Vivendi EBITA Up 10% So Far In 2010, UMG Down 1.7%
November 15, 2010 at 4:21 PM (PT)
The VIVENDI Board has sent out a press release unveiling its earnings for the first nine months of 2010. The conglomerate reported a 10% increase in EBITA, and a relatively small 1.7% decline in revenue from the UNIVERSAL MUSIC GROUP, according to the FINANCIAL POST.
UMG's 1.7% revenue decline (a 6.3% decrease at constant currency) was attributed to "fewer major local and international releases and reduced demand for physical product countered an increase in digital sales and music publishing sales, and strong growth in merchandising sales. For the third quarter of 2010, digital sales increased 18.5% year-on-year with improvements in the online sector more than offsetting a decrease in ringtone downloads in the US."
The release also "confirmed" VEVO's success, touring that the website had 44.3 million unique viewers as of SEPTEMBER 2010 as the 1# music video website in the U.S., but it did not specify what kind of revenue it generated.
Helping VIVENDI's bottom line was the fact that ACTIVISION BLIZZARD delivered better-than-expected financial and commercial results. ACTIVISION BLIZZARD’s revenues enjoyed a 14.8% increase compared to the same period in 2009, while its EBITA rose a robust 69%.