Here’s a bold statement: the future of cinema isn’t just about streaming—it’s about strategic partnerships and a deep-rooted commitment to the art itself. And Canal+ is proving just that. But here’s where it gets controversial: while many media giants are pivoting solely to digital platforms, Canal+ is doubling down on traditional cinema, sparking debates about whether this is a nostalgic gamble or a visionary move. Let’s dive in.
Led by CEO Maxime Saada, Canal+ Group recently made waves by signing a deal to acquire a 34 percent minority stake in UGC, one of France’s largest cinema chains. This isn’t just a business transaction—it’s a statement. The deal includes an option for Canal+ to take full control of UGC by 2028, solidifying its position as a powerhouse in both film production and distribution. And this is the part most people miss: UGC isn’t just about theaters; it also owns a high-quality content library and intellectual property (IP) that will significantly expand Studiocanal’s already impressive catalog of over 9,400 titles. This move isn’t just about screens—it’s about storytelling.
Speaking of storytelling, Canal+ highlighted the success of I Swear, a critically acclaimed dramedy directed by Kirk Jones. The film, which stars Robert Aramayo and features Maxine Peake, Shirley Henderson, and Peter Mullan, is currently dominating the U.K. box office. It’s not just a hit—it’s a record-breaker, earning the highest audience ratings in U.K. cinema history. This isn’t just a win for Canal+; it’s a testament to the power of cinema to connect with audiences on a profound level.
But let’s zoom out for a moment. Canal+ ended 2024 with 26.9 million subscribers and a clear vision: an active mergers and acquisitions (M&A) strategy. This strategy isn’t just about growth—it’s about diversification. Earlier, the company acquired a controlling stake in MultiChoice, Africa’s pay-TV giant, and integration efforts are already underway. Here’s the controversial question: Is Canal+ spreading itself too thin, or is this the kind of bold expansion needed to thrive in a fragmented media landscape? Let us know what you think in the comments.
Financially, Canal+ is on solid ground. Revenue for the first nine months of 2025 hit €4.61 billion, a 1.2 percent organic increase. And with plans for a secondary listing of Canal+ shares in Johannesburg—in addition to its primary listing in London—the company is clearly aiming for global dominance. As Saada puts it, ‘With 40 million customers across 70 countries, we now have true scale.’
What’s truly fascinating is Canal+’s ‘super-aggregation strategy.’ Instead of viewing subscription video-on-demand (SVOD) platforms as threats, Canal+ sees them as opportunities. Saada likens this approach to judo, using the strength of competitors to their advantage. But here’s the counterpoint: In a world where streaming giants like Netflix and Disney+ dominate, can traditional cinema and pay-TV models really hold their ground? Or is Canal+ simply buying time before the inevitable shift to digital?
One thing’s for sure: Canal+ isn’t just playing the game—it’s rewriting the rules. Whether you agree with their strategy or not, there’s no denying their commitment to cinema and their ambition to shape the future of media. So, what do you think? Is Canal+ onto something, or are they fighting a losing battle? Let’s spark a conversation in the comments below!
