Vivendi saw its revenues climb by 11.9% to €8.2 billion ($9.7 million) during the first six months of 2021, driven by the growth of Universal Music Group (UMG), pay TV banner Canal Plus Group and a…
saw its revenues climb by 11.9% to €8.2 billion during the first six months of 2021, driven by the growth of Universal Music Group , pay TV banner Canal Plus Group and advertising outfit Havas Group.
During the first half of 2021, UMG’s revenues were up 17.3% to €3.8 billion , bolstered by recorded music revenues which grew by 20%. Subscription and streaming revenues also grew by 24.7%, while physical sales were up 40.1% compared to the first half of 2020.’ “Best Of” release, as well as new releases from Justin Bieber and Olivia Rodrigo ranked among the recorded music bestsellers for the first half year of 2021, along with continued sales from The Weeknd, Pop Smoke and Ariana Grande.
As previously announced, Vivendi will next be selling between 5-10% of UMG to billionaire investor Bill Ackman’s hedge fund. Ackman was initially planning to acquire 10% of UMG through his SPAC but thethe Securities and Exchange Commission voiced concerns about the complicated agreement. Vivendi has said that if Ackman acquires under 10% of UMG, the shortfall will be sold to other investors.
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