The World Cup Effect: How One Tournament Reshaped a Media Giant’s Future

The recent financial results of Canal+ Group, a French media conglomerate, have left many in the industry impressed by the company’s remarkable growth. A closer examination reveals that the 2026 FIFA World Cup has been a game-changer for the company’s South African business, with subscriber numbers soaring to unprecedented heights.

Canal+ CEO Maxime Saada attributes the company’s achievements to its strategic acquisition of Africa’s MultiChoice Group, which cost $2 billion. However, there is more to this story than meets the eye. The 2026 FIFA World Cup, held in Qatar, has proven to be a catalyst for growth not just for Canal+ but also for other media companies seeking to tap into the global audience that soccer draws.

Subscriber acquisition in MultiChoice countries is up by an astonishing 40 percent compared to the first half of last year. The World Cup’s global reach makes it an attractive platform for advertisers and viewers alike. Media companies like Canal+ are capitalizing on this trend by offering exclusive content, promotions, and partnerships that appeal to a broader audience.

The growing demand for streaming services is driving the industry’s shift towards online content production and distribution. StudioCanal, part of Canal+, has seen its box-office hits in France and the U.S. boost revenue by 9.9 percent in the first half. This trend can be observed across the board: Dailymotion, a streaming service owned by Canal+, is likely benefiting from the increased demand for online content.

However, this growth comes at a time when many media companies are struggling to adapt to changing consumer behavior. For Canal+, the acquisition of MultiChoice Group has not only delivered expected benefits but also paved the way for further expansion into new markets. The deal provided access to a vast and established customer base in Africa and opened doors to partnerships with local businesses and content producers.

Analysts, such as Nicolas Langlet from BNP Paribas, are optimistic about the momentum at MultiChoice, predicting that subscriber numbers will improve in the second half of the year and drive positive organic sales momentum exiting 2026. However, there are also signs that the market may be getting ahead of itself. Canal+‘s revenue has jumped by 40 percent to €4.29 billion ($4.88 billion), but its adjusted earnings before interest and taxes (EBIT) have dropped by 3 percent in the first half.

This raises questions about the long-term sustainability of this growth. As the demand for streaming services continues to grow, companies like Canal+ will be at the forefront of innovation, driving new content and distribution strategies that cater to an increasingly global audience. However, challenges on the horizon include regulatory pressures and increased competition for viewers’ attention. One thing is certain – Canal+ will need to stay agile if it wants to maintain its momentum and keep pace with a rapidly changing market.