Canal+ “Making Progress” In Opposing French VAT Hike, Per Q3 Outcomes

Canal+ has “made progress” in opposing a controversial proposal in France that might double the VAT charge on TV subscriptions from 10% to twenty%.

Delivering a Q3 buying and selling replace, the French main stated it has help from “cinema organisations, federations and leagues” and can proceed combating the speed improve tooth and nail.

“The Group has made progress in opposing the proposal, though the end result stays unsure,” Canal+ stated. “Ought to the proposal be adopted into regulation, the Group intends to implement subscription worth will increase and important value discount initiatives to mitigate the ensuing monetary influence.”

Information of the deliberate French VAT hike emerged earlier this month in a draft finances plan introduced by Emmanuel Macron’s Prime Minister Sébastien Lecornu, though rumors had been circulating for a while. Together with the subs improve, Canal+ has stated it “can be unable to soak up such a loss in France and would consequently be pressured to regulate its operations in mainland France and the Abroad Territories.”

For Q3 2026, Canal+ income was nearly flat with the identical quarter final yr at simply over €2B ($2.25) when the $2B acquisition of African large MultiChoice was taken under consideration. Group income for the primary 9 months of this yr was up 37% to €6.3B, with the MultiChoice deal a significant component.

The corporate has sought to considerably cut back prices in Africa for the reason that buyout, with streamer Showmax discontinued earlier this yr in a transfer that shocked the native business. The rollout of the brand new MultiChoice provide will proceed throughout English and Portuguese-speaking Africa over the approaching months, Canal+ stated.

Regardless of the proposed VAT hike, Canal+ stated it’s “nicely on observe” to attain its full-year steering together with a lofty €250m synergies goal.

“Whereas the group is cognisant of the macroeconomic and political backdrop, its medium-term steering stays unchanged,” added the outcomes.

Income within the content material division was up 8% to €173M and Canal+ boss Maxime Saada talked up a “landmark” 2026 for Studiocanal, citing Anthony Maras conflict drama Strain and Fred Cavayé’s current adaptation of Les Misérables starring Vincent Lindon and Tahar Rahim. There may be additionally the upcoming Elsinore starring Andrew Scott, which is being touted for Oscars.

Saada added: “We delivered a stable efficiency within the first 9 months of the yr as we continued to execute our technique. Income was in step with our expectations, supported by robust momentumin French-speaking Africa and at Studiocanal.”

He stated the corporate is “making good progress with the MultiChoice turnaround plan.”