Vivendi dials up 28% gain in profits, eyes growth

Revs up 31.2% to $40 billion

PARIS — French utilities and telecommunications giant Vivendi has posted 1999 profits of $1.4 billion — a 28% increase over the previous year — while revenues rose 31.2% to $40 billion.

On Monday, chairman Jean-Marie Messier predicted the group, which owns 49% of Canal Plus and 25% of BSkyB, would see operating profits rise this year to about $3 billion from $2.3 billion in 1999, while operating profits at its media division should increase 30%.

Wireless ambitions

Messier’s professed strategy is to combine telephony, especially the mobile phone business, with content provision (via Canal Plus) and the Internet. His aim is to make Vivendi the European leader in new media. He recently established Vivendi.net, bringing together the Internet interests of Vivendi and Canal Plus.

Central to this strategy is the development of MAP, the multi-access portal joint venture with the world’s biggest mobile phone company, Vodafone Airtouch. Together, the companies already have access to 70 million European subscribers. The next step is to provide the technology for those subs to access the ‘Net via their mobile telephones, TV sets and PCs.

More Biz

  • Wilson Cruz Trace Lysette

    Variety to Live-Stream GLAAD Media Awards Nominations

    PARIS — French utilities and telecommunications giant Vivendi has posted 1999 profits of $1.4 billion — a 28% increase over the previous year — while revenues rose 31.2% to $40 billion. On Monday, chairman Jean-Marie Messier predicted the group, which owns 49% of Canal Plus and 25% of BSkyB, would see operating profits rise this […]

  • PyeongChang Winter Olympics

    To Win Olympics, NBCU Must Lure Big Crowds -- and Small Streamers

    PARIS — French utilities and telecommunications giant Vivendi has posted 1999 profits of $1.4 billion — a 28% increase over the previous year — while revenues rose 31.2% to $40 billion. On Monday, chairman Jean-Marie Messier predicted the group, which owns 49% of Canal Plus and 25% of BSkyB, would see operating profits rise this […]

  • Korean Giant to Emerge from CJ

    Korea's CJ Orders Up Merger of Media and Shopping Units

    PARIS — French utilities and telecommunications giant Vivendi has posted 1999 profits of $1.4 billion — a 28% increase over the previous year — while revenues rose 31.2% to $40 billion. On Monday, chairman Jean-Marie Messier predicted the group, which owns 49% of Canal Plus and 25% of BSkyB, would see operating profits rise this […]

  • Nicolas Winding Refn, Times Bridge Invest

    Nicolas Winding Refn, India’s Times Bridge Invest in MUBI Streaming Service

    PARIS — French utilities and telecommunications giant Vivendi has posted 1999 profits of $1.4 billion — a 28% increase over the previous year — while revenues rose 31.2% to $40 billion. On Monday, chairman Jean-Marie Messier predicted the group, which owns 49% of Canal Plus and 25% of BSkyB, would see operating profits rise this […]

  • Los Angeles Women's March

    Natalie Portman, Allison Janney, Viola Davis Join Women's March Los Angeles Lineup

    PARIS — French utilities and telecommunications giant Vivendi has posted 1999 profits of $1.4 billion — a 28% increase over the previous year — while revenues rose 31.2% to $40 billion. On Monday, chairman Jean-Marie Messier predicted the group, which owns 49% of Canal Plus and 25% of BSkyB, would see operating profits rise this […]

More From Our Brands

Access exclusive content