This story was written by Rafat Ali.
Vivendi (EPA: VIV), the France-based media giant and parent of Universal Music Group, has reported its first half 2008 and Q208 earnings, and its revenues totaled $17.7 billion, compared to $16 billion for the first half 2007. For Q2, Vivendi's revenues totaled $9.4 billion compared to $8.15 billion a year earlier. Out of the units: Universal Music Group saw a 2.4 percent decline in revenues, while Vivendi Games saw the largest revenue drop, at 11.2 percent.
On UMG side, for H108, it had revenues of $3.12 billion, which is 2.4 percent decline in actual currency compared to the same period last year. It had a 33 percent increase in digital sales at constant currency. For Q208, UMG had revenues of $1.58 billion, which is a 5.3 percent decline in actual currency compared to the same period last year. More details in release here.
By Rafat Ali