Vivendi saw its revenues rise by 11.8% to 8,62 billion euros ($10.14 billion) during the first nine months of 2017, bolstered by the acquisition of Havas and the performance of Universal Music Group.
During the third quarter, Vivendi’s revenues went up by 2.7% to $3.74 billion at constant currency, while its income from operations rose 3.5% to $400 million.
Third quarter results were unveiled on Thursday during Vivendi’s shareholders’ meeting in Paris.
The situation at Vivendi’s pay TV company, Canal Plus Group, has also improved slightly, with revenues declining by 1.6% to $4.49 billion during the first nine months of 2017, compared to a drop of 2.7% last year. Its individual subscriber base, meanwhile, gained 3.2 million subs to reach 14.2 million during the first nine months of 2017.
In mainland France, Canal Plus gained 1,000 subscribers during the third quarter of this year — it marks the first time in three years that Canal Plus is able to recruit subscribers in France.
Vivendi, which had announced its plan to have Canal Plus Group save 300 million euros ($353 million) by 2018, said during today’s board meeting that the company was on track to exceed that cost optimization target. Vivendi said Canal Plus Group had already saved $282 million in costs during the first 9 months of 2017, mostly from programming and production, and will be cutting cost even further, notably on programming, during the fourth quarter.
Vivendi’s third quarter results were also boosted by the revenues of Havas, the advertising and communication group which was acquired in June from Vincent Bollore’s holding, Bollore Group. Havas’s revenues reached $618 million during the third quarter.
Universal Music Group’s (UMG) revenues amounted to $4.6 billion, up 10.9% at constant currency, driven by a 40.8% growth in subscription and streaming revenues from recording music during the first nine months of 2017. During the third quarter, UMG’s revenue rose 8.3% to $1.5 billion.