Data: Can Canal+ challenge the major streamers?
December 17, 2024

Canal+, after breaking from its parent company Vivendi, has debuted on the London Stock Exchange as it positions itself as a significant European streaming player, ready to challenge Netflix, Disney+ and Prime Video on a global stage.
But can Canal+ close the gap?
Recent trends from Kantar’s Entertainment on Demand data reveal a shifting streaming landscape shaped by:
- AVoD Is on the Rise:
- AVoD penetration grew from 12 per cent in Q3 2023 to 38 per cent in Q3 2024, marking a significant industry shift.
- Platforms like Prime Video forced existing subscribers into ad-tier models, and while initially unpopular, Prime has recovered – a sign that consumers are adapting.
- What this means for Canal+: Canal+ could leverage ad-tiers as a growth strategy to attract cost-conscious audiences, particularly in emerging markets like Africa and Asia.
- The Hygiene Subscription Effect:
- Disney+ and Netflix maintain dominance as ‘hygiene subscriptions’, viewed as essentials for most households:
- Disney+ saw 18.7 per cent of new subscriber additions this year, driven by strong partnerships (Tesco Clubcards, Lloyds Bank, Lidl).
- Netflix leads the ‘Most Enjoyed Content’ list with Fool Me Once, Baby Reindeer and Bridgerton, solidifying its reputation for discovery and premium content.
- What this means for Canal+: To compete, Canal+ will need to drive engagement through StudioCanal franchises (Paddington, Bridget Jones) and global acquisitions (MultiChoice, Viu).
- Disney+ and Netflix maintain dominance as ‘hygiene subscriptions’, viewed as essentials for most households:
- Regional Content and Cultural Shifts:
- Viewing habits are diverging between US and UK audiences. While mainstream shows once aligned across regions, the US is seeing growing demand for culturally specific content, influenced by rising minority audiences (Hispanic and Asian).
- Disruptors like Tubi have capitalised on this, gaining traction among Hispanic audiences in the US.
- What this means for Canal+: Its investment in Africa (MultiChoice) and Asia (Viu) positions it to meet regional content demand and compete locally against Netflix and Disney+.
- Cord-Cutting and Seasonal Trends:
- Q1 typically sees a subscription cull after the holidays, as short-term subscriptions like Amazon Prime for Black Friday or Christmas shopping expire.
- What this means for Canal+: The holiday season is a critical time to drive engagement and retention, particularly with family-friendly content and bundled offerings.
- London Listing—A Boost Amid Market Challenges:
- The listing offers a rare win for the London Stock Exchange, which has faced its worst year for departures since the financial crisis.
- Canal+’s expansion strategy and focus on emerging markets may set a new blueprint for European media companies looking to scale globally.
Canal+’s debut on the London Dtock Exchange on December 16th proved somewhat disappointing. Shares fell by 16 per cent from an opening price of 290p to 244.2p before midday.
“From our roots in France, Canal+ has become one of the world’s leading integrated media companies. Thanks to the unique talent of our teams, we offer the best entertainment content to our 26.8 million subscribers across Europe, Africa, and Asia. As a truly international company, we are proud to be listing on the London Stock Exchange,” commented Maxime Saada CEO of Canal+. “With a growing presence in high-growth markets and transformational potential acquisitions like MultiChoice in Africa. I am proud to lead Canal+ into its next chapter and would like to thank each and every member of our team who has made today possible.”