Vivendi’s half-year results show live entertainment revenue up 30% to €33m, with French festival Garorock performing well in its first year under the group
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While it has rowed back on plans to float Universal Music Group, French media conglomerate Vivendi continues to grow talent, venue and ticketing endeavour Vivendi Village
By IQ on 31 Jul 2018
While most of the column inches dedicated to Vivendi’s H1 2018 results have centred on its plans to sell up to 50% of Universal Music Group “to one or more strategic partners” and not via an IPO, the French conglomerate’s latest financials also underline the strength of its many live businesses, with record festival crowds and a powerful ticketing unit incorporating the recently acquired Paylogic.
Vivendi Village – which includes Vivendi Ticketing (See Tickets UK and US, Digitick and Paylogic, acquired in April) live event producers Vivendi Talents&Live and Olympia Production, and several music venues and festivals – turned over €52 million in the first six months of 2018. While that’s a slight decline on the €56m seen in H1 2017, the 2018 figure includes the cost of the acquisitions of Paylogic and ad agency Havas.
Following the Paylogic deal, ticketing accounts for half of Vivendi Village’s revenues, giving Vivendi a “strong and complementary presence in three major markets: it is a leading player in the United Kingdom, it offers significant opportunities for synergies in Continental Europe and it is strongly growing as challenger in the United States”, according to the financial report.
Beyond ticketing, Vivendi’s festivals also saw success in the first half of the year. France’s Les Déferlantes, Brive Festival and Live au Campo – all managed by Vivendi Village – saw their attendance rates grow by 17%, 30% and 15%, respectively, and the company is plotting further expansion in the French festival market with the rumoured acquisition of Garorock and the launch of a new event in Limoges in 2019.
Total live revenues grew 36.7% year on year.
Outside of Europe and North America, meanwhile, a strong performance in Africa, and intentions to expand these operations, has also proved fruitful. An additional CanalOlympia venue was opened on 1 June 2018 in Ouagadougou, Burkina Faso – Vivendi’s second in the city and the ninth in its growing west African live venue/cinema network.
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