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Note 2. Segment data
Note 2.
Segment data
2.1. Operating segment data
The Vivendi group comprises several businesses that are leaders in
content and media. Each business offers different products and services
that are marketed through different channels. Given the unique customer
base, technology, marketing and distribution requirements of each of
these businesses, each business is managed separately and represents
the base of the internal reporting of the group. The Vivendi group has the
following main businesses:
p
p
Canal+ Group:
publishing and distribution of premium and thematic
pay-TV channels as well as free-to-air channels in France, Poland,
Africa and Vietnam as well as production and distribution of cinema
film and TV series in Europe. In 2014 and 2013, Canal+ Group notably
acquired Red Production Company (November 22, 2013), Mediaserv
(February 13, 2014) and Thema (October 28, 2014); and
p
p
Universal Music Group:
sale of recorded music (physical and
digital media), exploitation of music publishing rights as well as artist
services and merchandising. In 2014, UMG notably acquired Eagle
Rock Entertainment Limited (April 8, 2014).
Vivendi Management evaluates the performance of these operating
segments and allocates necessary resources to them based on certain
operating indicators (segment earnings and cash flow from operations).
Segment earnings relate to the EBITA of each business segment.
Additionally, segment data is prepared in accordance with the following
principles:
p
p
the operating segment
Vivendi Village
includes other operations,
notably Vivendi Ticketing (with See Tickets and Digitick), Wengo
(expert advisory services), and Watchever (platform in broadcasting
of audiovisual works);
p
p
the operating segment
Corporate
includes the headquarter’s costs,
net of the allocation of a portion of these costs to each of the
businesses;
p
p
intersegment commercial relations are conducted on an arm’s length
basis on terms and conditions similar to those which would be
offered by third parties; and
p
p
the operating segments presented hereunder are strictly identical to
the information given to Vivendi’s Management Board.
In addition, Vivendi’s interests in SFR and GVT, discontinued businesses
as of December 31, 2014 (please refer to Note 3), are no longer reported
in segment data as a result of the application of IFRS 5 –
Non-current
Assets Held for Sale and Discontinued Operations
:
p
p
the 2013 Consolidated Statement of Earnings and 2013 Consolidated
Statement of Cash Flows were adjusted to ensure consistency of
information; and
p
p
GVT’s assets and liabilities were reclassified as unallocated assets
as of December 31, 2014.
For a detailed description of the adjustments made to the previously
published Financial Statements, please refer to Note 31.
As of December 31, 2014, Vivendi also presented data categorized
according to four geographic regions, including France and the United
States.
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