Vivendi releases results for FY 2021

Wednesday, March 9th, 2022 
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PARIS — Vivendi has released audited consolidated financial figures established under IFRS, which were approved by Vivendi’s Management Board on March 7, 2022, reviewed by the Vivendi Audit Committee on March 7, 2022, and by Vivendi’s Supervisory Board on March 9, 2022.

Canal+ Group

At the end of December 2021, Canal+ Group’s total subscriber portfolio (individual and collective) reached 23.7 million, compared to 22.1 million at the end of December 2020 on a pro forma basis.

In 2021, Canal+ Group’s revenues were €5,770 million, up 5.2% at constant currency and perimeter compared to 2020.

Revenues from television operations in mainland France increased by 2.9% at constant currency and perimeter compared to 2020. The total subscriber base in mainland France recorded a net increase in subscribers of 373,000 over the past 12 months and reached 9.05 million subscribers.

Revenues from international operations increased by 4.7% at constant currency and perimeter compared to 2020, thanks again to the significant growth in the number of subscribers (+1.2 million year-on-year). The total subscriber portfolio outside mainland France stood at 14.7 million subscribers at the end of December 2021.

With movie theaters reopening and its TV series and catalogue performing well, Studiocanal’s revenues rose sharply by 31.5% (+27.5% at constant currency and perimeter) compared to 2020. Studiocanal is particularly buoyed by several box office hits, such as The Stronghold, Black Box and The Wolf and the Lion in France, Wrath of Man in Australia, New Zealand and Germany, and Drunk in the United Kingdom.

In 2021, Canal+ Group’s profitability improved compared to 2020. EBITA amounted to €480 million, compared to €435 million in 2020, an increase of 10.4% (+9.5% at constant currency and perimeter).

These results were supported by major developments across all the group’s strategic pillars.

On the international development pillar, Canal+ Group launched in Ethiopia and increased its stake in the South African company MultiChoice, crossing the threshold of 15% of capital.

On the digital pillar, myCanal deployed in Africa in 2021 and is now present in 29 countries in Europe and Africa.

Finally, on the content pillar, Canal+ Group announced the planned acquisition of 70% of SPI International and Studiocanal acquired new production companies (Urban Myth Films and Lailaps Films). In addition, on December 2, 2021, Canal+ Group announced the signing of an agreement with French cinema organisations, extending, at least until 2024, a partnership of more than 30 years. This agreement provides in particular:

  • A guaranteed investment of more than €600 million for the next three years in French and European cinema for Canal+ and Ciné+;
  • An earlier position in the media chronology for Canal+, providing it with access to titles six months after their theatrical release, in line with its renewed status as the leading contributor to French and European cinema;
  • A window of exclusive rights for Canal+ of at least nine months, which can rise to 16 months with the second window; and
  • Better ability to exhibit and circulate works on Canal+ Group cinema channels and on myCanal.

Following this agreement, Canal+ Group signed the new media chronology on January 24, 2022. Canal+ is now entitled to broadcast movies six months after their theatrical release, compared to 12 months in 2018.

After Netflix and Disney+, Starzplay joined Canal+ offers in 2021. In line with this, on February 15, 2022, Canal+ Group and ViacomCBS Networks International announced a long-term strategic partnership based on two pillars:

  • The distribution of Paramount+ by the end of the year and nine ViacomCBS channels by Canal+ Group, in France and Switzerland. Canal+ Group will be the only market player in France able to integrate Paramount+ into its commercial offers (in “hard bundle”);
  • The acquisition of exclusive premium content for Canal+ Group channels and services, covering more than 30 territories. Canal+ Group will notably air Paramount films in exclusive premiere on Canal+ in France and Switzerland six months after their theatrical release.

Links: Vivendi