Paris-based global media giant Vivendi is reportedly looking to sell its full-service ticketing operation See Tickets along with its interests in 11 festivals across France and the UK, including Kite and Love Supreme, which are overseen by its Vivendi Village arm.
The 8,000-capacity Kite festival (pictured) was launched by Ciro Romano’s Neapolitan Music, which also promotes the 23,000-capacity Love Supreme Jazz Festival, in partnership with Vivendi-owned production company U-Live last year. The festival returned to Oxfordshire’s Kirtlington Park in June with a line-up that blended music talent such as Hot Chip and The Pretenders along with speakers ranging from comedian and author Adam Kay to former prime minister Sir John Major.
Operational in nine European countries and the US, See Tickets was acquired by Vivendi in 2011. Led by Group CEO Rob Wilmshurst, it sold 39 million tickets last year, with its many event clients including Glastonbury Festival and Tomorrowland.
According to the report by Sky News, Vivendi is working with advisers to explore selling elements of its Vivendi Village subsidiary, with the process expected to commence imminently.
Sky’s sources have suggested that the French media conglomerate moved to sell the assets having concluded that its festivals and ticketing segments could not compete with market leaders such as Live Nation/Ticketmaster and AEG.
Having announced that Vivendi Village generated revenues of €238 million in 2022, its parent company issued a statement that said, “Vivendi Village is mainly driven by ticketing, which represents 70% of overall revenues and is experiencing strong growth, due in particular to the expansion of its customer base to new market segments beyond its traditional activities in the field of music.”