Even in the midst of a crisis, the jewel in the Vivendi crown loses nothing of its brilliance. Universal Music Group (UMG), the music subsidiary of the French media giant, continues to drive the group's activity. In the first quarter, the turnover of the conglomerate controlled by Vincent Bolloré jumped over a year by 12% (4.4% organically), to 3.9 billion euros, mainly thanks to the performance of the major.
Motor of this growth, UMG, which shelters artists such as Drake, Taylor Swift or Justin Bieber, saw its quarterly revenues grow by almost 18% (12.7% organically) to 1.8 billion euros. Physical sales are down slightly and concerts are at a standstill, but the increase in revenues from subscriptions and streaming (+ 16.5%) has largely kept activity afloat.
Read also: Vivendi, rare group growing in the first quarter
The Canal + group, for its part, limited the shock linked to the coronavirus epidemic. It posted a turnover of nearly 1.4 billion euros in the first quarter, up
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