<p>The launch of Ligue 1+ for the 2025–2026 season marks a major paradigm shift in the industrial economics of French professional football. Faced with the absence of credible bidders during the television rights tender, the Ligue de Football Professionnel (LFP) opted to internalize the broadcasting function, thereby simultaneously becoming the producer and a shareholder of its own content. This strategy, unprecedented in Europe, raises fundamental questions about the sustainability of a self-broadcasting model in a market dominated by the need to balance pricing accessibility and profitability. Despite initial commercial success—surpassing one million subscribers within two months—the cost structure remains unfavorable. Due to a combination of general taxation, specific levies, distributor commissions, and the mandatory participation of the CVC Partners fund (13% of revenues), the LFP retains only approximately €6 net from a €19 subscription. The total redistributable revenues are estimated at around €200 million, which is nearly 60% less than the amounts generated under the previous contracts with Canal+ or BeIN Sports. In a comparative context, major European leagues benefit from significantly higher valuation and stronger audience loyalty. The French market, characterized by limited willingness-to-pay and volatile supporter behavior, struggles to generate sustainable network effects. Ultimately, the viability of the Ligue 1+  model will depend on the LFP's capacity to consolidate its brand identity, diversify its revenue streams, and adapt its economic model to the structural realities of a constrained national market.</p>