Nigeria plans to unveil new DStv and GOtv packages on Tuesday 27 October 2026, BusinessDay reported.
—Still open Canal+ gave no subscriber count for MultiChoice, so the effect of the new South African packages is not yet visible.

MultiChoice revenue fell 3.0% like for like in the first nine months of 2026, its French parent Canal+ said on Thursday 22 October. MultiChoice owns the DStv and GOtv pay-TV brands, and the decline slowed to 2.0% in the third quarter, from 3.4% in the first half.

The update lands as MultiChoice rewrites its DStv and GOtv offers while global streaming services pull viewers online. MultiChoice Nigeria is due to show its new bundles on Tuesday 27 October, BusinessDay reported on Friday 23 October.

What Canal+ Reported on 22 October

Canal+ is the French pay-TV and film group that took over MultiChoice, and its shares trade in London and Johannesburg. MultiChoice revenue was €1.805 billion (about US$2.02 billion) for nine months, up 0.4% restated but down 3.0% like for like.

Canal+ blamed the fall in MultiChoice revenue on lower South African subscriptions, partly offset by higher revenue in most other English-speaking markets. The third-quarter decline of 2.0% was helped partly by easier comparisons on sporting events, the group said.

Where MultiChoice Sits Inside the Group

Canal+ group revenue rose 37.5% to €6.412 billion (about US$7.19 billion) in nine months, mostly because MultiChoice is now counted. Like for like, group revenue slipped 0.3%, and without MultiChoice it grew 0.8%.

Its Africa and Asia division, which includes MultiChoice, earned €2.604 billion (about US$2.92 billion) in nine months. Without MultiChoice, that division grew 10.2% like for like, so MultiChoice is the drag.

How DStv Is Rewriting Its Playbook

On 17 September 2026 DStv swapped its old South African tiers for Starter, Select and Sports, plus Movies & Series at R500 (about US$30) a month. The Rio Times covered the change in South Africa’s Biggest Pay-TV Service Revamps Packages to Win Back Viewers.

Canal+ chief executive Maxime Saada said the line-up gives subscribers “more content, greater choice and better value for the same price”. The relaunch came two weeks before the quarter ended, so its effect is largely absent from MultiChoice revenue so far.

Sandstone court building with columns and a dome on Von Brandis Street in central Johannesburg, with a statue and office towers behind

Cheaper Deals and Free Upgrades

MultiChoice now sells DStv Premium at R799 (about US$48) a month on a 24-month contract, against R979 (about US$59) month to month, MyBroadband reported. MultiChoice told MyBroadband that its older price-lock contracts were taken off its website in July.

From Monday 26 October, Starter customers move to Select and Movies & Series customers get Premium, each for seven days at no cost, MultiChoice said. The offer is automatic for eligible monthly subscribers on a decoder or on DStv Stream, the streaming version of the service.

Nigeria Waits for Its Own Version

BusinessDay reported on 23 October that MultiChoice Nigeria will unveil new DStv and GOtv packages on Tuesday 27 October. GOtv is the cheaper entry service, while DStv remains the home of premium football.

The paper cautioned that South Africa’s structure may not carry over, since the two markets differ in prices, incomes and tastes. No Nigerian prices have been announced.

Sport and Streaming Pull in Opposite Directions

Canal+ won exclusive rights to all UEFA men’s club competitions in more than 40 countries for 2027 to 2031. It also won rights across Africa to the 2027 Africa Cup of Nations and its qualifiers, a bet that live football will protect MultiChoice revenue.

Showmax, MultiChoice’s own streaming app, closed in Africa at the end of April 2026. Canal+ treats it as a discontinued operation, and it had earned €33 million (about US$37 million) in the first nine months of 2025.

What It Means for US Readers

Americans who follow African media get a clear read on how global streaming services are squeezing a satellite incumbent that a European group bought. Canal+ shares trade in London and Johannesburg, so US investors reach the story through foreign listings and funds.

US streaming companies compete for the same African viewers that MultiChoice is trying to keep. Canal+ guides to €735 million (about US$824 million) in adjusted operating profit for 2026 and says it is well on track.

What Is Not Known

Canal+ gave no subscriber number for MultiChoice and said only that the base had normalised after a World Cup boost in the first half. It has not said how many customers have switched to the new South African packages.

Nigerian bundle prices and contents will only be known after the 27 October launch. Canal+ also challenges a French budget plan to raise its VAT rate, which it says would lift subscription prices.

More: South Africa news in English, every day from The Rio Times.