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HomeBusinessVivendi considers selling See Tickets, a ticketing firm (report)

Vivendi considers selling See Tickets, a ticketing firm (report)

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Media giant Vivendi is reportedly considering selling its live-events ticketing and festivals businesses. The potential sale would involve two businesses within Vivendi Village: UK-based See Tickets and Vivendi Village’s festivals division. The decision to explore a sale is driven by Vivendi’s belief that these businesses lack the necessary scale to effectively compete with industry giants such as Live Nation, TicketMaster, and AEG. See Tickets, which represents around 70% of all sales in Vivendi Village, has experienced strong growth and expansion in recent years, contributing significantly to the company’s revenue.

Vivendi acquired See Tickets UK in 2011 and has since expanded its presence to eight European markets and the US through strategic acquisitions. The latest earnings report reveals that See Tickets is the primary driver of growth in Vivendi Village, with revenues of €81 million in H1 2023. The company sold a total of 19 million tickets in the first half of 2023, compared to 15 million in the same period the previous year. However, Vivendi believes that these businesses need to be part of a larger entity to effectively compete in the market.

Vivendi is a multinational media conglomerate that owns various entities, including Groupe Canal+, Havas, and Dailymotion. It was previously the parent company of Universal Music Group until UMG’s listing on the Euronext Amsterdam stock exchange in 2021. Vivendi reported total revenues of €4.698 billion in H1 2023 and is now considering the sale of its live-events ticketing and festivals businesses to focus on its core operations.

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