Observed Signal · Jan 12, 2026 · Partnership · Source: State of Streaming · Impact: 3/5 · Sentiment: Positive
WBD Locks Canal+ Deal, Expands HBO Max in Europe
Warner Bros. Discovery (WBD) and French broadcaster Canal+ signed a new multi-year, multi-territory distribution agreement that brings HBO Max to Austria and Belgium and renews key channel and content windows across Central and Eastern Europe, France and Africa. The deal keeps a dozen WBD channels on Africa’s MultiChoice platform (which Canal+ acquired in 2025) and preserves an exclusive French pay-TV window for Warner Bros. films. The pact strengthens Canal+’s role as a major aggregator for premium streaming content ahead of Netflix’s pending acquisition of WBD and amid a reported hostile takeover bid from Paramount. HBO Max is scheduled for a broader European rollout on January 13 and WBD aims to reach at least 150 million global subscribers by the end of 2026.
The deal materially expands HBO Max’s European distribution and preserves premium content windows via a major regional aggregator (Canal+), affecting streaming reach, distribution leverage and potential ad/inventory dynamics in CTV/OTT markets.
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Key Takeaways & Evidence Grounding
- Warner Bros. Discovery and Canal+ signed a multi-year, multi-territory agreement to expand HBO Max distribution.
- The agreement brings HBO Max to Austria and Belgium for the first time and renews distribution in Central and Eastern Europe.
- The deal keeps around a dozen WBD channels on Africa’s MultiChoice platform; Canal+ acquired MultiChoice in 2025.
- For France, the agreement renews the exclusive pay‑TV window for Warner Bros. films; HBO Max’s wider European rollout was scheduled for January 13, 2026.
Connected Companies & Entities
8 Entities mappedRelated Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Netflix-WBD Tie-Up: European Impact
Netflix has agreed to acquire Warner Bros. Discovery's studios and streaming division following WBD's planned corporate split. In Europe, the deal would place Netflix alongside WB's vast IP library, while WBD's non-streaming assets—linear channels outside HBO and Discovery+—will remain with the other company and not be sold to Netflix. HBO Max is expanding in Europe, with launches already in France, the Netherlands, and the Nordics and a planned UK, German, and Italian rollout in early 2026. Netflix executives say WBD's licensing business will endure, and Netflix Studios will continue its model of producing primarily for Netflix, with Warner Bros. Television continuing to license content to third parties. The move could alter European content licensing dynamics and create opportunities for local studios, depending on how content rights and spend are managed across Europe.
WBD Pushes Global Streaming Bundles After HBO Max Rollout
Warner Bros. Discovery (WBD) outlined global expansion and bundling strategies during its Q1 earnings call following the international rollout of HBO Max and shareholders' approval of a sale to Paramount Skydance. CEO David Zaslav said combining HBO Max with Paramount’s streaming services will improve the consumer experience amid rising app choice, while streaming chief JB Perrette highlighted bundle partnerships (including Disney+/Hulu in the US, RTL+ in Germany and Viu in Southeast Asia) as drivers of higher lifetime value and lower churn. Executives also pointed to global scale benefits for WBD’s ads business and reselling US content on HBO Max internationally. Financially, WBD reported $8.9bn in Q1 revenue (down 3% ex-FX year-on-year), ad revenue down 8% YoY, and a $2.9bn loss largely reflecting a $2.8bn termination fee paid to Netflix.
HBO Max Expands into Europe via Amazon Partnership
Warner Bros. Discovery launched HBO Max in eight additional European markets on January 17, 2026, using a distribution partnership with Amazon Prime Video to offer HBO Max as an add-on channel to Prime subscribers. The rollout includes launches in Germany, Italy and Austria and is complemented by local distribution deals such as bundling with RTL+ in Germany and agreements with telecoms (e.g., Swisscom) and Israeli pay-TV operators Hot and Yes. HBO Max aims to attract subscribers with premium content (including the Game of Thrones prequel A Knight of the Seven Kingdoms) and a sports add-on featuring Eurosport coverage and the 2026 Milano Cortina Winter Olympics. The service’s ad-supported tier begins at just under €6/month, and the expansion is positioned to intensify competition with Netflix and Disney+ across European streaming markets.
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