Mesdames et messieurs. Ladies and gentlemen, dear shareholders, welcome to the 2022 Annual AGM of Vivendi Group. I am so pleased to meet with you in person here in this mythical hall, the Olympia. The last AGM we held in this setting in person was back in 2019, 3 years ago now. Can you imagine? Let me tell you a secret. I didn't really like that period when we couldn't really be in the same room with people. I just didn't like that time. You know, you can well imagine, certainly. AGMs via Zoom from our offices at the Avenue de Friedland were really sad as opposed to the great pleasure and the great time we have meeting with you in person like this morning. Let me begin the AGM by saying thank you to you.
Thank you, first of all, for coming in such great number this morning. Also, thank you to everyone who is following us on the Internet. I know there are many of you in France and throughout the world. Especially, I'd like to thank you for your support throughout this unusual period that we've coped with, and especially in the springtime of 2021. How could we forget the spring of 2020? I'll always remember the annual general meeting in April of 2020, at the beginning of this pandemic that we didn't know anything about, and it was really scaring us so much.
We were almost alone with my friend Arnaud de Puyfontaine at the head office of Vivendi in front of cameras that were being run by a technical team that was dressed almost well like in HAZMAT suits to protect from the virus. The streets in Paris were empty. The Place de l'Étoile right next door of Vivendi had no car traffic. What an experience. Imagine how happy I am that we were able to weather that crisis, that trial together, dear shareholders. Your support was extremely important, and I very much want to thank every single one of you. Individual shareholders, I'm so happy to be meeting with you as I see familiar faces here. Our shareholder employees, institutional shareholders, and the Bolloré Group main shareholder, and I would also like to say hello to Cyrille using this opportunity.
It's thanks to all of you that we've been able to implement a true long-term vision and be exceptionally agile considering the size of this group. Thank you very much. Congratulations. Now, we need to go through the formalities. Let me remind you, this AGM has been convened on this date. This invitation was published on April 6, 2022 in the Official Gazette and also in the Affiches Parisiennes on the same date. Also, letters were sent out to all registered shareholders. Behind me on the desk, you can see all the documents that have been made available to shareholders as per our rules and legislation. I'd remind you, the AGM is set to vote on the following agenda.
Approval of the parent company financial statements for fiscal 2021, approval of the consolidated financial statements 2021, approval of the Statutory Auditor's report, allocation of earnings for the year and setting the dividend approval information. Approval of Mr. Philippe Bénacin, renewal of Cathia Lawson-Hall, Ms. Michèle Reiser, and Madam Katie Stanton. Appointment of Madam Maud Fontenoy as member of the Supervisory Board, as well as authorizations and delegations pertaining to buyback of shares under ALO via OPRA and for employee shareholders plan. The provisional quorum 77.95%. Therefore, we've duly constituted the AGM. Some shareholders are still arriving. The final quorum will be given just before we start voting. Now to set up the bureau. We're very pleased to welcome Ms. Linda Hadjadj, representing the Compagnie de l'Odet and Lagardère.
Madame Florence Drillon, representing the employee shareholder savings plan. Our main shareholders has accepted to serve as tellers. They're present here in the front row, and they'll be joining us when we vote on the resolutions. I suggest that the AGM, as every year, to appoint as secretary, Mr. Frédéric Crépin, our general counsel, whom you know very well. Maître Fabienne Bich and Denis Calippe , officers of the court, have checked all of the signatures and are going to ensure compliance during voting process. Of course, I'd like to thank all the Supervisory Board Members for attending and their, especially, constructive contributions which provide a true added value to the group's strategy. Furthermore, we're fortunate to have at our side a top- quality non-voting Supervisory Board Member , Mr. Vincent Bolloré.
Also, since you're applauding him, let me just remind you that, two months ago now, on 17 February 2022, the Bolloré Group celebrated its bicentennial. It was set up by our great-great-grandfather, and I'm probably forgetting a great there, so correct me, 4x . Great-great-great-great-grandfather. Join me to wish a happy anniversary, this 200th anniversary to the Bolloré Group. At my side as last time, Ms. Cathia Lawson-Hall, Chairperson of the Audit Committee, Mr. Frédéric Crépin, whom you know, Mr. Hervé Philippe, member of the Management Board and CFO, as well as my fellow traveler, the Chairman of the Management Board, Arnaud de Puyfontaine. I use the opportunity to thank other members of the Management Board who are all here. I thank them for the excellent work they have been doing.
Dear shareholders, in my initial statement, I talked to you about the trial of this pandemic, the trying times. If I might also talk about the terrible events in Ukraine. I would also, on behalf of the Supervisory Board and on behalf of the entire group, I would like to express our most sincere thoughts to our 870 employees based in the country. They are showing remarkable courage. Obviously, this morning we have a special thought for one of our Gameloft employees, Oleg Slavsky. We learned of his death last week during a bombing, and he was just at his home in Kharkiv, and we learned that news, and we're very sad about that. Since the beginning of this conflict, our absolute priority has been to guarantee the safety of our employees, providing them both logistics and financial aid.
I'd like to very much thank and congratulate employees from neighboring countries who've shown many actions of generosity to assist their fellow employees. We're very proud of this great solidarity which we've seen within our group and the many initiatives that have been set up in all group entities. Now, of course, obviously, you might say to me the number one role of any company is to create value. Well, creating value for all stakeholders, shareholders of course, but also employees, customers, and partners. But we also very sincerely believe that a company can, and must play a role for society as a whole to improve the world that we're living in. This is why, I mean, this is the whole meaning behind our purpose, Creation Unlimited, which we made public last year. We're proud of our CSR actions via their program called Creation for the Future.
Our Chief of Legal Compliance and CSR, Caroline Le Masne de Chermont, will tell us more details about implementation of that roadmap later. During our last annual general meeting, that was last 22 June, 99.9% of you approved. I'm not rounding up. 99.9% of you approved a payout of 60% of Universal Music Group's capital and its listing on the Amsterdam Stock Exchange. This was a wildly successful operation. Arnaud will come back to this. For those of you, and us, who continue to be shareholders of Vivendi and UMG, if you put together the two shares together, they make up about EUR 36. EUR 12 for Vivendi and almost EUR 24 for UMG. EUR 36 compared to EUR 12 or so that your share price stood at before changing governance in 2014.
Since that operation, we've been focusing on developing the new Vivendi. I am convinced that we can continue creating a great deal of value in upcoming years. To that end, Vivendi as a group plays a key role in its various business lines with its 36,000 talents worldwide. A key role in three main strategic areas. First of all, to transform, to internationalize, and better integrate to really release energy and create value. First of all, let's talk about the transformation of our business lines in our group. If there's one business line that's transformed itself beautifully, I know you agree with me, it's music. At the beginning of the 2000s, most observers predicted that the whole music industry was going to disappear due to piracy among other things.
I remember talks with Arnaud de Puyfontaine, Vincent Bolloré, who rejected that, who didn't want to sell UMG group. At that time, I think we received an offer around EUR 7 billion. That was almost 10 years ago. Back then, many people thought Vivendi was crazy to reject that type of offer. Can you imagine 10 years down the road now, just EUR 7 billion for a company that in the end was valued at over EUR 45 billion during its IPO? This is because we were able to assist UMG to reinvent itself. We created opportunities in digital. We contributed to the skyrocketing of streaming platforms. This whole change in the landscape was beneficial to the entire music industry. Now understand me well, what we've achieved in music, we are currently achieving in all of our business lines. No exception to this.
We're exerting the same energy to leverage the growth of tomorrow. For instance, let's talk about Canal+ Group. Canal+ has been able to renew its content offering, its portfolio of sporting rights. Digitalization of myCanal has been a success. Many of you in this room for that matter, and I'm sure many of you, many of us are subscribing to Canal+. Raise your hand if you subscribe to Canal+. Look at that. Let me mention Maxime Saada, the Chief of Canal+, is seated in the first row there. Now, for those of you who are fortunate enough to be a subscriber of Canal+ and others that I hope are future subscribers of Canal+, you will agree with me that Canal+ is even better in many respects than Netflix. Don't you agree, Maxime? Now regarding Havas, during the crisis, it's shown its resilience.
It's gonna continue developing unique and breakthrough offerings. Editis, Prisma Media, Gameloft have added formats, innovative services, and Vivendi has supported them in their diversification. Even, let's talk about this since we're here at the Olympia. Our business of live performances and ticket selling, which we call Vivendi Village, has certainly been the business activity that was originally hardest hit by health restrictions. They've been able to propose new experiences, hybrid live performances, and this will be very interesting and beneficial after the pandemic. After transformation. The second focus in our strategy at Vivendi has been internationalization. I do not believe that today we can focus only on one single country or one single region.
We've seen the arrival of global platforms and the GAFA, as we term them here, the digitalization of use and content, major consolidation trends which have been going on throughout the industry. All of these reasons mean that we must, and I say must, develop our business outside of our borders to reach critical mass. Vivendi will continue supporting its business lines in their international development. Havas and Gameloft already have approximately 80% of their revenue internationally. Canal+, 2/3 of its subscribers are outside of France. Maxime will correct me if I'm mistaken, but this international success is a big part of the explanation of the excellent results we see from Canal+. The tie-up with the Lagardère Group will make it possible once we obtain the regulatory go-ahead and authorizations. It'll make it possible for us to strongly increase our international footprint, particularly in publishing.
Hachette is the number 3 global group in this industry. Of course, we'll very much be using Arnaud Lagardère's expertise and his team's expertise to develop the group and these business areas in future years. I use this opportunity to greet Arnaud Lagardère who's watching us on the web. Thank you. Being European, as I see it, is a major plus, a major benefit for us to develop internationally alongside American groups, very powerful corporations. You'll agree with me, they tend to make things fairly uniform, standardize their creation process at the side of major Chinese groups, whose culture today is still fairly distant from ours. We very much believe in the strength of the European cultural heritage and its wonderful diversity. We give greater freedom to authors in their creative process. We continue investing throughout the world and throughout Europe.
We've seen progress in recent years in Italy. There have been plus points. The conflict was settled with Mediaset. The situation is calmer now with Telecom Italia after issues that started a few years ago, you'll remember during the times of Elliott's activism. A third axis, third focus I'd like to emphasize today is integration. We're gonna continue adding more and more pathways between the various business lines of the group, talents in the group to support creative exchanges, innovation to boost new opportunities for business. Cross-fertilization, we're going to also be stepping up integration of our business lines, making it possible to reduce the holding discount and to create greater value for all shareholders. We know Vivendi very well.
I know it very well as Chairman of the Supervisory Board and also as CEO of Havas, and I can talk to you about the strength of this integration and that it's continuing to develop apace. If you don't mind, I'd like to now turn to all of our employees worldwide who are watching us on the web. They're really all over the world. I'd say to you, dear employees, wherever you may be located, I very much would like to thank you. I'd like to thank you for your continued support, ability to adapt always. Thank you for helping Vivendi move forward. It's a true honor to be living this adventure at your side. Thank you so much. Thank you.
These strategic focuses are even more indispensable and relevant today because we're seeing such great transformation in our business areas and such great challenges, and all of these things have speeded up. The economic situation is uncertain. There's the pandemic, there's the war, there's geopolitical uncertainty, there's inflation, logistics problems. Thanks to our strategy, thanks to the excellence of our teams and operations, thanks to the sound financial situation of Vivendi, and thanks to the support of all of you, shareholders, we are in a very good position to rise to these future challenges. Saturday evening, for those of you who were there, Jérôme Commandeur. You know Jérôme Commandeur, the comedian. He was on this stage doing his one-man show. Today, I'm very pleased to welcome our Chairman of the Management Board, Monsieur Arnaud de Puyfontaine.
Thank you.
Thank you. Thank you, Yannick. Very pleased to follow in the footsteps of Jérôme Commandeur and all the highly talented performers on this stage. Shareholders, good morning to you all. I'd like to concur with what Yannick said. It's a great pleasure to meet with you again here at Olympia. There's nothing like coming together after a year that has been very constrained by the pandemic. That's why we're delighted to welcome you. What can you tell us about the year 2021? 2021 was a very good year for our group. I'll let Hervé Philippe present our performance later on. From my side, I'd like to stress how much 2021 was a defining year of strong acceleration in the implementation of our strategic plan.
Since 2014, we've been focused on an ongoing transformational project of our businesses, creating value for all our shareholders. As you can see on this chart, our share price has risen by 191% dividend reinvested since June 24, 2014, as against +85% for the CAC 40 benchmark index. A major transaction in line with this ambition particularly marked the past few years, as you said, Yannick. The distribution of close on 60% of UMG's capital and its listing. This was a successful transaction in more than one respect. Firstly, because it was revealed as a follow-up to the disposals in 2021, the strong valuation of the company, and that under the gaze of certain skeptics coming in at over EUR 45 billion. Next, as you were able, you shareholders recover pre-tax over EUR 27 billion in UMG shares.
Lastly, because it allowed, as Yannick said, to increase the value of your portfolio. Over and above Universal, the year 2021 also the soundness of our strategic decisions. Look at Canal. Some were describing it as Canal - EUR 400 million in losses for the channels in 2016, and half a billion EUR in profits for the group in 2021 is more than ever Canal +, thanks to international expansion. Look at Havas. Strongly and steadily generating cash since it entered the group in 2017. Between EUR 200 million and EUR 250 million every year reemerged strengthened from the crisis with organic growth close on 11% in 2021. Creating value for our shareholders is our ongoing obsession. That, of course, goes hand in hand with creating value for all stakeholders and the company as a whole while continuing to be economically performing.
