Canal+ Shares Exciting Updates on Google AI Partnership and New Sky English-Language Drama Deal
Canal+ Partners with Google, OpenAI, and Sky Amid Annual Results Announcement
Canal+ has announced significant partnerships with Google, OpenAI, and Sky, focusing on artificial intelligence and English-language drama. This news comes as the French media company released its first full-year results since its listing on the London Stock Exchange.
The multi-year agreement with Google Cloud aims to enhance Canal+’s app with an array of updates set to roll out later this year. The partnership is designed to "accelerate the content video indexing of its extensive content library," facilitating smarter, personalized content recommendations. Canal+ will also utilize Google’s generative AI video technology, Veo3, which the company claims enables "creative unlocking" of talent and producers by reimagining historical moments from archival images.
Canal+’s move toward AI comes as major industry players seek effective collaboration with leading artificial intelligence firms. The company’s partnership with OpenAI is centered on improving the app’s personalization features. This follows a significant deal between Disney and OpenAI, wherein Disney invested $1 billion in OpenAI and allowed the use of characters from franchises such as Frozen and Star Wars in generative AI applications. Additionally, Banijay has recently highlighted its AI capabilities following its merger with All3Media.
Stéphane Baumie, Chief Technology Officer at Canal+, expressed enthusiasm about the partnership with Google, stating, "We are pleased to leverage Google Cloud’s most advanced AI technologies to drive Canal+’s technical innovation. This strategic partnership paves the way for limitless possibilities." He underscored the advantage of the content video indexing, enhancing user experience across all markets.
In another significant development, Canal+ has formed a partnership with Sky to produce English-language dramas. CEO Maxime Saada referred to this collaboration as an "ambitious new partnership" set to yield multiple projects annually over an initial three-year period, potentially created through its production subsidiary, Studiocanal. The two firms previously collaborated on shows such as Django, featuring Matthias Schoenaerts.
On the day of these announcements, Canal+ revealed its annual financial results. The company reported a 2.5% decrease in overall group revenue to €6.28 billion ($8.43 billion), although organic growth saw a slight uptick. Adjusted EBIT increased nearly 5% to €527 million, with EBIT margin improving by 6 percentage points to 8.4%. However, revenue in the content, production, and distribution sector dropped 42% to €775 million, attributed to a particularly strong 2024 featuring titles like Paddington in Peru and the Amy Winehouse biopic Back to Black.
Additionally, Canal+ has concluded its acquisition of MultiChoice and announced the closure of its streaming service, Showmax, labeling it an "expensive failure." The report indicated that MultiChoice has faced recent challenges, including currency devaluation in Nigeria and high inflation impacting content costs. Looking ahead, Canal+ aims to revitalize MultiChoice and capitalize on growth opportunities across Africa with a new strategic plan.
The anticipated synergies from this plan have increased to €250 million for 2026, with the discontinuation of Showmax contributing to these savings. Canal+ shares, which had shown steady growth since its market debut in late 2024, experienced a nearly 20% decline following the results release.
