Vivendi generated first-quarter revenues of EUR 3.90 billion, representing a year-on-year increase of 5.0 percent organically (+0.7% in Q4) and 0.8 percent on a reported basis (-1.8% in Q4). The group benefited from a better growth trend at its leading revenue-generating business, Universal Music, with sales up 9.4 percent organically to EUR 1.81 billion (+5.4% in Q4). This was coupled with a strong performance at Vivendi's publishing subsidiary Editis, where the organic growth rate improved to 40.1 percent (+6.9% in Q4), based on EUR 163 million worth of revenues.
The proposed spin-out plan for Universal Music is progressing, following the favourable vote by Vivendi shareholders at the end of March. Its implementation could be finalised in autumn 2021, said the company, subject to approval at the group's AGM on 22 June. Commenting on the quarterly results, Vivendi highlighted the ongoing solid rise in music subscriptions and streaming revenues, up by 19.6 percent to EUR 1.0 billion (+17.4% in Q4).
Canal Plus generated EUR 1.36 billion, nearly stable year-on-year (-0.1% from -1.1% in Q4). The broadcaster's international activities saw a small increase (+1.6%), alongside the Studiocanal film production and distribution subsidiary (+8.9%). This was offset by a slight contraction at the French operations, with revenues down 2.1 percent organically to EUR 739 million. The drop was partly caused by the Covid-19 impact on the advertising market, said the company.
No quarterly subscriber figures have been released for Canal Plus, in France or internationally.