Vivendi pledges to be a responsible and sustainable company. I won't dwell on that because as you said, Yannick, Caroline Le Chermont , as well as the business heads, will tell us more about that later. Thank you, Arnaud, for that great presentation. You mentioned the main activities of the group. Is it the same value creation approach for all the others? Absolutely. Ditto for Editis, for Gameloft, for Prisma Media. We're fortunate in having a long-term approach that allows us to invest money and effort to ensure the future successes of businesses of whose potential we're convinced of. GVA Broadband supply in Africa, Dailymotion or live shows and ticketing. It's in that perspective that we are considering our holdings in Southern Europe. In Spain, we hold 9.9% in Prisa, a leader in media and education in the Spanish-speaking world.
Owner notably of El País daily and the wonderful company of educational content, Santillana in South America, and of course, Italy. Italy that remains more than ever a priority for the growth of our group. Turning now to Mediaset. As you said, we've put our litigation behind us and we've supported the creation of MediaForEurope. We have to get back on the road to success Telecom Italia. We hold 23% of its capital. Pietro Labriola, the new amministratore delegato, has our full support to recreate the value of this historic company in Italy. All options are open to date to reach that goal. The new strategic plan presented is ambitious. Vivendi remains determined to play its role as a long-term industrial shareholder in this company and more widely in Italy.
I would add that when we dispose of assets, we do it by generating substantial capital gains. Remember GVT 2014, 2015, Ubisoft or Fnac Darty. Thank you, Arnaud. We of course clearly recall that. What do you see as the main strengths of the group to continue this remarkable process of value creation? Thanks, Yannick. Well, of course, the outstanding talents that make up our group and with them, as we did with Sir Lucian Grainge in the success of Universal Music. Yannick, you and I, we rely operationally on a high caliber management team that is also united. Maxime Saada for Canal+. Michèle Benbunan for Editis. Claire Léost for Prisma Media. Of course, all the business group heads. Some are here with us today, who are motivated by Vivendi's project.
I'd also, of course, like to thank all my friends and members of the Management Board who have worked tirelessly to achieve the results that are presented to you today. Furthermore, our group possesses a major advantage over its competitors. Its unique positioning at the crossroads of the major cultural and creative industries, and we're fortunate in being able to rely on strong and distinctive strengths. The first, of course, our ability to attract and develop the best artists and produce the best content. The year 2021 has once again demonstrated that in broadcasting, several StudioCanal movies were great box office hits, such as Bac Nord. 2 million entries in France. In advertising, Havas agencies received over 1,400 awards and accolades worldwide. In publishing, Editis ranked 10 of its writers in the top 30 of French-speaking modern fiction authors, the most widely bought.
Group plays a key role in the outreach of French culture by exporting books into 128 countries and the disposal of translation rights in 57 countries. Our second asset is our investment power in culture and creation. By way of an example, in 2021, Canal+ invested EUR 3.4 billion in broadcasting content. These significant investments make it possible to both renew our stock of content and to finance creative industries over time. Vivendi is, in fact, a key partner of cultural players, as evidenced by the agreement signed last year with French cinema organizations or support to bookstores during the pandemic. Our third asset, our group has powerful brands that reach out to wide audiences. The Canal+ Group numbers close on 24 million subscribers worldwide. Prisma Media reaches out to 40 million French people every month and has 4 million subscribers on TikTok.
That makes it the French media group the most widely followed on this social media with a particularly young audience. As to Gameloft, 58 million players on average play its games every month worldwide. These ties woven with varied communities is important to allow us to gain a better understanding of their behavior and better meet their expectations. Fourth asset, its international potential. Several of our units already have international renown. Havas present in over 80 countries, just bought a new agency in China. Front Networks, we're also investing specifically in certain high potential markets. I'm thinking in particular of Africa, the group via Canal+ and its 6.8 million subscribers at the end of 2021 is historically present there. Final asset, last but not least, the uniqueness of our integrated model. Vivendi doesn't just juxtapose major assets. It makes them grow together and enhances its common potential.
The past few months, many projects have emerged between our entities. Editis and Canal+ launched Nathan TV, the leading educational channel in French-speaking Africa. StudioCanal has several projects to adapt Editis books, including a book by Marc Levy, Toutes ces choses qu'on ne s'est pas dites under the helm of Havas. An offer with Editis and Prisma Media was created to support the resumption of responsible global tourism. There are many examples. To these five assets, I need to add a 6th, without which none of this would have been possible. The constant support of our key shareholder, Bolloré Group, that guarantees the stability and the necessary time to achieve our strategic project. In fact, the group is familiar with the long-term perspective because as Yannick said, it's just celebrated its bicentenary.
Of course, I'd like to acknowledge your support, dear shareholders, and thank you warmly for supporting us over time.
Well, thanks very much, Arnaud. Would you perhaps agree that for our shareholders here and following us on the net to look to the future and to see what the coming period holds for us? Yes. Well, we're addressing with confidence and determination act two of the Vivendi plan. The coming months will be exciting. Our friendly bid on Lagardère has been open since the 14th of April. In the case of a successful outcome, the integrity of Lagardère will be preserved and Arnaud Lagardère will remain CEO. I'd like to acknowledge him.
The tie-up with Lagardère, subject to the support of the European Commission, is going to accelerate our project to build a leader in the media content and communication sector by combining the activities of creation, production, and delivery. Furthermore, by combining complementary activities in terms of product portfolio and geographic location to continue strong industrial ambitions through major investments in France and abroad in retail, publishing, and media. It's an ambitious plan to build a robust group that can afford to invest in order to sustain and transform the cultural and creative industries. More specifically, on publishing, our ambition is to build a global leader to propagate the renown of culture, the writers, bookstores, and all the stakeholders so that collectively we can address the challenges that our sector is facing.
As to the rest, we know, of course, that we are evolving in health, geopolitical, or economic contexts that are uncertain. We're sufficiently strong to weather any new crisis, thanks to our rigorous business management or to face over time the current or future difficulties, as was the case in Italy. I can assure you that 2022 and the out years will be, whatever happens, devoted to continuing to roll out our ambitious development project in culture creation, constantly changing our businesses and value creation for all our shareholders. Our strategy is rolled out in each of our activities with all the nimbleness and dynamism that characterizes our group. I'd like to conclude by warmly thanking our 36,000 employees who fly the flag of Vivendi in the four corners of the world like Yannick.
Have a special thought for the colleagues of Gameloft and Havas in Ukraine. Thank you all. Thank you, Arnaud. Now, please, to welcome our legal compliance and CSR head, Caroline Le Masne de Chermont. [Foreign language], Caroline.
Bonjour.
Good morning, Caroline.
Good morning, Yannick. Good morning, Arnaud. Well, as I was saying in my introduction, our group is very committed on the environmental and societal front, and that for almost 20 years now under supervision of the CSR committee and the members, Cardoso here. The group continued to step up its effort in 2021 in aligning them to the major challenges that our group is facing. Caroline, could you share with us some of the key CSR highlights of our group in 2021? Yes. Dear shareholders, last year, I was able to present Creation for the Future, the new CSR for Vivendi, put in place in 2021. The program revolves around three pillars that champion our ambitions in terms of environmental, societal, and social responsibility. In 2021, we continued to roll out Creation for the Future across the group.
All our units are henceforth equipped with their own CSR program as part of the group program adapted to the specific context of their business and identity. In 2021, we also intensified our CSR initiative. Vivendi plans to play an active role in transitioning on the environmental and social front. The main asset the group has, of course, its content. In 2021, editors published over 110 works on the environment as against 30 a few years back at Havas. Over 80 campaigns were performed pro bono for major causes such as the mistreatment of children and the power of content to project a more diverse and inclusive world. It's the purpose of our approach when we support narratives, supporting inspiring women as Canal+ did last year.
The former Afghan refugee becoming a player of PSG, Nadia Nadim, or the character of Sara in the Validé series. These are examples of initiative for the better world creation for society. The second pillar of our CSR strategy. At the heart of creation, the engine of creativity is diversity and content, as I mentioned. Within our teams, these key issues of diversity, equity, and inclusion are covered in the third pillar of our program, Creation with All. In this respect, in terms of equality between men and women, we can acknowledge the work of our businesses that have all made headway in terms of gender equality. The number of women in the governing bodies of our group has increased 35% last year on average, and we plan to bring that figure to 40% next year. Equal opportunities next.
This year, we have Vivendi Mentorship for young people who need support to find their way or enter the labor market. This large-scale program is being rolled out across all our colleagues in mainland France to begin with, to allow them to become mentor for these young people on their own working time. It's a major investment by Vivendi in favor of youth employment.
Thanks very much, Caroline. The year 2021, as we know, unfortunately, was marked by extreme weather events, and the latest conclusions of the IPCC are particularly alarming. Could you tell us what Vivendi plans to do to fight against climate change? Yeah. It's true, the IPCC experts are adamant human activity has a key impact on climate change. Faced with this urgency, the share for businesses is key.
2020, we pledged with the Science Based Targets initiative to align its decarbonization initiative on the Paris Agreement. 2021, we submitted our carbon reduction plan with targets. Once it's endorsed, we'll make it public. In the meantime, as part of the Creation for the Planet program, we've multiplied actions to reach our target. We have a clear will. We want to avoid, reduce, and offset our greenhouse gas emissions. First step, reduction of 30% of our emissions by 2025. For that, 18% of the group's electricity is already based on renewables. That's twice what it was 3 years. We'll accelerate. On the buildings front, over 20% of our head count already covered by ISO 14001 or ISO 50001. We'll continue down that road.
Furthermore, each of our units is committed in the fight against global warming, depending on the specificities of its businesses. You'll have some illustrations later on. Thanks very much, Caroline, to you and all the management teams on these very important issues. Yes, my thanks also to all the managers of our units as well as all the Vivendi teams. Their individual commitment and motivation are key to the collective success of our CSR initiative. Thanks, Caroline. Let's now review in detail the results of our group for that. I invite Hervé Philippe to come and join us. Bonjour, Hervé.
Good morning, Hervé.
Good morning, Yannick, Arnaud. Ladies and gentlemen, shareholders, good morning to you one and all.
Hervé, could you please talk to us about the highlights and the annual results?
Absolutely. It's up to me to talk you through the financial statements for financial year 2021 by beginning with the highlights. First of all, these financial statements, as you'll see, the new look of Vivendi after the distribution of UMG shares. Revenue and operating income for UMG were withdrawn, and the scope we're presenting is focusing on the current business activities of Vivendi. The accounting impact of UMG distribution as a specific line item result of discontinued operations, which is a total of EUR 25 billion. Next, further important feature of our 2021 results, a strong recovery in our business activities. Vivendi revenue is up by almost 10% compared to 2020.
I mentioned compared to 2019, performance is also remarkable, growth of EUR 825 million, which is up 9.4%. EBITA has more than doubled. Compared to 2019, this is an increase of more than 70%. I'll come back to that point in a few moments. I'd like to begin by talking about the consolidated income statement as per IFRS. EBIT, or operating income, has grown by 63% in 2021, driven by very good performance of the business lines. I'd like to draw your attention to three important lines underneath EBIT. First of all, income from financial investments. This year, it's EUR 150 million, which is the dividends received from our minority stakes. Underneath that, a line called other income, financial income and expenses.
This includes, among other things, the impact of an impairment, EUR 0.20 per share, on our stake held in Telecom Italia, a total amount of EUR 728 million. Next, under the line, net income from divested entities. That's the impact of the distribution of UMG. This line includes the net results of UMG up until 22 September, which is EUR 573 million, and the deconsolidation capital gain of 70%, meaning EUR 724.8 billion. Net income we see therefore is EUR 24.692 billion. I'd like to remind you here that, due to the IFRS standards on consolidated financial statements, this does not include the EUR 5 billion related to two divestments of 10% of UMG conducted in 2021.
These were all booked as reserves, but I can assure you these were actually received in cash. Next slide. Here we're showing you a second adjusted income statement, which is adjusted for the exiting of UMG as well as the impairment of some of our stakes. This adjusted income statement is a better reflection of the actual business performance of our current scope of Vivendi. The EBITA adjusted operating income, EUR 700 million in 2021, including the proportion of pro-weighted results from our stakes in UMG and Lagardère totaling EUR 52 million. All in all, the net adjusted income for our business line is EUR 649 million, which means it's doubled compared to 2020. Now let's look at the consolidated balance sheet for the group.
Here, though it's been impacted by removing UMG from the scope, remains, continues to be very strong. Consolidated shareholders' equity, EUR 19.1 billion. On the other side, financial assets, EUR 10 billion, EUR 10.1 billion. The net cash position is + EUR 348 million. I'll come back to talk to you about the change in our cash position in a few moments.
Thank you very much, Hervé. Could you also talk to us about the various stakes we hold?
Yes. Above and beyond the business lines we hold to the tune of 100%, we also have various other stakes, four of which are equity affiliates representing all in all a value of over approximately EUR 8 billion as of 31 December 2021. Contribution to our profits of these stakes we hold, EUR 70 million.
Vivendi also received EUR 72 million in dividends. In addition to the equity affiliates, we have a range of other stakeholdings, minority stakes, and we can see them on the screen here. All in all, these holdings in our portfolio represent available assets of EUR 1.4 billion as of 31 December 2021. Now I'd like to talk to you on this slide, where we talk to you about change in our cash flow. Net cash position at end of December 2021 is + EUR 340 million versus a net debt of EUR 5 billion at the end of 2020.
This improvement can be explained mainly by the cash in of over EUR 6 billion after two divestments of 10% of UMG, plus the exiting of UMG's debt from Vivendi's scope, improving the situation by EUR 1.7 billion. Cash out, this includes taxes paid on these UMG deals reaching over EUR 900 million. Furthermore, we paid a cash dividend to shareholders, a total amount of EUR 1.3 billion. These were dividends and share buybacks. Furthermore, we made financial investments. Inter alia, there was the acquisition of 17.5% stake in Lagardère, EUR 600 million, also Prisma Media. Lastly, cash generated from the businesses, CFFO, EUR 700 million in 2021.
