Canal+ recovery boosts Vivendi Q1
May 18, 2018
Entertainment conglomerate Vivendi has reported first quarter 2018 revenues of €3.109 billion, up 16 per cent, with the company’s Canal+ Group pay-TV operation showing the continuation of recovery with a total of 15.3 million subscribers (+620,000 year-on-year).
The user growth recently reported by the major streaming platforms continues to support the strong increase in Universal Music Group’s (UMG) subscription and streaming revenues. At the end of April 2018, UMG’s revenues amounted to €1.657 billion.
Canal+ Group revenues amounted to €1.298 billion, up 2.1 per cent compared to the first quarter of 2017 (+2.5 per cent at constant currency and perimeter). This trend was driven by the significant increase in the subscriber base which reached a total of 15.3 million, representing a year-on-year increase of 620,000 subscribers.
In mainland France, the good momentum observed in the second half of 2017 continued, with a stabilisation of revenues for the pay-TV business, notably resulting in a substantial decrease in the individual subscriber churn rate of 2.2 percentage points to 15 per cent.