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Vivendi revenues boosted by Canal+

March 11, 2022

Vivendi has reported 2021 revenues of €9.5 billion, up €904 million (+10.4 per cent) compared to 2020. This increase is mainly due to the growth of Canal+ Group, Havas Group and Editis. It also included the impact of the consolidation of Prisma Media as from June 1st 2021.

For the fourth quarter of 2021, Vivendi’s revenues were €2.7 billion, up €325 million (+13.7 per cent) compared to the fourth quarter of 2021.

At the end of December 2021, Canal+ Group’s total subscriber portfolio (individual and collective) reached 23.7 million, compared to 22.1 million at the end of December 2020 on a pro forma basis.

In 2021, Canal+ Group’s revenues were €5.7 billion, up 5.2 per cent at constant currency and perimeter compared to 2020.

Revenues from television operations in mainland France increased by 2.9 per cent at constant currency and perimeter compared to 2020. The total subscriber base in mainland France recorded a net increase in subscribers of 373,000 over the past 12 months and reached 9.05 million subscribers.

Revenues from international operations increased by 4.7 per cent at constant currency and perimeter compared to 2020, thanks again to the significant growth in the number of subscribers (+1.2 million year-on-year). The total subscriber portfolio outside mainland France stood at 14.7 million subscribers at the end of December 2021.

With movie theatres reopening and its TV series and catalogue performing well, Studiocanal’s revenues rose sharply by 31.5 per cent (+27.5 per cent at constant currency and perimeter) compared to 2020. Studiocanal is particularly buoyed by several box office hits, such as The Stronghold, Black Box and The Wolf and the Lion in France, Wrath of Man in Australia, New Zealand and Germany, and Drunk in the UK.

In 2021, Canal+ Group’s profitability improved compared to 2020. EBITA amounted to €480 million, compared to €435 million in 2020, an increase of 10.4 per cent (+9.5 per cent at constant currency and perimeter). These results were supported by major developments across all the group’s strategic pillars.

On the international development pillar, Canal+ Group launched in Ethiopia and increased its stake in the South African company MultiChoice, crossing the threshold of 15 per cent of capital.

On the digital pillar, myCanal deployed in Africa in 2021 and is now present in 29 countries in Europe and Africa.

Finally, on the content pillar, Canal+ Group announced the planned acquisition of 70 per cent of SPI International and Studiocanal acquired new production companies (Urban Myth Films and Lailaps Films). In addition, on December 2, 2021, Canal+ Group announced the signing of an agreement with French cinema organisations, extending, at least until 2024, a partnership of more than 30 years.

After Netflix and Disney+, Starzplay joined Canal+ offers in 2021. In line with this, on February 1th, 2022, Canal+ Group and ViacomCBS Networks International announced a long-term strategic partnership based on two pillars:

  • The distribution of Paramount+ by the end of the year and nine ViacomCBS channels by Canal+ Group, in France and Switzerland. Canal+ Group will be the only market player in France able to integrate Paramount+ into its commercial offers (in “hard bundle”);
  • The acquisition of exclusive premium content for Canal+ Group channels and services, covering more than 30 territories. Canal+ Group will notably air Paramount films in exclusive premiere on Canal+ in France and Switzerland six months after their theatrical release.

Havas Group

In 2021, Havas Group’s revenues were €2,341 million, up by 10.8 per cent at constant currency and perimeter compared to 2020.

Net revenues were €2,238 million in 2021, up 9.2 per cent compared to 2020. Organic growth was +10.4 per cent compared to 2020. Currency effects were negative at -2.3 per cent and acquisitions contributed +1.1 per cent. During the fourth quarter of 2021, Havas Group again recorded strong business growth compared to the same period in 2020 and achieved organic growth in net revenues of +9.3 per cent.

All the geographical regions delivered strong organic performances in 2021, with positive contributions from all divisions: Creative, Media and Health communications. North America and Europe were the biggest contributors, enjoying solid organic growth. Asia-Pacific and Latin America also reported highly satisfactory performances.


In 2021, book sales sharply increased compared to both 2020 and 2019. The market reached a historic level, notably driven by the Comics-Mangas segment. In 2021, Editis’ revenues reached €856 million, an increase of 18.1 per cent at constant currency and perimeter compared to the same period in 2020 and 16.5 per cent compared to 2019, even though school reform has less of an impact in 2021 than it had in the two previous years.

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