Annual report 2014

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Management Message
Frédéric Crépin, group general counsel and company secretary - Hervé Philippe, member of the management board, chief financial officer
Vincent Bolloré, chairman of the supervisory board - Arnaud de Puyfontaine, chairman of the management board
Stéphane Roussel, member of the management board, senior executive vice president, development and organization
Simon Gillham, chairman of vivendi village, senior executive vice president, communications
In a difficult regulatory and competitive environment, all our businesses
demonstrated an ability to adapt, develop and grow. The group
generated total revenues of more than €10 billion in 2014. Building
on these results, the new Vivendi is presently ready to achieve new
growth targets.
We are convinced that this new growth is in media and content. Why?
Firstly, because there will be many more consumers who can be
entertained in tomorrow’s world. Over the next ten years, the world’s
middle class is estimated to increase by as much as it did during
the entire 20th century. This means that two billion people in Africa,
Asia and Latin America will enter the leisure economy by 2025.
Secondly, because tomorrow’s consumers will be better connected and
better equipped for entertainment: at home or traveling, on one screen
or more than one simultaneously, and on demand or by subscription.
The dissemination of the Internet, particularly on mobile devices,
means that the number of users around the world will double over
the next ten years.
We are confident in Vivendi’s ability to capitalize on these tremendous
changes and win over the new media consumers of the 21st century. Our
group is present on every continent, with French roots, an international
reputation, and operations in certain high-potential regions (such as
Africa and Vietnam). With Canal+ and UMG, we have two lead brands in
their respective markets that are able to produce and distribute exclusive
content. Finally, Vivendi has already begun its digital metamorphosis
by investing in the latest generation of platforms. This is the purpose
behind the recent creation of “Vivendi Village”, which brings together
innovative digital services.
All these assets are invaluable in strengthening our presence in the new
geographic and digital markets. They must not, however, serve as an
excuse for immobility and inaction. 2015 must be the year that allows
us to move further, and more rapidly, in the transformation of Vivendi.
Above all, Vivendi must accelerate its transition from being a holding
company to becoming an integrated industrial group. This task, which
has become necessary as a result of the digital revolution that is
blurring the traditional boundaries between media, will reveal the
shared development potential of our different operations. It is based
on a few clear principles: a simplified organization, giving priority to
organic growth, maintaining a strict financial discipline and increasing
the cooperation among our businesses.
Vivendi intends to make an even greater commitment to talent, wherever
it is found and whatever it is. As a major media group known for its
exceptional expertise in music, TV, and film, Vivendi wants to go a step
further in finding and developing emerging talent. Because we also have
a duty to bring out creative potential in those who do not necessarily
have the resources to express themselves, we have decided to make
equal opportunity the central focus of this process, in a spirit of living
together with others.
Finally, Vivendi wants to pursue such initiative as a continuation of
its corporate social responsibility (CSR) policy and commitments. Our
priority is to strengthen Vivendi’s pioneering position in CSR, which is
regularly praised by non-financial ratings agencies, investors and by all
the group’s partners.
This roadmap is being supported by the energy and enthusiasm provided
by the cohesive team that best reflects Vivendi as a whole. A new era is
beginning for Vivendi, with one great ambition: to become tomorrow’s
European champion in media and content. For more than 160 years,
Vivendi has never ceased transforming and reinventing itself. We are
optimistic about the group’s ability to meet this new challenge.
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Annual Report 2014