Vivendi (Paris:VIV) revealed its first quarter earnings of 2024, bringing in nearly €4.3 billion in revenue this year following news of its festival and international ticketing activities.
“Today we are publishing a particularly sharp increase in revenues for a first quarter,” Yannick Bolloré, Chairman of Vivendi’s Supervisory Board, and Arnaud de Puyfontaine, Chairman of Vivendi’s Management Board, said in a statement on Monday. “This reflects the strength of our three core businesses and the Group’s ability to transform and grow.”
The Paris-headquartered company reported a 5.4% revenue gain from the previous year. The revenue increase was partially due to growth at the acquired publisher Lagardere, the pay-TV unit Canal+ group, and the advertising giant Havas. Vivendi’s gaming firm Gameloft posted a quarterly revenue of €68 million.
Additionally, Vivendi Village brought-in €31 million, though this is a slight drop from last year’s €33 million figure. After months of speculation, Vivendi recently announced its proposed sale of Vivendi Village, as well as its international ticketing activities including See Tickets, to CTS Eventim. The deal is expected to close in the coming months.
“We at Vivendi are convinced that CTS Eventim will be the right company to bring our ticketing and festival activities to new heights, supporting See Tickets to remain a state-of-the-art company in services and technology, while fostering the growth of the festivals and preserving their unique identities and audience,” Hala Bavière, chief executive of Vivendi Village, said in a statement.
