Vivendi Q2 Up; UMG Digital Sales Jump
July 26, 2007 at 5:34 AM (PT)
VIVENDI has reported a 7.4% increase in second-quarter revenue to EU 5.2 billion ($7.13 billion), driven by growth in its pay TV and video game units. On a constant currency basis, revenue rose 9%, the company said. Vivendi will report full financials, including bottom line results, at a later date.
VIVENDI's music unit, UNIVERSAL MUSIC GROUP, posted revenue of EU1.07 billion, a 0.8% year-over-year decline. The company cited "adverse currency movements" that were partly offset by additional revenue from the acquisition of BMG's music-publishing unit.
Assuming constant currencies, second-quarter music revenue rose 3.8% as UMG said it outperformed the broader market, especially in JAPAN. Digital music sales jumped 49% to EU155 million ($212.7 million). Best-sellers in the quarter included new releases from MAROON 5, RIHANNA and BON JOVI.
UMG's digital sales for the first half amounted to EU315 million ($432.2 million), up 51% and representing 15% of total music revenue, compared with 10.1% a year ago, VIVENDI said.