2023-09-27 22:39:32
Vivendi intends to sell its eleven festivals in France and Great Britain, and also intends to sell its ticketing division, said Vincent Bolloré’s group, confirming information published by The echoes Wednesday September 27. In the field of music, Vivendi has already sold its main nugget, by listing Universal Music Group on the Amsterdam Stock Exchange in 2021. Vivendi still retains 10% of the capital of the world’s leading music major and the Bolloré group (Vivendi’s main shareholder) himself kept 18%.
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This transfer of the other side of activities linked to music can be explained “by their lack of critical size” et « their too small international size » , we explain at Vivendi. Competition is indeed very tough against industry giants like Live Nation or AEG. Vincent Bolloré’s group has therefore entrusted an exploratory transfer mandate to an international bank established in France “to survey the market”, we specify from the same source.
Among the eleven festivals concerned, are Garorock, Brive Festival or ODP Talence in France or Love Supreme, Nocturne and Kite in Great Britain. If Garorock brought together some 150,000 festival-goers this summer in Marmande (Lot-et-Garonne), all of the group’s events attract no more than 400,000 followers.
Far behind Ticketmaster
The other subsidiary put up for sale, See Tickets, present in around ten countries in Europe and the United States, sold some 39 million tickets last year, including a large part for the Château de Versailles or for Les Vieilles. Plows. For comparison, Ticketmaster (a subsidiary of Live Nation) sells more than 500 million tickets worldwide each year.
The total turnover generated by See Tickets and by Vivendi festivals amounts to 150 million euros. These two subsidiaries employ 600 employees. The Breton billionaire’s group specifies, however, that it wants to keep the Olympia hall in Paris, as well as the Théâtre de l’Œuvre as well as the network of 18 Canal Olympia performance halls in Africa.
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