Vivendi H1: Ticketing grows as African venue network expands
Vivendi’s ticketing businesses continued to display what the company calls a “dynamic performance” in H1 2017, earning the French media giant €27 million in the first six months of the year.
That’s a 16.5% increase on the same period in 2016, and comes amid strong growth for the company’s Vivendi Village subsidiary – which includes Vivendi Ticketing (See Tickets UK, See Tickets US and France’s Digitick); events producers Vivendi Talents&Live, Olympia Production and Festival Production; and Vivendi’s music and entertainment venues – as a whole.
Vivendi Village’s H1 2017 revenues topped €56m – up 7.9% – although EBITA (earnings before interest, taxes and amortisation) fell to -€9m, from -€4m in H1 2016, due to “investment costs”, according to its latest balance sheets.
These investment costs include opening more venues in Africa: its sixth entertainment and film venue in Senegal launched in May, while two more, in Togo and Benin, are due to open their doors in September.
Recorded-music revenue, from Universal Music Group, climbed 7.8% to €5.44bn – helped along by ‘Despacito’, by UMG Latin America artist Luis Fonsi, which last month became the most-streamed song of all time, clocking up 4.6bn streams in six months.
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.