Canal+ says 'Paddington 4' is in works, as it locks down French streaming advantage

Canal+ 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.