The meeting began with an informal discussion with Stéphane Roussel, a Member of the Management Board and the Chief Operating Officer of Vivendi, who is also the Chief Executive Officer of Gameloft. Mr. Roussel provided an update on the latest developments of the Group and its subsidiaries.

He highlighted the increase in music streaming (listening to music over the internet), noting that Universal Music Group’s digital activities accounted for more than 60% of the recorded music segment in the first half of 2017. This rise in streaming opens up new markets for the Group, particularly in emerging countries.

Responding to speculation surrounding a stock market listing of UMG, Mr. Roussel said that this potential transaction is in the reflection stage.

As the CEO of Gameloft, Mr. Roussel recalled the synergies developed between UMG, the Group’s other subsidiaries and the mobile video games publisher. He detailed Gameloft’s outlook and specifically addressed the importance of Gameloft’s relations with the GAFA companies.

On Canal+ Group and, more particularly on Canal +, he commented on the new commercial offers launched in the autumn of 2016 and the partnerships with telecom operators.

A point was made on Dailymotion and the recent launch of its new version (new application, videos focused on four topics: news, sports, music and entertainment, priority given to premium content, and many local and international partnerships).

Finally, Mr. Roussel explained the strategic rationale behind the acquisition of Havas, emphasizing the expertise of the group in “Consumer Science”. This transaction will enable Vivendi to accelerate its strategy as a world leader in content, media and communication.

 

Review of the Group’s 2017 First Half-Year Results

After the discussion with Stéphane Roussel, Solange Maulini, Director of Press and Individual

Shareholder Relations, gave a presentation to the Committee on the Group’s results for the first half of 2017, detailing and commenting on the figures and developments recorded by the Group and its subsidiaries.

 

Focus on Havas acquisition

Laurence Daniel, Senior Vice President, Mergers & Acquisitions, described to the Committee the strategic reasons for and the positive financial impacts of the Havas acquisition, highlighting the contribution the worldwide leader in communication  makes to the Group’s value creation.

 

Reflection on the Letter to Shareholders

The Committee then worked with Christine Pigeyre, Vivendi’s Director of External Relations, on potential changes to the Letter to Shareholders (new sections, focus, periodicity, etc.).

The members took the opportunity to stress their need for information on the new tax on shares decided by the French government. A section dedicated to this topic should be created on the Group’s website.

 

Luncheon

A luncheon following the meeting allowed the members of the Committee and the Individual Shareholders’ Department to continue their friendly discussions. In particular, they discussed their various experiences at General Shareholders’ Meetings (location, organization, gift).