×
You will be redirected back to your article in seconds

Vivendi Posts 10% Increase in Q1 Revenue, Bolstered by Universal Music Group

Bolstered by the performance of Universal Music Group, Vivendi posted a 10.7% year-on increase in revenue to €3.4 billion ($3.8 billion) during the first quarter of 2019, the company reported Monday.

Vivendi said the company’s first quarter results were boosted by the growth of Universal Music Group whose revenues went up by 18.8% to €1.5 billion ($1.7 billion), as well as by the consolidation of Editis, the leading French-language publishing group, which Vivendi acquired in January.

Higher subscription and streaming revenues (+28.1%) as well as strong physical sales allowed UMG’s first-quarter recorded music revenues to rise by 19.2% compared to the same period last year. Recorded music bestsellers included new releases from Ariana Grande, the Japanese band back number and Billie Eilish, as well as continued sales of the soundtrack to “A Star Is Born” and multiple albums from Queen. The rise in subscription and streaming revenues countered the drop in digital sales (mostly downloads), which were down 18.2% compared to the first quarter of 2018.

Music publishing revenues grew by 4.7%, also fueled by increased subscription and streaming revenues, Vivendi said.

The company said it was moving forward with the sale of up to 50% of UMG’s share capital to one or more partners. The company will soon complete the selection of partnering banks and advisors. In January UMG was valued at around $44 billion by Deutsche Bank, but that was upped to $50 billion by Morgan Stanley the following month. Potential buyers mentioned in recent months include Liberty Media, Apple, Tencent and Google.

Meanwhile, Vivendi’s pay-TV company, Canal Plus Group, saw its revenues dip by 3.6% to €1.25 billion ($1.4 billion). Revenues from TV operations in France fell, even though the number of Canal Plus channel subscribers has increased in the past 12 months. Vivendi also said international operations continued to grow strongly and saw the number of “subscribers increased by nearly 700,000 over the past 12 months, with all regions of the world contributing to this improvement.”

Vivendi attributed a drop in revenue at Studiocanal, Canal Plus Group’s film and TV production/distribution arm, to the absence of a “Paddington” movie. “Paddington 2” had boosted Studiocanal’s first quarter earnings in 2018. A Paddington animated series is also planned for late 2019, and a “Paddington 3” movie is in the works.

Earlier this year, Vivendi sold its remaining interest in Ubisoft (5.9% of the share capital) for €429 million ($485 million), which allowed Vivendi to make a capital gain of €220 million ($250 million).

More Film

  • Alexander Skarsgard, Nicole Kidman. Alexander Skarsgard,

    Nicole Kidman, Alexander Skarsgard to Reunite for Robert Eggers' 'The Northman'

    With his latest film “The Lighthouse” set to bow this weekend, Robert Eggers’ next film has cast two leads, “Big Little Lies” alums Nicole Kidman and Alexander Skarsgård. The pic, titled “The Northman,” is described as a Viking revenge saga set in Iceland at the turn of the 10th century. In talks to join Kidman [...]

  • Jessica Henwick

    'Matrix 4' Taps 'Iron Fist' Star Jessica Henwick

    Jessica Henwick is in final negotiations to star in the upcoming fourth installment of the “Matrix” franchise. She joins Keanu Reeves and Carrie-Anne Moss, who will be reprising their roles in the film, as well as Yahya Abdul-Mateen II, who was tapped as one of the leads last week. Neil Patrick Harris also just joined [...]

  • John Turturro Big Lebowski Jesus Rolls

    The Unconventional Road to John Turturro's Unofficial 'Big Lebowski' Spinoff 'Jesus Rolls'

    By now, John Turturro is used to being recognized as Jesus Quintana, the flamboyant, purple-polyester-clad competitive bowling maven who stares down Jeff Bridges’ “the Dude” at the lanes in “The Big Lebowski.” The chameleon-like character actor has made multiple films with the Coen brothers, Spike Lee and even Michael Bay. But when he goes out [...]

  • Frozen 2

    Record 32 Animated Feature Films Submitted for Oscars

    “The Addams Family,” “Frozen II,” “Toy Story 4,” “Abominable” and “The Secret Life of Pets 2” are among the record 32 movies submitted for the animated feature film category at the 2020 Oscars. Last year’s Academy Awards race boasted 25 entries, while 2017 had 26 and 2016 had 27 (a then-record). The list of contenders [...]

  • Bebe Rexha Drops Music Video From

    Bebe Rexha Drops Empowering Music Video From 'Maleficent: Mistress of Evil' (Watch)

    Bebe Rexha has dropped a video for her song “You Can’t Stop the Girl,” the female empowerment theme from Disney’s forthcoming “Maleficent: Mistress of Evil.” Directed by Sophie Muller, the music video features scenes of Rexha reimagined as Maleficent and wandering through the film’s fantasy landscape, leading a marathon of women and snippets of the [...]

  • Sir Elton JohnElton John AIDS Foundation

    Recappin' Fantastic: The Most Fascinating Reveals from Elton John's Memoir, 'Me'

    How charming, and jaw-droppingly candid, is Elton John’s memoir, “Me”? Consider this: It’s a 350-page book that’s not so overly caught up in sex, drugs and rock ‘n’ roll — which, to be sure, it supplies in roughly equal, copious amounts  — that it won’t take a time-out to recount the party where Elton made [...]

  • Reese Witherspoon Kerry Washington Ryan Reynolds

    Market for Package Deals and Original Ideas Heats Up Ahead of Platform Launches

    Practically every studio in town wanted it, but in the end it was Apple that swept in to nab the reinterpretation of “A Christmas Carol” with Will Ferrell and Ryan Reynolds. To buy the highly coveted package, the tech giant was willing to shell out more than $60 million to the stars and the film’s [...]

More From Our Brands

Access exclusive content