By Olivia Bugault
Vivendi SA (VIV.FR) said Monday that its first-quarter revenue rose, helped by the solid growth of its subsidiary Universal Music Group.
The French media group said revenue for the period was 3.46 billion euros ($3.91 billion) compared with EUR3.12 billion in the same period last year.
Vivendi mainly attributed its revenue increase to the growth of UMG as the music subsidiary's revenue rose to EUR1.5 billion from EUR1.22 billion a year earlier.
UMG's revenue increase was driven by higher subscription and streaming revenues, Vivendi said.
Revenue at its subsidiary Canal +, which produces and distributes movies, fell, while revenue at its advertising company Havas edged up, it said.
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