Thank you, Hervé. Could you now give us a brief overview of the good performance of our main business activities?
Yes, of course. Only too happy to begin.
You can see on these two charts that all businesses contributed to this significant improvement in revenue and EBITA. Inter alia, thanks to renewed strong sales momentum as well as the cost adjustment plans which were set up during the health crisis. More specifically, Havas, Editis, and Vivendi Village ticketing business recovered very significantly. Furthermore, Canal+ continued improving its profitability. Now let's look in greater detail at the performance of the main businesses, beginning with Canal+. 2021 saw very good commercial performance. The portfolio of subscribers for Canal+ Group continued growing, reaching 23.7 million at the end of 2021. Maxime Saada will talk to you about this more in a few moments. Now let's talk about Canal+'s financials. Strong growth in its profitability. EBITA, before restructuring costs at Group Canal+, goes above the EUR 500 million mark. Versus 2019, it's up 15%.
Next slide. Here we'll talk about Havas. It has a balanced portfolio. All geographies in 2021 saw very good performance. Various sectors. Havas still holds a strong leading global position in health and wellbeing. The remaining portfolio is very well balanced in terms of the world distribution. Next, we have the financials of Havas. Operational profitability 10.7% in 2021. This is greater than its level in 2019. Havas booked many additional clients, won many additional clients, and saw major advantages from its transformation and cost adjustments which had begun in 2020. Editis. 2021, the publishing marketplace reached record levels. That's in exceptional context. Editis' performance was also record performance. Its revenue reached EUR 856 million, up 18% versus 2020 and up 17% versus 2019.
Lastly, going through various business lines. On this slide, we see other businesses which are consolidated. Prisma Media joined Vivendi on 31 May last. We can say its integration has been a success. Over a 12-month period, Prisma Media revenue over EUR 300 million, EBITA EUR 30 million. Gameloft. 2021 was a major turning point. Growth in gross margin by more than 15%. Adjusted net income is positive in 2021. By the same token, Vivendi Village in 2021 saw a strong recovery in ticket sales by See Tickets. Its revenue multiplied by two, reaching EUR 100 million. Lastly, new initiatives, which includes the platform Dailymotion and GVA. Their revenue together is EUR 89 million in 2021, which means a growth of 37%.
Thank you, Hervé. Now tell me about Vivendi SE's results and balance sheet.
Talking about Vivendi SE, which is the parent company. Let me talk to you about its financials. First of all, the balance sheet of Vivendi SE as of 31 December 2021. The balance sheet is very strong. Shareholders' equity of almost EUR 22 billion. Now the earnings of Vivendi SE, the results are typical of a parent company. Financial income coming mainly from dividends received, which is approximately EUR 500 million. This year the financial result is impacted by impairments in the financial holdings from Telecom Italia and Gameloft mainly. But aside from that, the bulk of results this year are capital gains from distribution and sales of UMG shares. The total amount here is EUR 33.2 billion.
Net income of Vivendi SE, EUR 31.5 billion in 2021. Allocation of these results, of these earnings. This will be under Resolution 4. A cash payment for financial period 2021, an ordinary dividend of EUR 261 million. Considering the interim dividend, 22.1 billion euros approved at the AGM 22 June under the framework of UMG payout, the total dividend for 2021 will have been EUR 22 billion, 361 million. It's proposed to you to allocate the remainder that's not paid out for fiscal 2021 to other reserves, EUR 7 billion, and then retained earnings item will be EUR 2.1 billion. For each shareholder, we're proposing a dividend of EUR 0.25 per share, paid starting on 28 April 2022.
In addition to this dividend, Vivendi shareholders who've held their UMG shares in September 2021 will also have received 40 cents per share paid by UMG in October of 2021 and in June of 2022. This represents a total dividend of 65 cents per share for 2021, as opposed to 60 cents per share for 2020.
Thank you very much, Hervé. Just briefly, Vivendi Group this morning gave its press release announcing Q1 revenue figures. You can look this up on the site. What's the takeaway point from this?
Well, as you can see on this slide, the beginning of the year is strong. Revenue up more than 13%, reaching EUR 2,377 million. Canal+ doing well. Growth +6.5%.
Havas, Gameloft, Vivendi Village also achieved very good performance, showing revenue growth in excess of 10%. Editis, a slight dip in its revenue, but this is after a record 2021. Our most recent acquisition, Prisma Media, contributing EUR 73 million. Now, of course, you can f ind the details and the press release on our website. Thank you for your attention.
Thank you very much, Hervé. That was crystal clear as always. Now, I'll know if you agree. Let's give the floor to the representatives of the various group business lines, who, among other things, talk to us about the transformation which they are implementing in their various business lines. As every year, to begin this new sequence, it's our pleasure to welcome Maxime Saada, Chairman of the Canal+ Group Management Board and Chairman of Dailymotion.
Bonjour. Bonjour Maxime. [Foreign language]
Hello. Hello, Maxime Saada.
Good morning, Chairman. Thanks for welcoming. Ladies, gentlemen, shareholders, delighted to be with you today, this mythical Olympia Hall, to go back on the events of 2021 of Canal+ Group. A year marked by acceleration and paving the way to the future. Before going back on the transformation of the group, let's discover together what we've built these past few years.
Whoa. You were excellent. You too. I tested 2. Do you copy? You really think you're something. This clip is a chance of a life. Whoa. I'd say this is going very well. Bonjour, Tony Parker.
That's pretty good, don't you think, to quote Arnaud and Yannick. Transformation's part of Vivendi's DNA, delivered through the following major changes over five years. Firstly, we shifted the center of gravity from Canal+, as Arnaud said, from France to international. We rolled out Canal+ in over 40 countries worldwide. We more than doubled the number of subscribers, going from 11 million in 2015 to close on 24 million end of 2021. 2/3 of our subscribers are today outside France with three main geographies. Europe, where we number close on 16 million subscribers, where our base has doubled over the period. Africa, where we number close on 7 million subscribers, and our base has tripled over the period. Lastly, Asia, 1.3 million subscribers.
This growth in our subscriber base was key to invest more in content and tech and rival the greatest international players. In 2021, we reached three major milestones: initiated our activities in Ethiopia, country of 115 million inhabitants, we launched in Austria with the leading telco, and lastly, we became the leading shareholder of MultiChoice, the leader of pay TV in English-speaking, Portuguese-speaking Africa, 16 million subscribers in 15 countries that fit fully with our own footprint. Second major transformation, we accelerated in the production of content that is proprietary and differentiating. StudioCanal, our production and delivery unit, plays a key role with its 10 production companies in Europe that produce in France, U.K., Germany, Spain, Poland or Denmark. We launched 35 homegrown series in 2021, among the original creation, Validé in France, 70 million views, a record for France.
Our first original series in Vietnam, Tiger Mom. We accelerate in 2022, going from 35 to 50 dramas, including La Flamme by Jonathan Cohen will be launched in a few days time, and you saw the first images of Django and Marie-Antoinette spin-off. StudioCanal, 20 films produced worldwide. Major successes, French, U.S., U.K. or German movies. In France, we placed 3 movies in the top 10 of French movies with the greatest viewership, Bac Nord, Boîte Noire, Le Loup et le lion. We won 2 César Awards. Best Actor, Benoît Magimel, De son vivant. We'll be part of homegrown films that will be creating the event, Paddington 3 that we're eagerly waiting, especially Simon Gillham. November, Jean Dujardin from the Bac Nord or Retribution, the next Liam Neeson. That won't be a romantic comedy.
Lastly, we acquired in 2021 SPI International, present in over 60 countries that will beef up the cinema proposal of Canal+ in particular in Eastern Europe. Third transformation, we've secured long-term access to key content for our subscribers. Up until recently, rights securitization was over a short time period. Today, large part of our essential rights are already secured through the end of the decade. Our sports, for example, the Champions League is secured through 2024. The semifinal, Manchester City, Real Madrid, screened tomorrow on Canal+ will be screened in close on 30 countries. Today, we're the leading broadcaster of the Champions League. Premier League is secured through 2025. The Top 14 Rugby through 2027. Formula One, MotoGP, won records yesterday through 2029. We're even going to 2030 for the World Rally Championship. Cinema now.
Our new agreement, as Yannick said, with the industry signed on 2 December, allows our subscribers to see movies exclusively only 6 months after their screen release, whereas they had to wait 12 months back in 2018. That's a major breakthrough. It also applies to French movies as well as U.S. movies. After Disney, Fox or Warner, we've secured the films of Paramount over a very long period. For a few days now, subscribers can enjoy the latest James Bond, No Time to Die, 6 months to the day after the screen release. Fourth transformation, we built a unique model combining the strength of our model of creator to that of aggregator. After Netflix, Disney+ and StarzPlay, Paramount is the 4th U.S. platform that we're including in our offer. You no longer have to choose between Canal and Netflix, dear Yannick.
myCanal is an access gateway to Canal+ and Netflix, but also Disney+, StarzPlay, beIN Sports, Eurosport, OCS, and soon Paramount+. It has no equivalent worldwide. 5th and final transformation, we built a platform to the highest international standards with myCanal. Tech has become one of the central pillars of Canal+. Every year, we invest more than EUR 900 million. 2,000 people exclusively devoted to that pillar. myCanal offers a unique experience, live as well. 120,000 contents available at all times. We've aggregated 2 billion views throughout the world this year. 2022, a new record. myCanal is available in 30 countries after its recent rollout in Africa. These five transformations have borne fruit as shown by the financials presented by Hervé Philippe. Our subscriber base and revenue profitability up for the 5th consecutive year.
Looking at our operating profit, we've gone from EUR 240 million in 2016 to EUR 480 million in 2021. Like our subscriber base, our profitability will have doubled these past few years. Canal+ has emerged as a group to be reckoned with worldwide, the only one based in France, even in Europe, with such a global footprint. We're gonna grow this footprint to reach the target announced of a minimum of 30 million subscribers by 2025. We're gonna accelerate our organic growth, continue to look at all opportunities for M&A across continents, thanks to the unfailing support of Vivendi.
Thanks, Maxime. Well done to the team. They're absolutely amazing results. This slide is truly impressive. What's the situation of CSR? Is there a defining project you'd like to tell us about?
Yes. These key issues concern us to the full. At Canal+, we've launched two initiatives briefly over 4 years, two committees on the fundamental issues of gender equality, inclusion, diversity, and lastly, preservation of the planet. On this latter point, over 30 years ago, Canal+ began to recover former set-top boxes in order to recycle them. This eco-responsible initiative is continued with Global One. Our next set-top box with green equipment and a plastic casing that can be recycled 87%. We'll also be reducing the power consumption levels by 40%. Another example, Canal+, myCanal, it'll be the largest eco-responsible platform by reducing 30% the carbon consumption of video by 2023. Those are a few examples. They're all part of the ambitious roadmap presented by Caroline earlier.
Thanks, Maxime. Could you maybe say a word about the turnaround that's underway at Dailymotion?
Yes, of course. In 2022, online videos will represent over 80% of internet traffic. That's 15x more than five years ago. Dailymotion, our global delivery platform for content, has radically transformed to derive the full benefit of this wonderful growth. First transformation, moving from an audience generated from non-premium content, therefore risky for advertisers, to audience generated on premium content edited by professional media. In France, for example, 90% of our national editors already trust us. Le Parisien, Le Monde, Le Point, L'Équipe, RTLB in sports, and we signed new partnerships in 2021 to accelerate the trend with Webedia, Doctissimo, and Marmiton, who've also joined us. At the same time, we strengthened ties with our sister companies 'cause all the prestigious media of Prisma Media, from Gala, Voici, Femme Actuelle, now use the Dailymotion player.
Dailymotion in 2021 has reached over 350 million monthly users worldwide and 2 billion video views per month. 80% is on publicly published videos as against 1/3 only in 2017. Second area transformation, a proprietary tech platform to directly monetize our audience without going through third parties. This tool is constantly changing one of the key drivers of growing our revenue in 2021, as you mentioned earlier. These encouraging results go hand in hand with major progress to make Dailymotion an inclusive and responsible company. Our professional equality index now stands at 91% in 2021, up 2 points versus 2020. Our gender score to calculate inclusion, one of the highest in the 50 in tech ranking. Priority for 2022 will be to reduce still further the environmental footprint of the platform in line with Vivendi's global ambition. Thanks for your attention. See you soon on Dailymotion.
Thank you, Maxime.
Yes. Thank you.
We'll be hearing a brief advertisement now done by the agency called BETC, part of Havas Group. Good morning, Raphaël.
Good morning, Arnaud.
Raphaël, the industry of communication, and Havas Group especially, have been able to reinvent themselves during this unique period we've just coped with. Can you talk to us about this major transformation which has taken place?
Absolutely, Arnaud. In recent years, Havas has not only been able to adapt to a difficult context during the pandemic, but has also been able to continue investing to actually overcome this period and be even stronger after this unusual time. First of all, I'd like to thank Vivendi. It has really helped us step up our transformation. I'd use the opportunity to thank you, Arnaud, for the support you've given us during this process of change and with our most important clients.
Being part of Vivendi has made it possible for us to always focus on the long-term view and place customer satisfaction at the very core of everything we do. Being part of Vivendi also changes the situation in terms of ramping up our scale and in terms of international platforms, for instance. Most importantly, I'll emphasize, being part of Vivendi, a leader of entertainment media, has an impact on the way we do our business in terms of understanding public taste and of course, in terms of media upheaval. This has meant we've got a unique positioning in our industry at the crossroads of communication and entertainment. It makes it possible for us to invent new ways of creating advertising, able to capture and keep consumers' attention in this world which is full of messages and images, as you all know very well.
