Canal+ Group posts 10.6 m subs

Presenting its 2008 results and posting a strong growth in earnings (EBITDA) in 2009, Vivendi Group, announced slightly upward revenues at Canal+ Group. Total revenues were €4.55 bn, up 4.4% compared to 2007 while pay-TV operations in France increased 2.8%.

Growth, while small, was driven by increased subs to Canal+ and CanalSat. At the end of last year, the pay-TV offer totalled 10.6 million subs of which half is attributable to Canal+ and half to CanalSat. Canal+ subscriptions remained strong, comparable to those reported in 2007 with roughly 600,000 new individual subs in mainland France. In 2008, Canal+ converted around 350, 000 analogue subscribers to its digital offer and transferred nearly one million TPS subs to the CanalSat platform.

The churn rate on both Canal+ and CanalSat was 14.7%.

Canal+ Group’s other revenues grew significantly, up 13.8% to €701 million due mainly to international operations. Canal+ Poland recorded portfolio growth exceeding 310,000 new subs to 1.4 million.

Commenting on those results, CEO Jean-Bernard Levy said Vivendi SA could be interested in new pay-TV acquisitions but has not found the appropriate target. But he refused to express himself about an interest in Spanish platform Digital+, being sold by owner Prisa.

Vivendi’s total revenues reached €25.3 bn, up 17.2% with an adjusted net income of €2.7 bn, up 8.4%.