By Mauro Orru 

Vivendi SE said Thursday that revenue for the first quarter increased on the back of strong performance at its main business Universal Music Group.

The French media giant said revenue for the quarter rose to 3.90 billion euros ($4.69 billion) from EUR3.87 billion in the first quarter of 2020.

The result represents an increase of 5% on an organic basis.

Revenue at Universal Music climbed to EUR1.81 billion from EUR1.77 billion.

Universal Music's overall revenue grew 9.4% organically, with streaming revenues up 19.6%.

"Vivendi continually monitors the current and potential consequences of the crisis. It is difficult at this time to determine how it will impact Vivendi's results in 2021," the company said.


Write to Mauro Orru at; @MauroOrru94


(END) Dow Jones Newswires

April 22, 2021 12:08 ET (16:08 GMT)

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