- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Driven by pay TV unit Canal+ Group and advertising giant Havas, French media and telecommunications conglomerate Vivendi reported a 14.1 percent increase in its third-quarter revenue, or 10.3 percent when using constant currencies and focusing on the businesses that the company owns now.
That brought revenue for the period to 2.48 billion euros ($2.89 billion). For the first three quarters of 2021, revenue increased 9.2 percent, or 8.5 percent at constant currencies and assets, to 6.87 billion euros ($8 billion).
The results, unveiled on Thursday, didn’t include Universal Music Group anymore. Vivendi finished its spin-off of the home to the likes of Billie Eilish and Lady Gaga in September before the end of the third quarter.
Universal Music Group’s shares jumped in their stock market debut on Amsterdam’s Euronext exchange in late September. With the music powerhouse’s market listing, French media company Vivendi is cashing in on a bounceback of the music sector thanks to a boom in streaming revenue.
Vivendi, led by CEO Arnaud de Puyfontaine, will be retaining a stake of about 10 percent in the music major for a minimum period of two years.
Canal+ third-quarter revenue rose 6.3 percent, or 6.5 percent assuming constant currencies and no asset changes, to 1.47 billion euros ($1.71 billion).
For the first nine months of 2021, Canal+ revenue hit 4.25 billion euros ($4.95 billion), an increase of 4.8 percent as the performance of television operations in mainland France improved “slightly,” while Studiocanal benefited from a 38.6 percent jump at constant currencies and assets. “With movie theaters reopening and its TV series performing well, Studiocanal’s revenues … increased significantly” to 326 million euros ($379 million) for the first nine months, Vivendi said.
Havas revenue for the latest period jumped 21.8 percent, or 20.7 percent at constant currencies and assets, to 590 million euros ($687 million). “All the geographical regions recorded excellent organic performances for the third quarter of 2021, with positive contributions from all divisions,” the company said.
For the first three quarters of 2021, Havas’ revenue increased 9.0 percent, or 11.6 percent, to 1.64 billion euros ($1.91 billion).
Sign up for THR news straight to your inbox every day