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A performer wearing a Paddington Bear costume poses for photographers in front of St Paul's Cathedral in London, Britain, May 30, 2018. REUTERS/Simon Dawson/File Photo
A performer wearing a Paddington Bear costume poses for photographers in front of St Paul's Cathedral in London, Britain, May 30, 2018. REUTERS/Simon Dawson/File Photo
A Logo of the French TV channel Canal+ in front of the Canal+ ONE headquarters of the Canal+ Group in Issy-Les-Moulineaux near Paris, France, February 20, 2025. REUTERS/Abdul Saboor
A Logo of the French TV channel Canal+ in front of the Canal+ ONE headquarters of the Canal+ Group in Issy-Les-Moulineaux near Paris, France, February 20, 2025. REUTERS/Abdul Saboor
Maxime Saada, Chairman and Chief Executive Officer of the Canal+ Group, reacts before a hearing by the Commission of Inquiry on the neutrality, operation and financing of French public broadcasting, at the National Assembly in Paris, France, April 1, 2026. REUTERS/Sarah Meyssonnier
Maxime Saada, Chairman and Chief Executive Officer of the Canal+ Group, reacts before a hearing by the Commission of Inquiry on the neutrality, operation and financing of French public broadcasting, at the National Assembly in Paris, France, April 1, 2026. REUTERS/Sarah Meyssonnier
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Canal+ says 'Paddington 4' is in works, as it locks down French streaming advantage

July 28th, 2026 | 09:41 AM BUSINESS Media & Telecom 2

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By Leo Marchandon

Canal+ (CAN.L) CEO Maxime Saada said on Tuesday that a fourth live-action Paddington film was in development with A-list ​talent, adding fresh momentum to one of StudioCanal's biggest ‌international franchises.

The pay-TV provider will also be the first to bring "Paddington 4" to the small screen in France, just six months after a theatrical release. ​It renewed its agreement with French cinema organisations until 2032 ​on Monday, committing to investments in return for early access ⁠to new releases.

The group did not disclose the film's release ​date or distribution plans.

Canal+ will invest about €1 billion ($1.2 billion) in French ​and European cinema over five years starting from 2028. In return, it is granted privileged access to new theatrical releases under France's media laws, both ​for its own films and acquired content — an advantage as global ​streaming services compete for subscribers.

"When we buy and we have deals with Universal, ‌Warner, ⁠Paramount ... all of these movies are available on the Canal+ platform in France six months after release. When Netflix has a deal with Universal, they have to wait until 15 months to ​broadcast the movie (in ​France)," Saada told ⁠Reuters.

To secure the right to early releases, Canal+ is required to invest about €140 million a year, ​Saada said. "So we committed to spending an extra €50 million ​a ⁠year, approximately."

The investment is only one part of the group's much larger content budget. Canal+ spent €2.25 billion in content costs in the first ⁠half ​of 2026 alone, across films, television and ​sport in its international markets.

France generated €1.77 billion of its first-half revenue, making it Canal+'s biggest ​individual market.

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