Every single day, we find our inspiration in creations from all the group business lines: movies, series, video games, books, live performances, and of course, the media. Very specifically, thanks to this posture as a pioneer at the very core of who we are in our DNA, in recent months, we've launched some highly innovative and high-performance solutions. A couple of examples, and important ones. The first innovation, we've contributed to the success of the benchmark, myCanal, a digital platform that Saada alluded to. That really helped us move forward very quickly at Havas CX, which is a specialized network, and we've already made a breakthrough with the acquisition of a leading agency in Italy, the U.K., as well as Germany.
Our group's also been able to move in a big way into e-commerce, a very successful launch of Havas Market, which now is already the agency which has got the most awards in the marketplace, and it's collaborated with Editis. I'd like to very much, of course, thank the e-commerce experts who've made a contribution here. Our teams have also shown tremendous inventiveness, which was recognized by the market, with very innovative hybrid digital events in an industry which was highly impacted by health restrictions. Here, as well, the support of Canal+ in their production has assisted us, and I'd very much like to thank them for this. We've also boosted consulting growth more than strong, and international expansion of our solutions in advisory, strategy, and innovation.
The targeted acquisitions strategy focusing on high added-value expertise has been particularly strong since our last AGM. Lastly, you know that we always intend to be ahead of the loop in the area of innovation. I'm convinced that right now you're hearing a lot about NFT, metaverse. These are fashionable buzzwords in our industry. Well, I can happily announce to you that we're state-of-the-art in these virtual subjects and digital subjects. We support our clients on blockchain, cryptocurrency, NFTs, and also cybersecurity. Even more recently, we invested in the metaverse. We bought a virtual land of 9 hectares for Havas and Vivendi.
Thank you, Raphaël. Well, maybe next year our AGM might take place in the metaverse with our avatars.
Okay, we accept that challenge. We'll start working on that just after the AGM, Arnaud.
Shareholders, I would like to say to you that this ongoing transformation has really been beneficial. 2021 for Havas was a record year in terms of number of new clients, but also in terms of creative awards that we won, showcasing the group's talent, and that's the real driver of our transformation, and I very much wanted to thank them here. For all of these reasons, Havas Group is stronger today than ever before. A moment ago, we were talking about inspiration that we find from video games. Now, let's take a look at a campaign which is a great illustration of what I was saying. This received the most awards worldwide, and was ranked by WARC 2022.
During the first lockdown, one of our clients, the association called L'Enfant Bleu, wanted to find a way to assist abused children to sound the alarm when there was any violence in children's homes. The agency had an idea of creating an avatar in a location where children felt protected from the influence of their parents, video gaming. Let's look at the campaign together.
[Foreign language] Suspected child abuse cannot remain silent. Children are suffering in silence. Il se rend là où les enfants maltraités se sentent en sécurité pour libérer leur parole. Les enfants ont été invités à ajouter L'Enfant Bleu par des streamers et influenceurs en qui ils ont confiance. N'hésitez pas à vous adresser à L'Enfant Bleu si vous êtes victime ou témoin de violence familiale.
[Foreign language] L'Enfant Bleu, c'est un personnage qui est géré par des gens de l'association 24 heures sur 24, 7 jours sur 7. Les enfants se sont appropriés le personnage. Ils se sont informés mutuellement de son existence. Entrez le pseudonyme. Les amis, vous allez taper L'Enfant Bleu de competitive. C'est une association pour protéger des enfants maltraités. Afin de faire réagir les autorités, nous avons révélé l'avatar au grand public. Le personnage s'est déconnecté, mais sa mission est devenue virale. Son histoire a même atteint le gouvernement français.
[Foreign language]. Nous allons mettre en place une petite task force avec policiers, gendarmes, les associations et moi-même pour réfléchir à comment nous pouvons être innovants en la matière pour aller toucher les enfants là où ils se trouvent. Une contribution légitime et dont on ne peut pas se passer. Mais surtout, nous avons sauvé des vies.
Wow. That was strong. Magnificent campaign. We can see the group's creative abilities for this extremely important cause. Congratulations to all the teams. Havas is a highly committed group. Now, if you were to tell us one single key initiative or CSR event in the recent year, what would it be?
Arnaud, that's a difficult task because we've got so many wonderful CSR initiatives worldwide. Often, we are mentioned. We're proud of this as an example as one of the most virtuous groups in the communication industry. I can say today. I'd like to emphasize a cause which is very important to us at Havas, which is gender equality. I'd like to show you a video which we thought was really funny, and it's striking.
[Foreign language] Vous n'êtes pas stressé ? Non. Si. Si? Ça va bien se passer. J'espère. Très beau costume. Je vous remercie. Vous êtes très beau. Nicolas Hieronimus, Jean-Marie Tritant, Thierry Déau, Cédric de Bailliencourt, Philippe Zaouati, Xavier Niel, François-Henri Pinault, Frédéric Mazzella, bonjour. Bonjour. Bravo pour votre parcours exceptionnel. C'est très rare d'occuper de telles fonctions pour un homme de votre âge. On n'est pas habitué. Vous avez droit à quel genre de commentaires ? Parce que ça a dû en étonner plus d'un.
[Foreign language] Non, en fait, je ne me pose pas cette question-là. Vous trouvez pas que c'est encore dur pour un homme, alors qu'on est en 2022, de privilégier sa carrière ? Pas trop. En 2022, moi, ce qui a été difficile pour moi, c'est de trouver le bon équilibre entre la vie personnelle et la vie professionnelle. C'est pas évident. Et là, si vous pouviez vous adresser à des jeunes hommes qui pensent même pas à se lancer dans ce genre de carrière, qu'est-ce que vous pourriez leur dire ? Je m'adresse jamais qu'aux jeunes hommes, je m'adresse aux jeunes gens. Vous avez un poste dans lequel vous doutez certainement tous les jours. Comment vous gérez le syndrome de l'imposteur ? Je doute. Pourquoi ? Non, je ne doute pas. Vous êtes plutôt combatif et doux, créatif et doux ou carrément agressif et doux ?
[Foreign language] Je dirais que je suis combatif, créatif et doux. Et doux. Oui, parce que les hommes sont doux. On est tous doux. Oui. Le mot doux doit pas être celui qui me caractérise le plus.
[Foreign language] Est-ce que vous arrivez à pas vous laisser submerger par vos émotions ? Parce que toute cette charge mentale, parfois, ça donne envie de sortir de ses gonds. Oui, ça m'arrive. C'est pas, je crois que ça arrive à tous les hommes. Bien sûr. Même s'ils ne l'admettent pas. On va passer maintenant au vrai sujet. C'est quoi votre morning routine ? Alors, je me lève, je prends ma douche. J'essaie de me laver. Je regarde mon téléphone.
[Foreign language] C'est le journal. Je vais prendre un café. J'ai un produit génial, c'est Augustinus Bader, une petite crème, c'est un truc de fou. Est-ce que vous avez une adresse beauté à Paris ? Ben, non. Pas petite salutation au soleil à 6 heures du matin, miracle morning, tout ça ? Non. On arrive déjà à la dernière question, mais que je suis obligée de poser parce que tous les journalistes la posent. Est-ce qu'en tant que féministe, on vous reproche d'être trop agressif ? En tant que féministe, on me reproche d'être trop agressif. On vous la pose tout le temps, cette question.
[Foreign language] Ouais, ouais. On me reproche de ne pas être assez féministe, assez constamment féministe. Et on n'est jamais assez féministe. [Foreign language] Je pense pas. Je pense que ça fait partie de la personnalité. Je sais pas quoi répondre. C'est la répétition qui est un peu agaçante.
Merci beaucoup. [Foreign language] Merci.
Thank you very much, Raphaël. Congratulations to all the teams. It's our pleasure now to welcome Michèle Benbunan, CEO of Editis.
Bonjour.
Bonjour, Michèle. Hello, welcome. You joined us just over 2 years ago, but after 2 years where shareholders and employees have seen you during the AGMs remotely, this is the first time we actually see you in person. We're delighted, Arnaud and I, to welcome you here to the Olympia.
Bonjour Arnaud, bonjour Yannick. Hello, Yannick, Arnaud. Good day to you all. It's my first Olympia. Delighted to be here before such a prestigious audience. I really like the beauty routine in the earlier clip. I found that really made a lot of sense. To see us all together today is a strong symbol of shareholders who support the ambitious vision of a group that combines harmony, culture, diversity, whose energies are focused on encouraging creation. Vivendi's offered me staunch support these past two years at Editis, and I know Yannick, Arnaud, dear shareholders, you've encouraged us and supported us because the facts proved us right. Growth was outstanding in 2020 and 2021. The Editis teams were wonderfully reactive in the face of the crisis. We're able to transform swiftly and lastingly so that Editis today, it becomes an agile and efficient group.
Thanks, Michèle. So at Editis, tell us a bit more about your Creation Unlimited model.
Well, together, we wanted the Editis group should become a village comprised of self-standing publishing houses. Editis today represents 52 publishing houses whose plurality, singularity, quality of its voices constitutes its wealth. 52 houses with their own editorial independence. 52 houses embodied because publishing concerns individuals and encounters, and enhancing that process was at the heart of our concerns. Our centuries-old publishing houses, Nathan, Plon, Perrin, are joining others, six publishing houses launched in 2021. Foreign literature, Le Bruit du Monde. Urban culture, Clique. Comic books, Philéas, and a new publishing house whose name hasn't been fully defined in comics with Black River and in Côte d'Ivoire with Nimba. We're proud of our successes. We're equally proud of being popular.
We have a pocket format, Pocket, widely disseminated, celebrating its 60 years this year, and its geographic universe will soon be released. No spoiler on that. We've also forged partnerships with new independent publishers, championed by iconic writers that you know, La Maison de Joëlle Duquer, Rosie & Wolfe, Fréd Viguier , Riad Sattouf, Les Livres du futur. We also welcomed in distribution dissemination in 2021 Les Arènes, L'Iconoclaste, Trédaniel, Dalloz, Éditions Francis Lefebvre, and we had the honor of being the partner of Philippe Rey publishers received the Goncourt Prize for The Most Secret Memory of Men of Mohamed Mbougar Sarr.
In the other segments, well, on the illustration front, we have new authors, a great many, but I just cite our new from the sphere of influencers who came to the fore during 2021, confirming our position as leader on the market. The youth, big success with Spy × Family at Kurokawa, a manga that sold over 1 million copies. On the education front, hybridization of our educational solutions continued and stepped up. There are multiple innovations to mention, but one, Cap Easy, a digital support service from Bordas soon out. We invested in Meet in Class, a student-teacher platform for collective support classes. We developed innovative projects, opened the field of possible for our writers and publishers. Nathan TV was born in 2021, an educational TV channel in partnership with Canal+, supporting learnings of primary school pupils.
Nimba, our new Ivorian publishing house, 30 publications forging editorial synergies with other group units present in Africa. New licenses, Dr. Good! and Le Bureau des Légendes has enriched its offering in conjunction with Canal+. Prisma, we also multiplied initiatives to give writers the possibility of generating additional revenues through lectures and master classes, facilitating individual meetings with 200 producers and a new catalog of audio series. Creation today must be plural, simultaneous and hybrid. Writers want their publisher to consider all the facets of the work from the birth of the project at 360 degrees, as we say. For a publishing group to belong to a group such as Vivendi is a huge strength. Creation and innovation are everywhere. They're also in dissemination and delivery too.
Well, Michèle, how is Editis investing in its delivery and distribution?
Editis is also into Interforum that distributes the books, and we owe our greatest success to ability to support our 15,000 sales points and great proximity policy. We also seek to give bookstores pride of place in our strategy and ambition because bookstores, like publishers, are the first influence of books. They're the ones who create the buzz around a writer and its work. The others, they amplify it, but without that initial sound, nothing would be amplified. In April, we announced for our bookstores three major measures. The first is to enhance the trade terms so that no bookstore has remuneration below a certain level. This concerns 1,600 bookstores, the weakest that we must support. We were the first at their side during the pandemic to ease their cash flow situation, and we showed the way to our peers.
Secondly is to guarantee order delivery within 24 hours, wherever they're located. If your bookstore, you all buy books from a bookstore, can guarantee that any book can be delivered the next day, that is really tremendous for loyalty building. This commitment for 2023 was only possible thanks to an ambitious project to modernize our IT and supply chain, several dozen million EUR launched back in 2020. The key was the support of Vivendi, a strong group familiar with an entrepreneurial approach over the long term. Let's see a few images of our modernization plan. Thank you to all the teams who worked on this. Our bookstores are great influencers, as they're called. Our third measure is to help those who wanna be more visible on the net.
For that, in conjunction with Havas, we make available to them digital solutions, content, and budget to grow their influence on their social media.
Well, Michèle, that really is a great transition since, like Vivendi, Editis has embarked on an ambitious CSR program. Could you perhaps develop a similar landmark project at Editis in this regard?
Y es. I know how much you're attached to the CSR dimension. We're very cognizant at Editis of our commitment to this mission. If I were to mention one initiative, it's the disability initiative that affects one out of 10 persons. We've launched a disability initiative to better include collaborators with disabilities. We've put in place a hotline to inform employees and an ambassador program to support colleagues.
We'll be doubling our purchases in the necessary institutions promoting this work. A thought for Ukraine and for its talented and brave writers. Since in May, Our Soul Cannot Die, an anthology of text by the national poet, Taras Shevchenko, as well as a dictionary of love of Ukraine, the benefits going to a charity, France-Ukraine. Thank you, Yannick. Thanks, Arnaud.
Thank you, Michel. Well, let's now go from book publishing to magazine press. As you know, dear shareholder, we welcome Prisma Media into Vivendi's fold last year. The integration went remarkably well. As Hervé Philippe said, many collaborative projects with other group units have already been achieved or underway. Who better than the CEO to talk to you about the transformation on the way at Prisma Media? I'm very pleased to invite Claire Léost up on stage. Claire.
