Vivendi’s Half-Year Revenue Rises by 12% Thanks to Umg, Canal Plus

Vivendi’s Half-Year Revenue Rises by 12% Thanks to Umg, Canal Plus
Vivendi saw its revenues climb by 11.9% to €8.2 billion ($9.7 million) during the first six months of 2021, driven by the growth of Universal Music Group (Umg), pay TV banner Canal Plus Group and advertising outfit Havas Group.

The Paris-headquartered company also saw its adjusted net income rise by 24% to €724 million ($857 million), while its net debt dropped to €2.9 billion ($3.4 billion) as of June 30, compared to €4.95 billion as of December 31, 2020.

During the first half of 2021, Umg’s revenues were up 17.3% to €3.8 billion ($4.5 billion), bolstered by recorded music revenues which grew by 20%. Subscription and streaming revenues also grew by 24.7%, while physical sales were up 40.1% compared to the first half of 2020.

BTS’ “Best Of” release, as well as new releases from Justin Bieber and Olivia Rodrigo ranked among the recorded music bestsellers for the first half year of 2021, along with continued sales from The Weeknd, Pop Smoke and Ariana Grande.

Vivendi’s financial results were also
See full article at Variety »

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