variety.com
pandemic
record
2020
Music
Universal Music Group Uplifts Vivendi During Coronavirus-Hit Quarter
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variety.com
variety.comElsa Keslassy International CorrespondentUniversal Music Group and Canal Plus Group’s international operations helped Vivendi stay afloat during the first half of 2020 which saw the outbreak of the coronavirus pandemic.The European media giant posted a 3% year-on-year increase in revenues to €7.5 billion ($8.87 billion) during the first half of 2020, which ended on June 30.
During the second quarter of 2020, as lockdown measures were enforced in most countries where Vivendi is active, revenues dropped by 4.8% to €3.7 billion ($4.3 billion).Vivendi’s EBITA was also slightly up by 2.4% to €735 million ($868 million) during the first half, while its adjusted net income was up 5.4% to €583 million ($690 million).
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