Canal+ delivers growth for Vivendi

French pay TV operator Canal+ was the star performer for parent company Vivendi during the quarter to March, contributing the biggest share of the group’s revenue growth.

For the first quarter, Canal+ Group’s revenues were €1.478 million, up 2.2% compared to the same period last year, or 1.2% at constant currency.

Revenues from TV operations in mainland France were up by 1.4% at constant currency compared to the first quarter of 2022, driven primarily by the growth of subscription revenue. Revenues from international operations increased by 1.6% year-on-year but were down 0.3% at constant currency.

Highlights of the quarter included the recent signing of a partnership with Apple that makes all Apple TV+ content available to all Canal+ subscribers in mainland France. New Canal+ subscribers will recieve Apple TV+ as part of their offer.

In what is described as a world first, all Apple TV+ content can be viewed directly on myCanal and Apple Original series, including The Morning Show, will be broadcast on Canal+ throughout the duration of the agreement. The offer will initially be available in France and Switzerland and will be extended to the Czech Republic and Slovakia.

Production arm Studiocanal’s revenues increased by 13.6% year-on-year or 9.1% at constant currency thanks to successful theatrical releases such as Alibi.com 2 and John Wick 4. The company recently announced the filming of Paddington in Peru, the next installment of the successful kids movie series.

Last week Studiocanal announced that it had invested in the independent British production company Strong Film & Television

Yannick Bolloré, chairman of the supervisory board of Vivendi, and

Vivendi’s overall revenues were €2.290 billion, compared to €2.217 billion for the first quarter of 2022. This 3.3% increase was primarily due to growth at Canal+ Group, up €32 million, along with publishing outfit Havas, up €20 million and game company Gameloft, up €10 million.

Arnaud de Puyfontaine, chairman of the management board and CEO, jointly said: “All of our businesses progressed during the first quarter of 2023. Many positive signs have emerged in the last few months. The landmark agreement with Apple confirms Canal+ Group’s leadership position in France as a content aggregator. Studiocanal once again demonstrated its ability to produce films that draw large audiences. Havas signed major contracts with several prestigious clients. The success of Disney Dreamlight Valley and the promising start of its Disney Speedstorm game are a testament to the validity of Gameloft’s strategic transformation.”