Canal+ sees revenue and subscriber numbers rise again

Vivendi’s pay TV outfit Canal+ Group continued to grow both revenue and subscriber numbers in the first half of this year.

The group saw its revenues rise by 3.3% to €2,873 million for the first half, or by 2.2% at constant currency. Canal+ Group’s total subscriber portfolio, including collective subscriptions, reached 23.9 million, including 9.6 million in mainland France, up from 22.4 million for the first half of 2021 on a like-for-like basis.

The subscriber base in mainland France rose and its revenues increased by 3.7% compared to the first half of 2021, according to the company. Revenues from international operations increased by 4.8% at constant currency, boosted by a growing subscriber base.

On the downside, production arm Studiocanal’s revenues fell by 23.5% at constant currency, with the performance of TV series comparing poorly with the first half of 2021, which was boosted by War of the Worlds, Un Asunto Privado and Dos Vidas.

EBITA was €337 million, up 0.4% at constant currency.

International development

During the first half of 2022, Canal+ Group strengthened its content offerings and continued its international development:

The six months to June saw Canal+ Group secure a more advantageous movie window in France, entitling it to broadcast movies as early as six months after their theatrical release, compared to twelve months in 2018.

The group also signed a long-term partnership with ViacomCBS, entered the Austrian market by launching a streaming platform in partnership with A1 Telekom Austria, completed the acquisition of 70% of SPI International, and won, for the first time, the rights to all UEFA European soccer competitions among other things.

Vivendi itself meanwhile posted revenues of €4.873 billion, up 10.9% and 5.4% on an organic basis compared to the first half of 2021, boosted not only by Canal+’s improving performance but by a stronger performance from its Havas publishing arm.

CEO Yannick Bolloré said that future growth for the group would increasingly come from its international efforts.

“Havas Group and Canal+ Group already generate 80% and 40% of their revenues, respectively, outside of France. The proposed combination with Lagardère is part of this effort. Our objective is to reach a critical global size in order to build an effective and sustainable business model in response to global consolidation and the growing weight of the major platforms.

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