Global media giant Canal+ has committed to invest €980 million (approximately R19-billion) in French and European cinema over the next five years under what has been described as an unprecedented long-term agreement with the country’s film industry.
The group owns businesses across television, film production, streaming and content distribution, including MultiChoice Group in Africa, Studio and Dailymotion.
Five-year agreement, first of its kind
The investment, which will begin in 2028, forms part of a new five-year agreement between Canal+, Ciné+ OCS and leading French film industry organisations. It is the first agreement of its kind to run for five years and is aimed at providing long-term financial support for film creation while protecting France’s cultural model.
Recently, the French media company also announced that its in-house film studio, StudioCanal, signed a three-year theatrical distribution deal with Sun Africa Group to expand its commercial footprint and release major English-language, animated, and local co-productions in South Africa.
Canal+ chief executive, Maxime Saada said the nearly €1billion investment reinforced the company’s long-standing relationship with the film industry.
“I am delighted with this new agreement, which highlights the longstanding ties between Canal+ and cinema.
“By investing a record amount of nearly 1 billion euros over an unprecedented five-year term, we are proud to reaffirm our support for cinema, its power, creativity, and diversity. The very best of cinema is on Canal+ just six months after its theatrical release and will remain so for many years to come,” said Saada.
Preservation of cinema
Canal+ said the funding would support the production of French and European films while helping ensure that cinema remains at the centre of France’s creative economy.
“Beyond its economic significance, it reaffirms a founding principle of the French cultural exception: cinema is a creative art form that requires a specific approach to funding, support and distribution.
“The signatories thus reaffirm their ambition to preserve a model that guarantees diversity, the plurality of perspectives and aesthetic approaches, new talent and creative styles, and the vitality of the entire sector. This agreement places cinema at its core. Its artistic and economic specificities are taken into account while the status of its author is enhanced,” the company said.
Under the arrangement, Canal+ subscribers will continue to have access to French, European and international films six months after their theatrical release, preserving one of the key features of the French film distribution system.
The parties said the agreement provides a stable framework for authors, directors, producers, distributors and broadcasters, allowing them to continue investing in film production while ensuring audiences have access to a broad range of content.
In addition to the financial commitment, the agreement introduces measures designed to strengthen the film production industry and improve the visibility of movies. It also includes commitments to promote greater diversity in film production and distribution.
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- Canal+ will invest €980 million (~R19 billion) in French and European cinema over five years, starting in 2028, under a historic long-term agreement.
- The deal involves Canal+, Ciné+, OCS, and French film industry groups, aiming to support film creation and protect France’s cultural model.
- Canal+ CEO Maxime Saada emphasized the investment’s role in sustaining cinema’s creativity, diversity, and its presence on Canal+ six months post-theatrical release.
- The agreement ensures continued subscriber access to French, European, and international films after theatrical release and supports economic and artistic aspects of cinema.
- Additional provisions include measures to strengthen film production, enhance movie visibility, and promote diversity in film production and distribution.
Global media giant Canal+ has committed to invest €980 million (approximately R19-billion) in French and European cinema over the next five years under what has been described as an unprecedented long-term agreement with the country’s film industry.
Recently, the French media company also announced that its in-house film studio, StudioCanal, signed a three-year theatrical distribution deal with Sun Africa Group to expand its commercial footprint and release major
Canal+ chief executive, Maxime Saada said the nearly €1billion investment reinforced the company's long-standing relationship with the film industry.
“I am delighted with this new agreement, which highlights the longstanding ties between Canal+ and cinema.
“By investing a record amount of nearly 1 billion euros over an unprecedented five-year term, we are proud to reaffirm our support for cinema, its power, creativity, and diversity.
Canal+ said the funding would support the production of French and European films while helping ensure that cinema remains at the centre of France's creative economy.
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In addition to the financial commitment, the agreement introduces measures designed to strengthen the film production industry and improve the visibility of movies. It also includes commitments to promote greater diversity in film production and distribution.
ALSO READ: Canal+ targets lower Dstv subscriptions through bundled streaming
