Vivendi Universal On Track11 Feb, 2002 By: Hive News
Vivendi Universal's Media and Communications businesses reported pro forma revenue growth of 9 percent for 2001, reaching 28.9 billion euros, the company reported today.
Revenue growth was 10 percent using the 2000 perimeter excluding Universal Film, exactly in line with management estimates given a year ago, according to Universal.
Vivendi's TV & Film segment revenue grew 8 percent on strong revenue increases at StudioCanal, Universal Studios Film, CanalSatellite and Telepiu.
Universal Studios Film revenue benefited from strong box office and cassette and DVD sales of The Mummy Returns and Jurassic Park 3 as well as strong box office performance of American Pie 2, The Fast and The Furious and Bridget Jones's Diary.
Successful in-house films like Brotherhood of Wolf, Une Hirondelle a fait le Printemps and Belphegor and acquired film distribution rights for What Women Want, Bridget Jones' Diary and Traffic drove strength at StudioCanal.
Revenue growth at CanalSatellite was attributed to 14 percent higher subscriptions and price increases. Telepiu's revenue growth was attributable to price increases and growing ancillary revenue streams. Overall, Canal+ group revenues rose nearly 13 percent in 2001.
Publishing revenue increased 5 percent, driven primarily by strength at its two businesses for the future: Games and Education. Games revenue grew 23 percent in 2001, and Education grew 9 percent.
Internet segment revenue grew 36 percent in 2001, driven by higher revenue at VU Net in the U.S. and Europe. In the U.S., Flipside revenues doubled and VU Net introduced four new sites. In Europe, existing sites reported strong revenue growth and VU Net launched five new sites in 2001.
"I am pleased that we achieved our ambitious target of 10 percent organic revenue growth in 2001 for the businesses resulting from Vivendi's merger with Seagram and Canal+," said Vivendi Universal chairman and CEO Jean-Marie Messier. "Organic growth is, more than ever in today's markets, the most important strength of Vivendi Universal. Achieving the highest level of growth in our industry is a big differentiation of Vivendi Universal, and the operating management deserves recognition for fulfilling their growth objectives and outperforming their peers in a difficult year. Our 2001 results give us confidence that we can achieve our growth targets again in 2002."
This year, Vivendi's priority is internal growth, with revenue growth expected to be at least 10 percent. A message from Messier is available on Vivendi Universal's Web site (vivendiuniversal.com).