Morning, Claire. Welcome.
Good morning, Arnaud de Puyfontaine. Good morning, Yannick, shareholders. Good morning to one and all. Claire Léost, first and foremost, could you please remind us just briefly exactly what Prisma Media does? Absolutely. I'm only too delighted to talk to you about Prisma Media's activities, its transformation strategy, and its commitments. Prisma Media is first and foremost a group created 44 years ago around the brand called GEO, which became the number one magazine producer in France. Brands famous to all, GEO, Capital, Gala, Voici, Femme Actuelle, and Télé-Loisirs, famous magazines. It's a group that really transformed itself beautifully in recent years to also become number one in terms of digital and video viewership.
Every month, we contact over 40 million French men and women through a portfolio of around 20 brands. Impacting therefore 66% of the web surfers who spend on average 22 minutes on one of our brands. Prisma Media currently means media brands which are part of our heritage in the area of entertainment, women, economics, and also discovery. Let's mention Télé-Loisirs, which is the number one TV guide both in print and digital. Then Femme Actuelle, first women's magazine in Europe of media. Then Gala, which was a print brand originally, and it's completely transformed itself to become a European leader in the TikTok social media network with 3 million subscribers. Our intention is to entertain and inform our readers through our magazines, our sites, and our videos. Basically, our mission statement is to make the French people's lives more beautiful.
Could you tell us what the keys to your success have been, Claire, with Prisma Media?
Absolutely. Prisma Media is first and foremost all about ongoing change, constant change, and transformation. A couple of figures by way of illustration. In 2016, digital at Prisma Media made up EUR 25 million in revenue. Currently, it's EUR 86 million in revenue. This has been exceptional growth, which has helped the entire group. Prisma Media is recognized throughout Europe as a major player that's been highly successful in its digital transformation. Next, Prisma Media has a corporate culture of growth. We're not about decline or saying things used to be best in the past. No, we're constantly innovating, looking for new growth drivers. It's fairly infrequent in the press. Often people think back to the gilded era, past days. That's not us.
We're very much focused on the future of Prisma Media. Lastly, this group has a strong focus on profits and results. Yes, we focus on growth, but we equally focus on profits. Quick profitability for all of our projects, which gives us a very strong foundation for our development. This performance is made possible thanks to our 1,200 employees whom I greet here, including 500 media journalists, 150 tech experts, and over 200 production and data experts.
Claire, could I ask a question? What are the major transformation projects you have in the pipeline at Prisma Media?
Yes. To date, we've got an ambitious growth plan to develop new sources of revenue. We're launching several things at the same time, several different areas.
First of all, we're consolidating our position as leader in print and digital through acquisitions and by developing new themes such as health, SVOD, economics, and news. We just integrated a new magazine, Dr. Good!, Michel 's magazine in the area of health. We also acquired a magazine called Télé Z, over 800,000 issues per week, which further strengthens us in the area of TV guides. Next, we're also developing in the area of online subscriptions. During the pandemic, we observed a change in digital content consumption patterns. We saw a growth in digital subscriptions. People are prepared to pay for online information now. That's something new. We're testing the model through our brands called one called Capital, the other one called GEO. We're also boosting e-commerce, proposing to our readers that they buy online products through our articles.
They can also purchase tests and comparisons and purchasing guides. We've got a B2C model. We've got the consumers paying directly for this content and these services. Lastly, we bring our brands beyond the area of content and services. We're also developing new businesses such as coaching in health, astrology, events in the area of management, economics, as well as some for-pay newsletters. We've got many other projects with other business lines of the group, such as Canopée subscribers get a magazine done by Gala teams. We propose shared offers for our shared projects. Now, as Maxime said, we use the Dailymotion player for marketing our video inventories. We've got another challenge, which is to impact even more young people.
We do this through the social media and by creating the appropriate formats for them, such as Simone, which is a feminist social network, or Neon, which is a community network. We've also got the intention to export Prisma Media's business model and our success outside of France.
Thank you, Claire. Thank you very much. I know that ESR is very much part and parcel of Prisma Media's strategy. Could you tell us what action you'd like to talk to us about specifically this morning?
Absolutely. ESR is very much part of our corporate strategy. Has been for many years. Among other things, we're committed to equal opportunity. On that point, an action I'd like to talk to you about, we're especially proud of it. It's our local commitment to assist youngsters.
Since 2011, Prisma Media has been based in Gennevilliers, which is an area of strength and education needs and purposes. With the city hall, we meet with youngsters and middle schoolers from Gennevilliers and assist them to look for initial jobs in job areas. Prisma Media accommodates 300 youngsters as interns and alternating education. Lastly, we have high intentions for growth. Often, Prisma Media is said to have the power of the GAFA and the journalistic credibility of a great press group. I'd say Prisma Media is GAFA +.
Thank you. See you soon.
Merci beaucoup. Thank you very much, Claire. We've gotten this good overview of our business areas. We've certainly got to hear from Gameloft and Vivendi Village, though. Now we'll hear from the leaders of those two business lines, Stéphane Roussel and Simon Gillham. They've got talks that were pre-recorded.
Dear shareholders, dear friends. 2021 is a fine year for Gameloft. Profound transformation of our company underway for several years, beginning to bear fruit with growth. 15% gross margin in a video market that only grew by 1% and return to profitability marked in particularly a rebound EUR 32 million of our EBITA. A key year saw the success of our ambitious strategy, diversify our models, our delivery platforms, and lastly, diversify the types of games. Firstly, we grew and believe strongly in the subscription model that we added to the existent free model. Five games on Apple Arcade, great successes. The Oregon Trail that can be downloaded. LEGO Star Wars: Castaways, both won accolades. We joined Netflix when it started its game offering. Asphalt Xtreme, the most popular game. The excitement of players and the critique underscores the relevance of this strategy.
It's a major milestone in the transformation at Gameloft. We sought to diversify the platforms where we offer our games over and above the mobile phone. We forged a partnership with Facebook to make available certain products on cloud gaming. Recently announced our first game, our first on PC and console, Disney Speedstorm. Take a look.
Disney Speedstorm, Disney and Pixar developed at Barcelona by Asphalt creators, unveiled exclusively at the Nintendo event with 8 million viewers. It will continue this year two other major titles for PC and console, soon to be released with the opening in Paris of a new studio in charge of developing another game for these platforms. Lastly, Gameloft has fully benefited these past few months of the successful launches of new game Heroes of the Dark, Sniper Champions or Idle Siege. These successes illustrate the relevance of our model with a product mix that is favorable, diversified, strict cost containment and good teams. As a leader in the video game industry, Gameloft must also be a responsible company.
We're proud to offer content that impact positively on society, such as the game Exploratio, promoting the wealth of the French language devised with the French Culture Ministry and the Quebec Office of the French Language. We're aware of climate challenges. Gameloft has joined the Playing for the Planet Alliance under the UN aegis to reduce the carbon footprint of our activities. In conclusion, my thoughts go out to our teams in Ukraine, 630 workers at Kharkiv. We did everything from day one to provide maximum support with financial, logistic, and psychological support. We're constantly in touch with them, and I can testify here, we're profoundly impressed by their courage and resilience. Admirable. My thanks to them and to you.
[Foreign language] Bonjour mesdames, bonjour messieurs. Je m'appelle Simon Gillham. Je m'occupe de Vivendi Village et je suis vraiment très heureux et très honoré de vous présenter aujourd'hui nos activités et quoi de mieux pour le faire que ce lieu mythique et magique, le Théâtre de l'Œuvre. Venez avec moi.
Vivendi Village s'est construit autour de trois piliers qui travaillent main dans la main et qui se complètent. See Tickets est un acteur majeur de la billetterie présent à travers l'Europe et aux États-Unis. Nous produisons chaque année plus de 20 festivals de musique et plusieurs concerts et événements musicaux. En France, avec Olympia Production et en Grande-Bretagne avec U-Live. Nous avons deux magnifiques salles à Paris, l'Olympia et bien sûr, le Théâtre de l'Œuvre où nous nous trouvons aujourd'hui. Tout commence par un billet et tout commence par un talent au cœur de toutes nos activités.
[Foreign language] Bonjour, François-Xavier Demaison. Je codirige le Théâtre de l'Œuvre depuis six ans. Depuis qu'en 2016, Vivendi m'a aidé à en faire l'acquisition. Ça a été un moment absolument exceptionnel de pouvoir, voilà, avoir le privilège de diriger ce lieu mythique, puisque ce théâtre existe depuis le 19e siècle. Ça a été un bonheur aussi d'ouvrir la programmation à des spectacles d'humour, tout en gardant vraiment l'identité très théâtrale du lieu. C'est un lieu que je vous conseille de venir découvrir si vous ne le connaissez pas encore.
Olympia Production détecte et accompagne des talents nouveaux et confirmés en produisant, coproduisant leurs one-man shows ou leurs concerts. Également, nous permettons l'accès à d'autres entités du groupe Vivendi, notamment Canal+, Prisma et Editis. Cette année, nous créons trois nouveaux festivals. Le premier s'appelle Inversion Fest. C'est un festival urbain à Lyon que nous faisons en association avec LOU Rugby, un club du Top 14. Le deuxième est un festival centré sur l'univers du vin avec le syndicat des vins du Roussillon, le Bacchus Festival à Valmy, à côté de Perpignan. Le troisième, Pélicou Live, un festival de musique, mais aussi un festival de cinéma en partenariat avec Canal+ à Thuir, toujours à côté de Perpignan. Pour nos tournées musicales comme pour nos festivals, nos objectifs RSE sont multiples. Gestion des circuits courts avec nos fournisseurs, gestion des déchets, gestion des rejets. [Foreign language]
Le zéro plastique est une évidence dans nos festivals, mais aussi sur nos tournées musicales. Ce qui est important pour nous, c'est notre implication sur le terrain, sur les territoires, mais aussi avec les associations. [Foreign language]
In the U.K., U-Live operates in one of the world's most competitive festival landscapes. We focus on developing festivals in niche brands, pushing boundaries and really presenting new entertainment concepts. Whether it's launching new formats in new countries like Albania, or whether it's taking some of our electronic brands like Junction 2 and presenting these in virtual worlds or the metaverse. This is really an exciting time for entertainment. One of our major projects this year is called Kite, where we blend debate, music, discussions and topics that are really important to society today. We put this on the global stage.
[Foreign language] See Tickets, c'est le partenaire des organisateurs d'événements et de spectacles, des concerts, des festivals, des théâtres, des lieux de visite, mais aussi des salons, des expositions et récemment des événements immersifs. À tous ces clients, nous offrons un accompagnement personnalisé et une technologie robuste déployée dans l'ensemble de nos filiales. Le tout pour améliorer l'expérience utilisateur du fan et du visiteur. L'équipe de See Tickets est aussi diversifiée que nos événements. 20 nationalités, 14 bureaux, 40% de notre direction est féminine et nous avons beaucoup de jeunes talents dans les postes de responsabilité et surtout des passionnés de musique et de culture.
[Foreign language]Mon séance spéciale pour les salles CanalOlympia en Afrique. Il y en a 18 et franchement, il y a de plus en plus de films africains et de plus en plus de personnes qui viennent voir les films dans les cinémas construits par nous. Pour finir notre présentation, je voudrais parler 2 minutes de notre talent universel, Paddington. Paddington, d'origine péruvienne britannique. Paddington a été doublé en Ukraine par un acteur qui est devenu le président de l'Ukraine. Merci. Merci beaucoup.
Thank you. Thanks to all the teams. After that review of our activities, I suggest we now move to the reports of the work of the Supervisory Board Committee, as well as the presentation of the S tatutory Auditors. For the Audit Committee, we're pleased to welcome to its Chair, a remarkable Chair, Cathia Lawson-Hall.
Bonjour Yannick.
Bonjour chère Cathia.
Bonjour.
Hello, Cathia.
Hello everyone. Good morning to everyone. As a member of the Supervisory Board, Chairman of the Audit Committee and member of the CSR Committee, I'm absolutely delighted to meet with you this year, 2022, at the Olympia for the first time since 2019. Over the last few months, the Vivendi Group has yet again demonstrated its dynamism and its strong ability to change itself, making major changes such as the payout of UMG, integration of Prisma Media, and an increase in the capital stake in Lagardère. In 2021, as every year, the Audit Committee looked at the quality of both internal and external financial control, as well as the reliability information provided to shareholders. On this point, for this fiscal period, we paid special attention to transactions relating to changes in the group's scope.
Firstly, in checking the financial statements and financial information, we did ongoing review of the process of deconsolidation of Universal Music Group and the establishment of a Lagardère equity affiliate. We also looked at risk control. There was a risk mapping of Prisma Media. This was given right after its integration within the group. We looked at quality and reliability of financial information, effectiveness of internal control arrangements, as well as risk control. These are all a main focus of the work done by the Audit Committee, which met 3x in 2021, always in the presence of our Statutory Auditors.
Thank you, Cathia. Now, what other subjects did the Audit Committee work on above and beyond scope changes?
Thank you. Yes, above and beyond those subjects, the Audit Committee also looked at operational resilience for the group's business activities.
The COVID crisis demonstrated the requirement to be ready for risk scenarios, systemic risks whose impact can be significant. We saw in the international news yet another example of this. On that point, the Vivendi Group has set up many different processes to measure and reduce its exposure. The Audit Committee, among other things, assessed several actions, inter alia, work relating to critical infrastructure resilience to ensure business continuity in the event of a major event such as fire, flood, or a cyberattack. Furthermore, qualification of cyber risk scenarios and modeling of possible financial knock-on effects to ensure cybersecurity. Next, legal protection of financial commitments to contend with possible consequences of these risks in terms of execution of contracts and/or value of financial commitments entered into by group companies. Lastly, the Audit Committee also tracked changes in the area of environmental and social responsibility for this group.
