Canal+ SA shares have dropped by more than 16% after the French pay‑TV group reported a continued decline in MultiChoice’s subscriber base and profitability. Revenue fell by 6%, to roughly $2.8 billion for the year ending December 31, 2025.

MultiChoice has faced mounting pressure from tough economic conditions across the continent, which have reduced household spending, as well as rising competition from global and regional streaming platforms. The company also announced that it will shut down its over‑the‑top platform, Showmax, citing high operating costs and prolonged underperformance.

Thami Ngubeni spoke to TV and Film Journalist Thinus Ferreira.