Canal+ boosts Vivendi’s first half

Pay TV operator Canal+ contributed to a solid revenue growth performance from Vivendi in the first half of this year.

Canal+’s revenues were €2.959 billion, up 3% compared to the first half of 2022, or 2.3% at constant currency and like-for-like.

Revenues from television operations in mainland France increased by 1.7% at constant currency and perimeter compared to the first half of 2022.

Revenues from international operations increased by 2.2% (up 1.2% like-for-like), driven mainly by growth in the subscriber base.

Production arm Studiocanal’s revenues increased significantly by 21.7% (up 16.0% like-for-like), thanks to highly successful theatrical releases, both in France and internationally.

Canal+ Group’s profitability remained stable compared to the first half of 2022, with EBITA of €337 million, down 1.5% like-for-like.

Vivendi did not break out subscriber numbers for Canal+, but highlighted strategic moves such as the launch of anew streaming platform in the Czech Republic and Slovakia and its strategic partnership wit8h PCCW to develop=p streamer Viu, in which Canal+ has taken a minority stake.

For the first half of 2023, Vivendi’s revenues were €4.698 million, an increase of 3.7% (up 3.2% like for like), mainly due to revenue growth at Canal+ Group (up €86 million) and publishing giant Havas (up €61 million), as well as the performance of games outfit Gameloft (up €19 million).

Vivendi CEO Arnaud de Puyfontaine said that “all Canal+ Group activities contributed to revenue growth while maintaining stable profitability.”

Chairman Yannick Bolloré said that ““Vivendi is steadfastly pursuing its internationalization strategy and strengthening its position as a leading global player in culture and entertainment” and noted that “Canal+ Group, with its investment in the Viu streaming platform in Asia and its equity interest in MultiChoice Group in Africa, is also contributing to the achievement of this strategic objective” alongside acquisition by Havas and the ongoing acquisition of Lagardère.