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HomeBusinessVivendi reportedly considering selling Ticketing company See Tickets.

Vivendi reportedly considering selling Ticketing company See Tickets.

Multinational media company Vivendi is reportedly considering the sale of its live-events ticketing and festivals businesses, according to Sky News. The sale would involve Vivendi Village’s subsidiaries, See Tickets and the festivals division, which manages events such as the Love Supreme Jazz Festival. Vivendi believes that these businesses lack the scale necessary to compete with industry giants like Live Nation and TicketMaster. See Tickets, acquired by Vivendi in 2011 for €96 million, has since expanded to eight European markets and the US through various acquisitions. The company represents approximately 70% of sales in Vivendi’s Village division.

Vivendi SA is a prominent media conglomerate that controls Groupe Canal+ and owns advertising company Havas and video platform Dailymotion. It was also the parent company of Universal Music Group (UMG) until UMG’s listing on the stock exchange in 2021. Vivendi reported total revenues of €4.698 billion for H1 2023, with See Tickets being a significant driver of growth. The potential sale of its live-events ticketing and festivals businesses is part of Vivendi’s strategy to focus on its core operations and compete more effectively in the industry.

The decision to explore a sale reflects Vivendi’s belief that its ticketing and festivals businesses are not able to effectively compete with larger competitors in the industry. See Tickets, one of its subsidiaries, has been a staple in the UK live events scene since the 1990s and has expanded to multiple European markets and the US through acquisitions. However, Vivendi sees its businesses as lacking the necessary scale to compete with industry giants such as Live Nation and TicketMaster. The potential sale would involve Vivendi Village’s See Tickets and festivals division, while other businesses like Paris venues and a cinema chain in Africa would not be part of the exploration. See Tickets represents around 70% of all sales in Vivendi Village, indicating its importance to the company. This move aligns with Vivendi’s strategy to focus on its core operations and streamline its business to increase competitiveness in the market.

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