UMG POWERS VIVENDI EARNINGS JUMP AS
STREAMING KICKS IN

Lucian Grainge’s UMG was the big earner for Vivendi in Q2, as the world’s largest music group posted a 19% sales increase.

Looking at UMG’s performance for the first six months of 2015, recorded music revenues grew 15.2%, aided by a 34% jump in streaming revs, offsetting a 7.4% downtick in the physical sector and a 5% drop in downloads. Total half-year income was $2.08 billion.

Publishing revenues, meanwhile, grew 2.7% to $396mduring Jody Gerson's first six months at the helm of UMPG.

All in all, a nice flourish for Grainge’s recently inked new five-year deal.

Vivendi Q1 revenue rose 9% to $2.9 billion), the Paris-based company said Wednesday. Net income jumped 34% percent to $217m before interest, taxes and amortization, topping analysts’ expectations.

After selling Brazilian telecom GVT to Telefonica for about $9 billion, Vivendi’s major holdings are down to two companies, UMG and Canal Plus, as Chairman Vincent Bollore refocuses the Paris-based company on music and video. According to Bloomberg, Bollore is now turning his attention to Canal Plus as he aims to transform the pay-TV unit into an international content production and distribution powerhouse.

Canal Plus earnings were down 9%, despite a 1% increase in revenue.