Canal+ international subscriptions compensate losses in France

Tuesday, November 10th, 2015
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Vivendi’s Supervisory Board met today under the chairmanship of Vincent Bolloré and reviewed the Group’s condensed financial statements for the first nine months of 2015, which were approved by the Management Board on November 5, 2015.

Canal+ Group

Canal+ Group’s International operations, in particular those in Africa, continue to sustain its overall performance although comparison with the third quarter of 2014, which was particularly dynamic as a result of the World Football Cup, is less favorable.

Canal+ Group’s pay-TV activities in France are confronted with a particularly difficult economic and competitive environment. A company reorganization was initiated this past summer and several initiatives have been taken to redress the economic situation of the Group’s premium offers in France.

Canal+ Group’s revenues amounted to €4,034 million, a 1.7% increase (+0.7% at constant currency and perimeter) compared to the first nine months of 2014.

Canal+ Group had a total of 15.4 million subscriptions, a year-on-year increase of 619,000, driven by the strong performance of Canal+ in Africa and Vietnam, and of the Canalplay streaming service in mainland France.

Revenues from pay-TV operations in mainland France were down 1.9% year-on-year due to a decline in the committed subscriber base, in a difficult economic and competitive environment. During the third quarter of 2015, the premium channel recorded a slight increase in the number of new subscribers, but this change did not offset the number of terminations.

International pay-TV revenues were up 7.6% compared to the first nine months of 2014, thanks to continued growth in the subscriber base.

Pay TV subscriptions

                                                2014              2015
                              ----------------------  ----------------
                                Q1   Q2    Q3    Q4    Q1    Q2    Q3
                              ----  ----  ----  ----  ----  ----  ----
Total (millions)              14.6  15.1  14.8  15.3  15.2  15.3  15.4
Y-o-Y additions (thousands)    250   940   605   678   605   176   619