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Vivendi’s Half-Year Revenue Rises by 12% Thanks to UMG, Canal Plus

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variety.com

Elsa Keslassy International CorrespondentVivendi 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 advertising outfit Havas Group.The Paris-headquartered company also saw its adjusted net income rise by 24% to €724 million ($857 million), while its net debt dropped to €2.9 billion ($3.4 billion) as of June 30, compared to €4.95 billion as of December 31, 2020.During the first half of 2021, UMG’s revenues were up 17.3% to €3.8 billion ($4.5 billion), bolstered by recorded music revenues which grew by 20%.

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