Among other things, we reviewed regulatory changes pertaining to green taxonomy. Above and beyond its strong requirement in the area of achievement of operations, carrying out operations, and compliance with social and environmental commitments, the Vivendi Group and its teams have endeavored to establish robust sound processes whereby they can best cope with any complex and unforeseen situations, such as was the case that we observed during the COVID crisis in 2020. Yannick. For 2022, the Audit Committee, among other things, will be focusing on the tie-up with Lagardère, which will open up new strategic horizons and operational possibilities for this group. Thank you for your attention.
Thank you, Cathia. I'd like to thank all members of the Audit Committee. It's now my pleasure to welcome Ms. Géraldine Segond from Deloitte on behalf of the group of Statutory Auditors.
Merci, Monsieur le Président.
Thank you, Chairman. Ladies and gentlemen, shareholders, on behalf of the Board of Statutory Auditors, Deloitte and Ernst & Young, I'm pleased to report on our assignment, present the reports that we've drawn up for your attention for the combined general meeting being held today. Reports were made available to you by the company and are included in the Universal Registration Document. I propose, as per usual at this meeting, to summarize the terms of these reports by beginning on our reports in the annual and consolidated financial statement. Reports to be found on pages 271 and 380 of the registration document present our conclusions on the annual financial statements drawn up under French GAAP and the consolidated financial statements drawn up under IFRS as adopted by the European Union.
The fundamental purpose of our assignment is to obtain, in accordance with professional standards in force, a reasonable assurance as to the fairness and sincerity of the financial statements, making sure they comprise no material misstatements. We inform the Management Board of your company, the Audit Committee, on the 17th of March, and your Supervisory Board on the 9th of March of this year as to the nature and extent of our work, and we submitted our conclusions to them. These reports outline the assessments and the key audit matters in accordance with the Code of Commerce for the annual financial statements, estimates, and judgment for assessing certain equity holdings and for the analysis of disputes with foreign institutional investors.
For consolidated financial statements, the key audit matters cover assessing the goodwill, notably of CGU Gameloft, assessing Telecom Italia stock consolidated at equity, assessing the deconsolidation capital loss of UMG, assessing litigation with foreign institutional investors. We reviewed the assumptions and underlying data. We reviewed the calculations by the company, their presentation in the annexes to the financial statements, and we assured ourselves of the reasonable nature of these estimates. We expressed an opinion without reservation on the financial statements of your company. Furthermore, we conducted the specific verifications as per law. We have no comments to make regarding the fairness and the consistency between the financial statements and information contained in your management report as regards approval of the related party agreements, the subject of resolution number three.
We issued a report to be found on page 416 of the Universal Registration Document. It sets out the characteristics and arrangements of these agreements, as well as the reasons justifying of the interest of the company of contracts that we have been informed of or brought to our notice. We were informed of an agreement previously approved by your AGM concerning the agreement reached between Vivendi SE and Compagnie de l'Odet as part of transactional negotiations with Mediaset and Fininvest. We were also informed of two new agreements, the conclusion of a shareholders agreement of UMG by your company, as well as the conclusion of share transfer agreements of UMG as part of the distribution of 59.87% of its capital to shareholders of your company.
An agreement between Vivendi SE and Lagardère SA with a view to preparing the required regulatory notifications as part of the public offering aiming at the Lagardère SA shares filed by Vivendi on the 21st of February this year. All these reports were signed on the 10th of March this year. Last year, our AGM is convened in extraordinary form. You're asked to approve several transactions on the capital of your company. We've drawn up, in this regard, two reports on the delegation of authority granted to the Management Board. One, to cancel within a limit of 10% of the share capital of your company own treasury stock acquired. That's resolution 23. Secondly, to cancel within a limit of 50% of the share capital of your company shares bought back as part of a public share buyback policy in the 24th resolution.
Two reports on delegation of authority granted to the management board to decide on issuance of share or any other securities giving access to the capital of your company with deletion of preferential subscription rights reserved for employees and members of a group savings plan. That's resolution 25. Decide on an issuance share with suppression of preferential subscription right reserved for members of a savings plan as part of the international group savings plan. That's resolution 26. We confirm that we have no specific comments on these transactions as we concluded in our various reports issued and dated 15 March this year. On behalf of the Statutory Auditors, I thank you for your attention.
Thank you, madam, as well as to the full Board of Statutory Auditors. I now invite Philippe Bénacin, Chair of the Governance, Appointments, and Compensation Committee, to join us. Bonjour, Philippe. Hello, Philippe.
Hello, Yannick.
If you don't mind, before giving the floor to Philippe, I wanted to specify the Supervisory Board very much paid attention to the votes on some of the resolutions last year, particularly resolutions pertaining to compensation to corporate officers. At the beginning of the year, we set up an ongoing dialogue. I took part in this personally. We had discussions with voting advisory offices and various shareholders. I want to thank all of them for the time they've spent on this.
They were able to tell us what their expectations were. We were able to talk about many of these before today's AGM. I'd like to say to all of you that we're very keenly interested in the recommendations for votes given this year, which appear to have. Reflect our efforts to be even more transparent and show even greater clarity. We intend to continue with dialogue next year as well.
Thank you very much, Yannick, for that information. Absolutely. Transparency of information contained in a report on corporate governance has been boosted. Inter alia, having to do with non-financial criteria for bonuses and regarding ESG objectives. This is resolution 5 in your document. Compensation to the Chairman of the Supervisory Board for 2021, EUR 400,000, including identical, including EUR 60,000 for director's fees. This is unchanged compared to fiscal 2020. This is resolution 6 in your document. As every year, the payment of the 2021 bonus for the Chairman and members of Management Board are subject to your approval, resolutions 7 - 13, reaching 80% of the fixed part.
Considering the payout of UMG in September 2021, grant of performance shares 2021 will be replaced by a cash amount stable compared to 2020. Having to do with performance shares granted in 2019 to the Chairman and members of the Management Board, the final grant rate is 100% of the initial grant for 2019. To take account of the impact of the payout of UMG on Vivendi's share price, a partial adjustment was applied to the tune of EUR 7 per share. That was 2021. I'm gonna move on to 2022. The amount of compensation to the Chairman of the Supervisory Board is set at EUR 400,000, including EUR 60,000 director's fees. Policy of compensation for other members of the board were unchanged for 2022.
Regarding the Management Board, we increased the proportion of ESG criteria. The bonus shifts from 12% - 15% in terms of that criterion. Performance shares now and environmental component is linked to the low carbon trajectory of Vivendi. This has been included to the tune of 10%. Conditions for final award were strengthened, as you can see on the slide. We're proposing to you to renew the terms in office of Ms. Cathia Lawson-Hall, Ms. Michèle Reiser, Ms. Katie Stanton as Independent Members of the Supervisory Board. We're proposing to appoint Ms. Maud Fontenoy, author and well-known person working for the environmental education as an independent board member, as her appointment would
Enhance the Supervisory Board's expertise in this area, in the area of diversity of content and preserving the environment and entrepreneurship. Yannick, over to you.
Yes. Thank you, Philippe. On that last resolution, if I might especially welcome your proposal and the proposal of your committee to appoint Maud Fontenoy. On behalf of the Supervisory Board, let me say that this proposal was unanimously approved. Maud, I don't know, did you want to say something briefly to introduce yourself and say a little about your background?
Yes. Thank you very much, Yannick. Thank you, Philippe. Thank you, Arnaud. Friends, dear shareholders, of course, it's a great honor for me, it's a great pleasure for me to become part of the big, I hope, the big family of the Vivendi Group. For those of you who may know that I was first woman to cross the North Atlantic, rowing, alone with no assistance. I also did the world tour against the current.
Now I'm firmly on the ground, feet on the ground, very committed to environmental points through my foundation for 15 years now as ambassador for the Ministry of National Education in charge of education of the sea. Also committed to educating our youngsters through programs in 55,000 schools in France, primary schools, some middle schools, high schools. We have various actions to better preserve the environment and to better understand our impact on the oceans. This is something I'm very familiar with, and it's very important for each and every one of us to be familiar with this. If you think of the fact that we came from the oceans billions of years ago, and the oceans still have to ensure our lives.
Through my foundation, my books, my movies, Maxime and other activities in schools and in companies, for me, this will be to make my modest contribution of my expertise to these various subjects which are very important to me. It's a major challenge you said, Caroline, we have to rise to today in this group. Of course, I'll enthusiastically provide any assistance I might be able to. Thank you. Thank you very much for that.
Great, Maud. Thank you for that presentation. It's truly impressive all the things that you've done. We talked about this when you came to our office for the first time, and I really congratulate you. It's truly impressive, your various achievements. Subject to your approval, the Supervisory Board of Vivendi will have 55% women and 55% independent directors. Thank you very much.
Thank you. Thank you very much. I have finished as well.
I'm informed the final quorum, 70.95%. Maybe Frédéric, dear shareholders, if you agree before we move to the vote, maybe we could answer a few questions. I'm sure there are in the hall. In fact, we've received a few in writing. We've received a set of three questions from three shareholders, Forum pour l'Investissement Responsable, Phitrust Active Investors France, and Initiative Climat International, essentially ESG issues and on pay of Executive Officers as part of the UMG transaction and gender equality within Gameloft. Many of these answers, notably that on climate governance, gender equality was supplied during the various presentations. Answers to the questions were posted this morning on our website under the AGM tag. Would you like to add anything, Fréd ?
Answers approved by your Management Board are to be found fully on our website. Thank you. Let's now take questions in the hall. If you'd like to start, madam.
Chantal Vogel. I'm a member of the Shareholders Committee. Good morning, Mr. Chairman. How do you view the macroeconomic context evolving over the coming months? How will Vivendi position itself in that context? Yes, Burn Gore, for the Shareholders Committee, I'd also like to put a question on our behalf, asking what the next steps are regarding the offer on Lagardère. Lastly, I'd like to speak on behalf of a number of shareholders here present. We've taken due note of the payment of the UMG dividend that is to come to Vivendi. Some were wondering what was the nature of the gift of this AGM.
Well, thank you. Thank you for those questions. Well, I'll perhaps begin by answering the last question. You're right about the ordinary gift of Vivendi. For those who are new shareholders, Vivendi distributes three bottles of excellent wine for that matter to its shareholders. Now, it's not an easy issue 'cause Vivendi has distributed 60% of UMG.
It's about 2/3 of Vivendi. Vivendi at EUR 12, UMG 24. Logically, Vivendi should henceforth cut off its gifts by 2/3 and give only one bottle. But we have nevertheless expressed our gratitude, we're delighted to leave the number of bottles unchanged. You will indeed receive three bottles. Maybe on your other questions, Chantal, on the macro context, and Arnaud, maybe the next steps on the friendly offering for Lagardère. On the macro context, very difficult to answer you because, well, as you saw this morning, the figures at the end of March are very good after a very satisfactory year. We see that all activities continue to go, perhaps slightly, a slight dip in publishing, but that's to be compared with an outstanding situation last year.
Overall, we can be very satisfied with the situation end of March. As was said, and that emerged from all the presentations, that there's kind of a context that we can describe as uncertain. The pandemic is not fully over. I was talking last week to our Chinese boss, who's locked down in Shanghai. I mean, it's a very difficult situation, difficult to predict the impact of the lockdown on the rest of the economy in China. The situation in Ukraine is not only tragic, but can have consequences difficult to assess in terms of an enlargement of the conflict. There are disruptions in the transport sector, disruptions linked to inflation. Difficult to answer you.
Maybe what I think, what we all believe at Vivendi in these times of uncertainty, even if everything is going well, we need to remain prudent, agile. It's very important that Vivendi should retain its ability to adapt. I described it as out of the ordinary. It's all about staying nimble to face difficulties and seize opportunities. Arnaud, next steps for the Lagardère transaction, the friendly offer.
Yes, as you know, we launched a friendly takeover bid on April 14. Yes, this bid will be its first initial phase for 25 trading days through May 20. We'll get the results. The results, endorsed by the French stock market regulator May 26. If in the event of a successful outcome, we'd like to reopen a new phase for a duration of 10 days from May 27 through June 9.
We'll know the final result of this transaction Burn Gore, for the Shareholders Committee on July 14, the next date at which there will be publication by the AMF, the French market regulator. In parallel to this process, a financial process on the offering. We have daily interaction with the European Commission because the tie-up between the two groups is of course subject to the EU authorities' green light for antitrust competition issues. The European Commission that is the timekeeper in this regard and controls the timeline.
What I can indeed tell you is there's a big team working on recovering all the necessary information and in a spirit of great openness and good relations with our Brussels counterparts to have the possibility over the coming months to operationalize this deal on the basis of the terms we'll have agreed with the European Commission. As Yannick said also, I'd add that this transaction has as its purpose to leave the Lagardère Group in its integrity. It's a company that will remain listed, and our friend and partner Arnaud Lagardère will remain Chairman and Chief Executive of the group. That's what I can say with you as the situation stands today.
Thanks, Arnaud. That was crystal clear. Next question. I can't see you. You're really a bit in the dark there. Yes.
I'm delighted to be with you today. It's reciprocal. I should actually be in hospital, not psychiatric, but for just a minor cancer ailment that I'm suffering. Not the case for music. Anyway, what I'd like to do is really thank you for these results. I'm saying that very sincerely because I see that Vivendi is more than alive, is indeed alive and very well, has delivered extraordinarily if the figures that you give us are indeed true. Well, I'm sure they are. I'd like to thank you for all that. What I'd like to ask you, what do you think of mergers? I mean, since you're tying up with Lagardère of TF1 and M6, the TV networks. That seems to me totally illogical and also dangerous for Vivendi, 'cause Vivendi, well, you're an assembly.
