Canal+ Doubles Down on AI, Forges New Drama Partnership Amidst Streaming Restructuring
Paris-based media giant Canal+ is making significant moves to integrate artificial intelligence into its operations and bolster its content offerings, announcing multi-year partnerships with Google Cloud, and OpenAI. These strategic alliances, unveiled alongside the company’s full-year 2025 results, signal a commitment to innovation and profitability as Canal+ navigates a rapidly evolving media landscape. Simultaneously, the company is strengthening its English-language drama ambitions through a new partnership with Sky, aiming to develop globally successful intellectual property. These developments approach as Canal+ works to turn around its recent acquisition of MultiChoice and addresses the challenges of the streaming market, including the recent shuttering of its Showmax platform.
The move towards AI integration isn’t merely exploratory; Canal+ is actively implementing these technologies to enhance user experience and unlock creative potential. Starting in June, the Canal+ app will receive a major overhaul powered by OpenAI, focusing on improving content search and discovery. This aims to deliver a more intuitive and personalized experience for subscribers. Alongside this, a multi-year partnership with Google Cloud will see the deployment of the latest generative AI technologies across European and African markets where the Canal+ app is available. This collaboration will focus on content video indexing, promising a “tailor-made entertainment experience,” according to company officials.
AI-Powered Innovation: From Content Indexing to Historical Recreation
The partnership with Google Cloud extends beyond simple content organization. Canal+ will leverage Google’s new genAI video technology, Veo3, to explore new creative avenues. The company highlighted the potential to “recreate historical moments from a single archival photo,” demonstrating the technology’s ability to unlock new possibilities for content creators. This application of AI underscores a broader industry trend, as major players like Disney are likewise investing heavily in generative AI video technology. In December 2025, Disney announced a $1 billion investment in OpenAI and granted access to characters from Frozen and Star Wars for use with the Sora generative AI video app as reported by Deadline. Banijay, following a recent merger with All3Media, has also been vocal about its growing AI capabilities according to Deadline.
Stéphane Baumie, Chief Technology Officer at Canal+, emphasized the strategic importance of the Google Cloud partnership. “We are pleased to leverage Google Cloud’s most advanced AI technologies to drive Canal+’s technical innovation,” Baumie stated. “Building on a long-standing collaboration with Google, this strategic partnership paves the way for limitless possibilities. Content video indexing for Canal+ at scale gives the group a significant edge, notably by enabling us to deliver sharper discovery and truly enhanced personalized journeys on the Canal+ App across all our markets. Creativity is the cornerstone of Canal+’s content production.”
Expanding Drama Production with Sky
Alongside the AI initiatives, Canal+ is strengthening its focus on English-language drama through a new partnership with Sky. CEO Maxime Saada described the collaboration as an “ambitious new partnership” designed to develop compelling English-speaking content. The agreement will see Sky and Canal+ jointly develop at least two projects per year over an initial three-year term, with production potentially handled by Studiocanal, Canal+’s production arm. The two companies have previously collaborated on the successful series Django, starring Matthias Schoenaerts. Studiocanal recently appointed Sky Studios executive Paul Gilbert as its senior vice-president of English-language series, signaling a clear commitment to this expansion.
Financial Performance and Strategic Shifts
These announcements were made in conjunction with Canal+’s full-year 2025 financial results. Overall group revenue decreased by 2.5% to €6.28 billion (approximately $8.43 billion USD based on current exchange rates), although organic growth was slightly positive. Adjusted EBIT increased by nearly 5% to €527 million, and the EBIT margin improved by 6 percentage points to 8.4%. However, revenue within the content, production, distribution, and “other” division experienced a significant 42% decline, falling to €775 million. Canal+ attributed this drop to a particularly strong 2024, which included successful releases like Paddington in Peru, the Amy Winehouse biopic Back to Black, and the television series Paris Has Fallen.
A significant aspect of Canal+’s strategic shift involves addressing challenges within its streaming services. The company recently completed its acquisition of MultiChoice and, crucially, has shut down its streaming platform, Showmax. Canal+ leadership has openly described Showmax as an “expensive failure,” acknowledging that MultiChoice had faced difficulties, including currency devaluation in Nigeria and rising inflation impacting content costs. Looking ahead, Canal+ aims to revitalize MultiChoice and capitalize on growth opportunities in Africa through a “boost plan” and accelerated synergy delivery. Planned synergies are now projected to reach €250 million by 2026, with the discontinuation of Showmax contributing to these savings.
Canal+ first listed on the London Stock Exchange in late 2024. While shares had been gradually increasing in value, they experienced a nearly 20% decline on the day of the results announcement, reflecting investor reaction to the financial figures and strategic changes.
Key Takeaways
- AI Integration: Canal+ is aggressively integrating AI through partnerships with Google Cloud and OpenAI to enhance content discovery and unlock creative possibilities.
- Drama Expansion: A new partnership with Sky aims to bolster Canal+’s English-language drama production, targeting global audiences.
- Streaming Restructuring: The closure of Showmax signifies a strategic shift, with Canal+ focusing on turning around MultiChoice and capitalizing on African market growth.
- Financial Performance: While overall group profit improved, revenue in the content division declined, highlighting the challenges in the current media landscape.
The company will continue to focus on synergy realization and the turnaround of MultiChoice in the coming year. Investors will be closely watching the progress of these initiatives, particularly the impact of AI integration on subscriber engagement and content creation. The next major update on Canal+’s performance is expected with the release of its second-quarter 2026 financial results, scheduled for late July.
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