Connect with us

News

Vivendi Weighs Impact of Coranavirus as Universal Music Drives Growth – Variety

Published

on

French leisure and promoting big Vivendi offered an replace on the impression of coronavirus on its wide-ranging enterprise pursuits this morning, because it posted quarterly outcomes displaying 4.4% income development on a set forex foundation to €3.87 billion ($4.2 billion) for the interval from January to March.

Common Music Group (UMG) and Canal Plus Group proprietor Vivendi stated its revenues for the primary three months of 2020 had been “little affected” by the implications of the Covid-19 pandemic.

France solely went into lockdown in direction of the top of the quarter, on March 17.

Vivendi reported a decline in revenues for sure enterprise divisions in March, notably by promoting group Havas Group, publishing arm Editis and growth operation Vivendi Village, citing the primary results of the Covid-19 disaster.

Vivendi stated it’s unimaginable to find out with certainty how the pandemic will impression its future revenues and annual outcomes, although it allowed that revenues of Havas Group, Editis and Vivendi Village are anticipated to be affected within the second quarter of 2020.

Vivendi stated its income development for the primary quarter primarily stemmed from the expansion of UMG and Canal Plus Group.

UMG’s revenues had been €1.77 billion ($1.92 billion), up 12.7% on a relentless forex foundation in comparison with the primary quarter of 2019.

Vivendi cited development in subscription and streaming revenues, up 16.5%, and the receipt of a digital royalty declare. Revenues had been impacted by the continued decline of downloads, which fell 26.1%.

Bestsellers for the primary quarter of 2020 included new releases from King & Prince, Justin Bieber, Eminem and The Weeknd, in addition to continued gross sales from Billie Eilish and Publish Malone.

Music publishing revenues grew by 17.7%, additionally pushed by elevated subscription and streaming revenues.

For the primary quarter of 2020, Canal Plus Group’s revenues had been €1.37 billion ($1.49 billion), up 1% on a relentless forex foundation.

Revenues from Canal Plus Group’s tv operations in mainland France decreased barely, down 0.7%. However revenues from worldwide operations grew by 8.7% at fixed forex, pushed each by natural development and the combination of latest acquisition M7, the Benelux and central Europe pay-TV agency.

Vivendi stated it’s assured within the resilience of its predominant companies in gentle of the coronavirus pandemic, noting that its gross money place stood at €4.Eight billion ($5.2 billion) following the sale on the finish of March of a 10% curiosity in UMG to a consortium led by Tencent primarily based.

Vivendi additionally stated it has €3.9 billion ($4.2 billion) in confirmed credit score services, together with €2.Three billion ($2.5 billion) instantly accessible.

Its bond debt quantities to €5.Four billion ($5.9) billion), with maturities extending to 2028. The group’s web debt stood at €2.Four billion ($2.6 billion) on March 31, 2020.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 - 2021 TechZimo.com, All rights reserved.