I'm in a group. We're all part of it here. We're a group that in actual fact wants to dominate cinema, entertainment, almost I would add, desire. So that's really my question to you. Second question, minor one regarding Lagardère. What do you think you can gain through Lagardère? 'Cause we saw that Lagardère, without being unkind here, hasn't really been on a par with his, with his father. Mr. Bolloré, bravo for what you're doing. Thank you. I'll give my name. My name's Michel de Fargeau.
Well, thank you, Mr. Fargeau. We're of course all very pleased to meet up with you again. Maybe just for Arnaud Lagardère, who I know well because we've known one another for some ten years now.
I can really testify to his upstanding nature as a business head and individual. We're indeed very pleased, I say that quite frankly, to rely on the expertise of Arnaud and his team to deliver this plan over the coming months and years. Just on TF1 and M6 to answer your question. Well, it's important for you to know, to understand this, an important point. What is our competitive universe? Like any company, like any business leader, well, we have nightmares at night. I mean, what keeps us awake at night? What are the competing groups? We tend to evolve in a different competing environment with the major U.S. platforms or other European companies similar to Vivendi. So it's not a major issue of competition for us.
It's a transaction that could indeed have impacts on two levels. Firstly, on Canal+, because few people know this, but TF1 and M6 are viewed as free-to-air channels. In fact, Canal+ is paying to deliver free-to-air channels, which may be rather counterintuitive. In the event of a position, not dominant, but well, now a monopoly in free-to-air, they mustn't take this advantage to abuse their position. Maxime and the Canal teams that were not a collateral damage and that free-to-air channels need to be free-to-air. I have said something totally outstanding. Turning to Raphaël on Havas, because Havas Media accounts for 25% of media buying in France, we have to make sure that the inflation generated by this merger is not gonna impact the customers at Havas.
That's what I can say about that. What's quite amusing is that that is indeed on the cards because Arnaud is gonna talk to you about Lagardère, where Hachette plus Editis in France doesn't even account for 50% of the French market. We're asking questions, whereas TF1 and M6, that's 85% of the market. Be that as it may. Arnaud.
Your question, Mr. Fargeau, concerning the tie-up between Vivendi and Lagardère. You may recall a comment made when we had the pleasure of welcoming the teams of editors at Vivendi. That was back in February 2019 when we announced that combination. We said it was just a first stage, and our ambition was to create a global publishing leader.
In answer to your question, the goal is to ensure that we could make Vivendi and Lagardère a stronger group. We have an operational target, which is to create a global publishing leader. We believe in books. We believe in the growth of books. We believe in our ability to transform that industry, in the ability to create value, and we believe in the benefits of creating for the development of our writers, French and European culture, for maintaining the position of our retailers in terms of the growth of e-commerce players, in the growth of such a group, and in the ability to place this publishing group at the heart of our ventures. As mentioned by Maxime Saada and Michèle Benbunan, there are many transactions based at source on creative ideas of books developing in broadcasting formats.
The goal of the combination is to create that global books champion and in parallel to bring as an industrial corporation to Lagardère support in terms of the recovery of travel retail activities and to jointly contribute to build a strengthened media group in an environment undergoing rapid transformation. With the support, the excitement of Arnaud Lagardère and the quality of the teams with whom we in due course will build this venture, the moment will be when we obtain the green lights from the European Commission and the consequences of such a combination are settled. We'll be able to build t his plan that is very promising for value creation and the ability to transform and strengthen the pace of transformation that we have followed since 2014 at Vivendi. Thank you. Next question.
Bonjour, Monsieur le Président. Hello. I've been a shareholder for 20 years now. I've got 2 questions. The first one is on Vivendi Village. I was wondering, under Vivendi Village's activities, I would like to know if you support new music festivals. I'd be interested in this. I'm thinking for festival levels. Another question that's somewhat controversial. Subsidiary terms of the group, UMG. I read somewhere on the Internet, I don't know if it's fake news or not, that the bonus for the Chief Executive Officer, Chairman and CEO, there was too many zeros, I thought, with his non-recurring bonus. EUR 240 million through the IPO. EUR 240 million, that would be 4% of UMG's revenue.
That was something started out at the time of Vivendi that held 80%. I wondered, did Vivendi also vote with its percentage on this one-off bonus of EUR 240 million? Apparently, someone's saying it was EUR 274 million, so I was lowballing it.
Thank you very much for the questions. First question, the easiest one. I can field that one and give the tough one to Arnaud. No, seriously. Your first question. Five rows in front of you've got Simon Gillham seated, and he can tell you specifically everything about music festivals and how to get them included. On the second point, Lucian Grainge's one-time bonus. Let me remind you of the figures. UMG was valued at under EUR 7 billion at the time. Over just a 10-year period, UMG went from EUR 7 billion to EUR 45 billion. It went up to EUR 45 billion at its IPO.
Think in terms of the value creation. Lucian Grainge was the craftsperson, the visionary of this value creation. He's the one who was able not only to manage the relationship with the biggest artists to have 9 of the top 10 albums, but he also, with Vivendi, was part of the emergence and creation of the entire ecosystem of the music industry. If you look at this bonus that, yes, is high, you can say it's a very high bonus. I understand your reaction. I understand full well. But look at this in conjunction with the value creation for all of us as shareholders. This is under 1% of the value creation. You have to look at the percentage here.
To compensate the artisan of this tremendous value creation, the biggest, one of the biggest IPOs of the year, at least in Europe, under 1% of the value, I can say as a shareholder, I am very grateful to his achievement.
Next question, I think is fourth.
Good morning, Chairman. I'm from the Association for Individual Shareholders. A couple of very brief questions. Firstly, surprisingly, in terms of operational risk, a major operational risk for your company. You're a leader in most of your business lines. Could you tell us how you're developing your HR policy, both in terms of attracting new talent and retaining employees? Second question, you talked about the metaverse and NFT. I'd like to know how this new technology can be a growth driver for Vivendi. I appreciate any answers.
Thank you very much, sir. To maybe answer on the metaverse and on talent. Okay, first of all, metaverse. Vivendi Group has knowledge in this area. We operate via Gameloft several metaverses. There are lots of new metaverses being launched.
The group decided to stay at the forefront of innovation, as we heard during the Havas presentation. They acquired virtual land in the metaverse. The idea is to propose a Vivendi experience for all the business lines through the metaverse. There can be conferences, lectures during an upcoming pandemic. We could meet through avatars, maybe more comfortable than if we were just at home behind our screens. Maybe we could watch virtual concerts, play games in the Vivendi space. The idea is to be very much part of the building of this new ecosystem, the construction of the ecosystem. With our IP and our abilities, we will be able to do so. We will find value to be created for all stakeholders. Now, it's early days to really talk specifically about the metaverse.
Let's wait for the next AGM to draw the first conclusions. We're moving into this area. Now to talent management. All the HR managers and CEOs of business lines are doing everything to attract to the top talent. Yes, we're an industry that's part of the creative industry. Talent is at the very core of what we do every single day, whether you're talking about actors, directors, authors, screenwriters, singers, artistic managers at Havas or developers at Gameloft. The main common denominator among all these activities of the group are people. The men and women that contribute their talent, their creativity to serve your group.
Therefore, it's up to us to create a strategy of results and projects, a corporate culture that firstly will be the most attractive, secondly will retain, and thirdly give a career outlook to these people. That's what all the business managers are doing every single day with other team members. What we do with Yannick and all the members of your Management Board, the idea is to develop a company that attracts people, that makes them want to come work here. We also are forward-looking, and we support people during times of change, making sure that in this company. Stéphane said earlier we're like a family. Yes, we are like a family.
We want us to continue to have the ability of maintaining the affection people have for this family and the desire to remain on board to develop this group in all of its creative dimensions. We're talking about tangible things, actual tools and instruments we use that we are setting up gradually to bring on board and retain. Also, there are intangible elements so that people feel they're part of the Vivendi house that's giving them prospects and helping attract talent and retaining talent, enabling them to develop throughout their careers. This is what we focus on every single day.
Thank you, Arnaud. Go ahead, sir holding board number one. We gave the floor to him earlier.
Yes. Thank you. On April 22, Friday, at 10:00 A.M., a few hundred meters from here in the Casino de Paris, there was the last AGM of Lagardère SA shareholders as an independent company. That company, since April 14, has been covered by a takeover bid launched by Vivendi for the 55% of the capital that it doesn't yet hold. During the Q&A session, I asked four questions of Mr. Lagardère. I suggest I might ask them today due to the takeover bid. First of all, in the next 5 years, will Lagardère still have its three areas of excellence, publishing, travel, retail, and the media? Second point. In the next 5 years, will Lagardère still maintain its current scope? Thirdly, in the next 5 years, members of the Lagardère and Bolloré families, will they still be allies and friends?
Lastly, in the next five years, the name Lagardère will it continue to be attached to the company after the tie-up and merger that takes place?
Thank you, Mr. Roche. Let me make a clear answer. Arnaud will build on this. Answer to the first question is yes. Answer to the second question is yes. Answer to the third question is yes. Answer to the fourth question is yes. There you go. I don't know if Arnaud would like to. I'd like to say hello to you, sir. It was my pleasure to be there when you asked those questions. I was representing the Vivendi Group at the Casino de Paris, 10 A.M., Friday morning at that AGM. I can tell you that I would only add to what Yannick said, as I think was also the case when Arnaud Lagardère answered you.
Mr. Roche, we'll have to meet in 5 years' time to see. All right. I promised the person with the red tie and the blue mask that I'd give him the floor. I told him earlier I'd give him the floor. Let me give it to him now.
Hello, sir. I'm a shareholder who whispers to the ears of CEOs. I've whispered in the ear of Mr. Vincent Bolloré for many years. I've got three questions. First of all, regarding Telecom Italia, we would like to know if there's an intention to buy out TI at EUR 0.55. My observation is that you sold your activities in Africa, withdrawing over EUR 5 billion. I was wondering, would you be prepared to launch a takeover bid? Furthermore, since you split your share, basically, Bolloré looks like a startup of EUR 4 or EUR 5.
Unworthy of your name, the Bolloré name. Furthermore, by paying out from UMG, I just think this is not worthy of your name. You should put together the shares, because at the EUR 4 price, it just is pitiful. The Bolloré share price with your name on it. I mean, I wouldn't be proud. With the Paddington Bear, you wanted to make a new park, theme park. Have you given up on that idea? Paddington 3 release. I was wondering what are the prospects there? Thank you.
Yes. I wanted to say this sincerely. I missed you. It's true. I missed seeing you here, so I'm very delighted to see you here again, and I'm glad that henceforth you'll be able to whisper in my ear. Okay, about the Bolloré share price at EUR 5. A startup. Well, the startups are pretty good, huh? Could be worth a lot. It's because there was a split. Share split. It's not that the value plummeted. The value didn't go down, precisely the opposite. For Vivendi, it went to EUR 12 because we paid out EUR 24 of UMG.
Vivendi + UMG would be at EUR 35-EUR 36 versus, as I said earlier, under 1/3 of that, just less than 10 years ago. Now, regarding Paddington. Simon, maybe you can answer that later. You can talk to him about the theme park later, during the beverages later. Briefly on Italy now. Thank you for that question, sir. Absolutely. Now that wasn't actually a bid. You're re-alluding to a letter of intent subject to lots of different considerations, and it never panned out. We can't consider what you're referring to KKR vis-a-vis Telecom Italia. We can't say it was an actual bid they were making. They made a statement of intent. Vivendi at that juncture said that regarding TI, we set our sights much higher and at any rate in terms of the TI value.
Even though it wasn't an actual bid, I want to specify that and clarify that point. It wasn't an actual bid. To our mind, Telecom Italia, the whole reason we're the biggest shareholder, is a company with great potential in a promising industry of the future. We intend to act as shareholder to make sure that this value is brought to fruition. I've mentioned what we've already done in terms of UMG Group and what we achieved there with the ongoing unwavering support from a benchmark shareholder, Bolloré Group, which demonstrated its ability to create value for the very long term with the results we're all familiar with. If you look at the example of Universal Music Group, it's the case in all of our business line, all of our initiatives. I think of Telecom Italia.
You can also mention the Prisa group in Spain. Our intention is to be part of value creation and the appropriate valuation of beautiful businesses that either we are shareholders of or owners of. Thank you very much.
Thank you. Let's continue, take a few more questions. Next question, please.
It's a gentleman.
No, I said lady. Sorry.
Excuse me. Good morning, Mr. Chairman. Thank you.
Good morning, Chairman. Thanks for your presentation. Well done to the teams for the good results. My question concerns the European Commission and the Competition Commission. This question has been widely discussed and answered. My thanks for that. I would nevertheless like to follow it up. Do you have a plan B? What would happen, since we can't totally rule it out, if the Commission considers that the tie-up between Editis and Hachette would give rise to a colossus that would be contrary to the principle of fair competition, and if it were to give a negative finding? What would be the impact on the bid on the offer?
Well, the process, which is one of interaction and dialogue with the European Commission, is separate from the public offering. That's the first point.
Second point is that our job is to ensure that we can prepare for all scenarios. It's clear that the question that arises in terms of the Brussels Antitrust Authority is the position in France. Since we have already had occasion to say they're working, the Vivendi teams and the Editis teams in exchange of information with the Lagardère teams via a highly organized formal process, very professional, a clean room where we're supplying all the information to provide tangible answers to avoid problems of competition that we would de facto be faced with on the French market if we tied up the two companies.
It's happening in the best possible climate, and we hope in the autumn to be able to be more specific on the ins and outs of this tie-up, but let me say that it's Brussels that masters the timeline. We're bringing our full support and effort to supply them with the efforts so that they can steer and confirm this project.
Thanks, Arnaud.
Next question. Okay, no one on that side. Let's move to the other.
