Vivendi’s Canal+ says its international expansion is beginning to pay off, with its total pay-TV subscriber base at 20.4 million, up from 17.1 million in the first half of 2019.
The domestic subscriber base stood at 8.5 million at the end of June, including partner agreements, including the new deal with Disney+. At the start of June the group also became the exclusive French distributor of beIN Sports channels to third party distributors for the next five years.
Canal+ made a 6.2 per cent uplift in revenue for the first half of the year, though revenues in France were down 2.1 per cent due to the impact of Covid-19 on the advertising market. Revenues from international operations jumped by 30.5 per cent the uplift was due to rapid growth in its international subscriber base, including the acquisition of M7 Group.
However, production unit Studiocanal saw revenues plummet 30.5 per cent due to the impact of the virus on theatrical distribution.
A combination of subscriber growth and cost control meant that the pay TV outfit turned in EBITA of €329 million, up 16.2 per cent in constant currency terms, for the first half.
Canal+’s strong performance meant that the pay TV group made a positive contribution to parent Vivendi’s overall result along with Universal Music Group, offset by COVID-19 related falls at Havas Group and Vivendi Village. Vivendi posted revenues of €5.576 billion for the six months, EBITA was €735 million.