Vivendi Revenue Falls on Music Sales, Dollar

Vivendi Universal, which is selling its Hollywood studios and cable networks to General Electric Co.’s NBC, said fourth-quarter revenue fell 9% to $9.08 billion as music sales declined and the dollar weakened.

Revenue at Universal Music Group fell 19% to $2.1 billion. The unit suffered from a 17% decline of the dollar against the euro in 2003 and “difficult music market conditions.” Revenue at Vivendi Universal Entertainment declined 4% to $2.2 billion, hurt by the declining dollar.

Excluding the effects of the exchange rate, Universal Television Networks’ revenue rose 19%, helped by higher advertising sales at USA Network and Sci Fi Channel. Revenue at the Universal film unit rose 32% on that basis.

Vivendi’s shares rose 48 cents to $26.21 on the NYSE.