Vivendi has merged the formerly SFX-owned ticket agency into See Tickets in order to better "leverage its global assets", it has announced
Sign up for IQ Index
The latest industry news to your inbox.
The French media giant is rumoured to be working with advisers on a potential disposal of its ticketing and festival divisions
By James Hanley on 26 Sep 2023
French-headquartered media giant Vivendi is reportedly exploring the sale of See Tickets along with its festival division.
According to Sky News, the conglomerate is working with advisers on potentially offloading parts of its Vivendi Village subsidiary, which also includes 11 festivals such as the UK’s Love Supreme and Kite, as well as Garorock in France.
Sources indicate that Vivendi, which announced the partial spin-off of its stake in Universal Music Group in 2021, has concluded its ticketing and festival businesses were not of sufficient scale to compete with the likes of Live Nation and AEG.
The remainder of Vivendi Village’s operations, including Paris’ L’Olympia venue and a cinema chain in Africa, are not believed to be part of the strategic review process, which is expected to begin imminently. However, insiders caution that the sales of the two businesses were not inevitable, with no final decision yet made.
A Vivendi spokesperson has declined to comment on the report.
“The business is mainly driven by ticketing, which represents 70% of overall revenues and is experiencing strong growth”
See Tickets, which was acquired by Vivendi in 2011, opened its first US base in Los Angeles in 2014 and operates more than 15 offices worldwide including in London, New York, Nashville, Paris, Amsterdam and Zurich. Its executive committee comprises five members: Rob Wilmshurst (Group CEO), Boris Patronoff (Group COO), Leanne Lipscombe (Group CFO), Marijke van den Bosch (CEO Benelux and Germany) and Laurent de Cerner (CEO France).
In 2022, the firm sold more than 39 million tickets for 8,000 clients including the UK’s Glastonbury festival, Tomorrowland in Belgium and AmericanaFest in Nashville, US.
Vivendi Village posted revenues of €238 million last year – up from €102m the previous year – and reported sales of €81m for the first six months of the 2023 financial year.
“The business is mainly driven by ticketing, which represents 70% of overall revenues and is experiencing strong growth, due in particular to the expansion of its customer base to new market segments beyond its traditional activities in the field of music,” said Vivendi in response to the financial results.
Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news.