Back to the VN-Vivendi UMG deal that really sticks in the craw. I assume that for Vivendi Bolloré, the tax were good for the savings plan holders, pretty neutral. For shareholders who had their shares in a an investment account, it was an outright disaster, and I'm wondering if it's not the tax authority that set out the rules to give its go-ahead.
I was thinking at the outset that the book value was at 18 EUR for UMG, whereas we came up against first listed price at 25.25. We gifted 30% of UMG, so at 25.25, 30%, 8.40 EUR disappeared. Personally, on many shareholders, we ended up with debtor accounts. Your transaction cost me 12,600 EUR for as many shares. Why didn't you simply apply the rule first share price giving no value to the company that's fully notional? I recall splits, Accor, Edenred, Atos, where we paid nothing. Why were we taxed on the basis of the first listed price that's the most catastrophic for shareholders? It wasn't a real split. You kept 10% of UMG. Thanks.
Well, thank you for your question. We've received many such similar questions at the shareholders club. Hervé, just to taxation, it's not pocketed by Vivendi, and it's not Vivendi that sets the rules on the payout. I mean, there's tax because it's a payout of dividend and all the characteristics of that taxation, not set by Vivendi, but by the state. In the rules, this idea of first listed share price. Unfortunately, that's the way things are. We need to kind of put the cost of this taxation into perspective because it really depends on the individual situation of shareholders. Those that had them as part of a plan weren't taxed. Those in a securities plan saw their value reduced by as much, and so taxation at exit that would potentially be reduced.
Unfortunately, I mean, the rules are what they are, set by the state, and we can't do anything about it. Of course, if you have questions, we're fully available, investor shareholder relations, to assist you on these matters. Thank you, Hervé. Thank you for that question. Next question. We're not gonna take many more questions because it's almost 1:00 P.M. I'll be brief. Well done to the management team, to you, Mr. Bolloré. Been a shareholder for over 20 years now. Just a question on the share price as a shareholder. The past, the future, given the macro climate, as you said, I mean, the word that everyone's uppermost in their minds is inflation and the various units of the group that are B2C, Canal+, Editis. Not Havas, 'cause they're really in the B2B.
You know, the analysts today are looking above all at the possibility for companies' pricing power. I mean, as you see things, Canal, Editis, Gameloft, do they have this pricing power, the ability to up subscriptions to maintain the profitability of the share price? 'Cause at EUR 11.50, I mean, we haven't yet slumped. I mean, it's about -8% since the start of the year. We're at -20% on the NASDAQ.
In your committees, have you thought about this possibility of maintaining prices or even increasing them to take account of inflation?
Thank you. Well, that's a very good question concerning inflation. I'll try and answer briefly, and Maxime, Michel, and Claire can come in.
Canal+ has experienced inflation for a long time. You look at sporting rights constantly on the up, Champions League, soccer league. I mean, all the sporting rights has inflation that's way above current inflation levels and has managed not only to maintain its subscriber base, but even grow it by maintaining a relatively low price compared to the past. Canal+ has managed and knows how to manage inflation. On paper, I mean, it has an impact on Editis and Prisma Media. Is the pricing power at Editis and Prisma maybe a little, but not infinitely, and inflation's not good news, even if other groups are less impacted by inflation than can be our group. On the share price.
Well, I shouldn't be saying this perhaps, but we're not very worried about the Vivendi share price, because if you look at the value of the holdings sale, we mentioned that we're close to EUR 9 billion in equity investments, treasury stock. The day you take the valuation of Vivendi, we're at around 13 billion this morning. In that range, that means that all Vivendi assets own 100% Canal+, Havas, Prisma, Editis would have a market cap of EUR 3.5 billion-4.4 billion. Knowing the price of assets, I mean, barring a major crash worldwide, we're pretty confident the valuation potential of the share price going forward. Either Arnaud on this.
Well, I would just add that, regarding this challenging period that we've entered in the medium- to long-term future, it doesn't seem to augur any major improvement within the various activities that make up Vivendi. We're already working on planning, if need be, to take steps in order to retain the necessary nimbleness, precisely to overcome inevitable price increases. We see the impact on the cost of living as we demonstrated during COVID. Even if we can't necessarily compare the situations, we're in uncertain periods. We must gear up, take all the right measures to weather it as best as possible. Any period of difficulty generally is an opportunity to strengthen, and it's with that mindset that we are weathering the current period to pave the way for the future. Well, final question. It's 1:00 P.M.
Final question, we can always respond to your questions offline.
Yes, I'm an individual shareholder. I have three quick questions. Firstly, congratulate you for the acquisition of Prisma Media that puts out the magazine Capital. That's very interesting, very insightful on the economy and can be quite critical. That prompts my comment on the first question on Dailymotion and Gameloft, especially Gameloft. My question, what's your take, what's your assessment of the integration of Gameloft into the group? In parallel Dailymotion, how can we fight against YouTube when we only have 5% market share? Isn't it just pointless deploying too so many resources? Wasn't it too little, too late? Second question on Canal+.
In spite of a marked improvement, you are faced with competitions, real steamrollers, Disney+, Netflix, who have a lot of firepower. How can we fight against these giants that, of course, are depreciating their CapEx on a very significant number of subscribers? Final question that ties in with the first. How do you plan to manage conflicts of interest that will necessarily arise between the articles published in Capital that enjoys journalistic credibility versus the situation of Vivendi group companies? Thank you.
Well, thanks for those three questions. I'll answer because I think that the votes are looming and our teams are available to provide you with additional information. Let me say on the Gameloft front, well, Gameloft, we considered and consider the games as part of Vivendi's strategy.
Gameloft has undergone a transformation of its business model, and today has adapted to a market that's increasingly geared towards delivery platforms. With the Gameloft teams, this transformation has brought Gameloft back into the black and with good prospects. Dailymotion, as Maxime said, is a platform that is far behind YouTube, but it has a clear strategy to be the quality content platform that is the most friendly towards the content owners investing in quality content and defending a proposal that it sets it apart in terms of the technological and qualitative offer of what YouTube does. On Canal, I'm sure Maxime Saada has demonstrated clearly why we believe Canal+
Offers very specific prospects and model. If we are only indeed a dwarf compared to the major players, we may not have the size, but we have the agility, the quality, and a past that pleads in favor of our future. In that context, the strategy, as outlined by Maxime Saada, allows us to be cautiously optimistic because we are, as you said, very competitive environment. Lastly, our business is all about doing the best for those who read, listen, and see us. Our policy is very clear when it comes to steering our media. The Editor-in-Chief of Capital, François Genthial, who works with Claire Léost, is our goal on the brand's capital, but the same goes for all our media, is to provide the best in what we make available to our readers, our viewers.
I'd like to thank you for your loyalty to Capital. That, for Prisma Media, is one of the flagship brands going forward. Thank you. It's 1 P.M. Ladies and gentlemen, let's now vote on the resolutions, and if we haven't been able to answer the questions, we haven't met for three years, we'll answer the questions. Please send us the question. We'll try and answer those as soon as possible. I'll call up the two tellers, and over to you.
Merci, Yannick. Thank you, Yannick. Ladies and gentlemen, we have 27 resolutions for your approval today, submitted by your Management B oard and your supervisory board. As every year, the voting system is electronic. If there were a technical problem to happen, you've all got voting cards you can use that we can then use to vote by hand with an optical reader afterwards. Maître Fabienne Bich and Maître Denis Calippe , officers of the court, will be reporting on the smooth operations of this voting process. You'll be voting like every year when you see the hourglass on the screen. Three keys. You can press one for, two against, three for abstention. You will then see whether you voted in favor, against, or abstained, and then you can see that your vote has been tallied.
Now I'd like to begin voting on the first resolution, approval of the parent company financial statements for fiscal 2021. Please begin voting. No further voting.
The resolution is adopted. Next resolution, number 2, approval of consolidated financial statements for fiscal year 2021. Please begin voting. No further voting.
Resolution is adopted, 99.972%. Resolution three, approval of the Statutory Auditor's special report on regulated related party agreements. Please begin voting now.
No further voting.
No further voting. The resolution is adopted, 98.60%. Resolution 4, allocation of earnings for fiscal year 2021, setting of the dividend and its payment date. Please vote now. No further voting. The resolution is adopted, 99.88%. Resolution five, approval of the information referred to in Article L.22-10-9 I of the French Commercial Code, as set out in the corporate governance report. Please begin voting. No further voting. The resolution is adopted, 59.04% in favor. Resolution six, approval of the components of compensation and benefits in kind paid during 2021 to Yannick Bolloré, Chairman of the Supervisory Board. Please begin voting. No further voting. The resolution is adopted, 62.70%.
Resolution seven, approval of the components of compensation and benefits in kind paid during or allocated for 2021 to Arnaud de Puyfontaine, Chairman of the Management Board. Please begin voting. No further voting. The resolution is adopted 78.018%. Resolution eight, approval of the components of compensation and benefits in kind paid during or allocated for 2021 to Gilles Alix, Member of the Management Board. Please begin voting. No further voting. The resolution is adopted 88.68%. Resolution nine, approval of the components of compensation and benefits in kind paid for 2021 to Mr. Cédric de Bailliencourt, Member of the Management Board. Please begin voting. No further voting. The resolution is adopted 66.71%.
Resolution ten, approval of the components of compensation and benefits in kind paid for 2021 to yours truly, Member of the Management Board. Please begin voting.
No further voting.
The resolution is adopted 88.74%. Thank you. Yes, Resolution eleven, approval of components of compensation and benefits in kind paid for 2021 to Simon Gillham, Member of the Management Board. Please begin voting. No further voting. The resolution is adopted 88.74%. Next resolution, approval of the components of compensation and benefits in kind for 2021 to Hervé Philippe, Member of the Management Board. Please begin voting.
No further voting.
The resolution is adopted 88.74%. Resolution 13, approval of the components of compensation and benefits in kind paid for 2021 to Stéphane Roussel, Member of the Management Board. Please begin voting.
No further voting.
The resolution is adopted 88.74% in favor. Resolution 14, approval of the compensation policy for the Chairman and members of the Supervisory Board for 2022. Please begin voting.
No further voting.
The resolution is adopted 65.15% in favor. Resolution 15, approval of the compensation policy for the Chairman of the Management Board for 2022. Please begin voting.
No further voting.
The resolution is adopted 97.23% in favor. Resolution 16, approval of the compensation policy for members of the Management Board for 2022. Please begin voting.
No further voting.
The resolution is adopted 96.27% in favor. Resolution 17, renewal of the term of office of Philippe Bénacin as member of the Supervisory Board. Please begin voting.
No further voting.
The resolution is adopted 66.14% in favor. Resolution 18, Renewal of the term of office of Cathia Lawson-Hall as member of the Supervisory Board. Please begin voting.
No further voting.
Resolution is adopted 99.71% in favor. Resolution 19, renewal of the term of office of Michèle Reiser as member of the Supervisory Board. Please begin voting.
No further voting.
The resolution is adopted 99.68% in favor. Resolution 20, renewal of the term of office of Katie Stanton as member of the Supervisory Board. Please begin voting.
No, it's Katie Stanton. There's a problem.
Katie Stanton, yes.
I was at Katie Stanton.
Yes, this is the resolution on Katie Stanton, which is resolution 20, but on the screen, it has resolution 21.
Maybe we should.
What did we vote on then? On the twenty-first?
It's 20 or 21 now.
Are we on 20 or 21?
It's good. It's back. Okay.
Okay, it's back on track. Let me repeat this. Resolution 20, renewal of the term of office of Katie Stanton as member of the Supervisory Board. Please begin voting.
No further voting.
The resolution is adopted 99.71% in favor. Resolution 21, appointment of Ms. Maud Fontenoy as member of the Supervisory Board. Please begin voting. Here it is. Okay. Please begin voting now.
The vote is closed. No further voting.
The resolution adopted 98.67% in favor. Resolution 22, authorization granted to the Management Board for the company to repurchase its own shares within the limit of 10% of the company's share capital. Please begin voting.
No further voting.
The resolution is adopted 99.75% in favor. Resolution 23, authorization granted to the Management Board to reduce the company's share capital by canceling shares within the limit of 10% of the share capital. Please begin voting.
No further voting.
The resolution is adopted 99.94% in favor. Resolution 24, share capital reduction in the maximum nominal amount by way of repurchase of company own shares, 50% of share capital being the maximum to reduce capital price maximum of EUR 16. Please begin voting.
The vote is closed. No further voting.
Resolution is adopted 71.22% in favor. Resolution 25, delegation of authority granted to the Management Board to increase the company's share capital in favor of employees and retirees who are members of the Vivendi Group Employees' Stock Purchase Plan with cancellation of shareholders' preferential subscription rights. Please begin voting. No further voting. Resolution adopted 99.57% in favor. Resolution 26, delegation of authority granted to the Management Board to increase the share capital in favor of employees of Vivendi's foreign subsidiaries who are members of Vivendi's International Group Employee Stock Purchase Plan or for the purpose of implementing any equivalent mechanism with cancellation of shareholders' preferential subscription rights. Please begin voting.
No further voting.
The resolution is adopted 99.44% in favor. Last resolution 27, powers to carry out formalities. Please begin voting.
The vote is closed.
No further voting.
Resolution is adopted 99.99% in favor.
Thank you. Thank you very much, Frédéric. Thank you very much, shareholders. All the resolutions were very much adopted. This shows your confidence in our strategic choices and encourages us to continue with our project for new Vivendi. Before officially adjourning the meeting, I'd very much like to thank all the teams who contributed to the smooth operations of this annual general meeting. Thank you to the Vivendi teams, the Olympia teams, Shortcut teams, and all people who from within our entities took part in preparing for this event. Thank you again, dear shareholders. The meeting stands adjourned. Thank you.