Vivendi Chief Exec For MIDEM Keynote

Vivendi chief exec Jean-Bernard Lévy will deliver a keynote speech at MIDEM focusing on the new technologies and new economic models in the music industry.

Vivendi is one of Europe’s major media conglomerates and parent company to Universal, the world’s largest music company and the new owner of the U.K.’s Sanctuary Music Group.

It’s also a major shareholder in SFR and Neuf Cegetel, respectively France’s No. 2 mobile operator and No. 2 Internet service provider.

"Vivendi is currently testing numerous new economic models with success within its activities linked to music. The group is at the forefront in terms of convergence and utilisation of technologies," explained MIDEM director Dominique Leguern.

Although Universal is the biggest music company, it’s still feeling the pinch as much as the others.

It blamed "a difficult recorded music market" for first-half operating profits being down 25.4 percent to euro 220 million (US$301.3 million).

The company press statement that accompanied the figures drew some consolation from the news that Q2 revenues had slipped by .8 percent to euro 1.1 billion (US$1.5 billion) by saying it had nonetheless "significantly outperformed its competitors."

MIDEM takes place at the Palais des Festivals in Cannes, France, January 27-31.