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Vivendi Weighs Impact of Coranavirus as Universal Music Drives Growth in Q1

France Coronavirus pandemic 2020 Music

07.07.2020 - 21:52

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variety.com

variety.com:

By Tim Dams French entertainment and advertising giant Vivendi provided an update on the impact of coronavirus on its wide-ranging business interests this morning, as it posted quarterly results showing 4.4% revenue growth on a fixed currency basis to €3.87 billion ($4.2 billion) for the period from January to March.

Universal Music Group (UMG) and Canal Plus Group owner Vivendi said its revenues for the first three months of 2020 had been “little affected” by the consequences of the Covid-19 pandemic.

France only went into lockdown towards the end of the quarter, on March 17. Vivendi reported a decline in revenues for certain business divisions in March, notably by advertising group Havas Group, publishing arm Editis and development

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