Vivendi Village, the ticketing and live events division of conglomerate Vivendi, has reported a 3.4 per cent decline in revenues in the first quarter of 2020.
The France-headquartered group saw its Vivendi Village division’s revenues decrease to €23m in the three months to March 31.
Vivendi’s ticketing business, operating under the See Tickets brand, generated revenue of €14m, a fall of 5.4 per cent from 2019.
Live activities recorded revenues of €8m, an increase of 1.4 per cent compared to the first quarter of 2019.
After a strong start to the quarter, the decision of the French authorities to ban all gatherings of more than 1,000 people on March 9, and the lockdown measures gradually taken in Europe and Africa, weighed heavily on Vivendi Village’s revenues towards the end of the period.
While its parent company Vivendi was “little affected” by the consequences of the pandemic in Q1, reporting an 11.9 per cent increase from 2019 to €3.88m, Vivendi Village, multinational advertising and public relations company Havas Group and publishing firm Editis are each expected to be affected in the second quarter.
The group said in a statement: “Vivendi is confident in the resilience of its main businesses. It makes every effort to ensure the continuity of its activities, as well as to best serve and entertain its customers and its audiences while respecting the instructions of the authorities in each country in which it operates.”
The parent company has attributed its group growth to the uptick in Universal Music Group’s (UMG) revenues, which rose 12.7 per cent to €1.8m.
Last month, Vivendi announced it had completed the sale of 10 per cent of the share capital of UMG to a Tencent-led consortium, which generated a cash inflow of around €2.8bn.
Image: Exit Festival – Bernard Bodo