Fast growing digital music sales and the ongoing popularity of online multiplayer video games helped Vivendi (EPA: VIV) to a recession-beating 15 percent year-on-year revenue growth in the first half of 2009.

—Activision Blizzard: The games division continued to power on - revenues up 300 percent from last year to €1.49 billion (£1.31 billion; $2.13 billion) and EBITDA up 360 percent to €373 million (£328 million; $534.4 million), both at constant exchange rates, on sales of Call Of Duty, Guitar Hero and the unstoppable World of Warcraft (11 million paying subscribers and counting). However, the division’s full-year revenue forecast of €4.8 billion $4.8 billion (€ billion; £2.95 billion) has been downgraded to €4.5 billion (£3.9 billion; $6.4 billion) $4.5 billion (€3.1 billion; £2.7 billion) because of a change in the H209 launch schedule. Corrected.

—Universal Music Group: The world’s biggest major, scored 29 percent more digital sales than last year, credited to U2 and Lady Gaga, who sells far more digital tracks than physical. One third of the company’s music sales are digital, in the US it’s closer to 50 percent. But digital still isn’t offsetting the overall decline - recorded music sales across all formats were still lower, and UMG revenue finished 5.3 percent down at €2 billion (£1.76 billion; $2.86 billion), with EBITDA 23.1 percent down to €211 million (£185.9 million; $302.4 million), at constant currencies. Earnings were also hit by €37 million (£32.6 million; $53 million) in restructuring costs, though. The Vevo music video site, in partnership with Google-YouTube, will be live by the end of the year.

Across the group, Vivendi’s adjusted net profits rose 0.9 percent to €1.46 billion (£1.28 billion; $2.86 billion) on 15 percent higher revenue of €13.17 billion (£11.6 billion; $18.1 billion) and it predicts “strong” profit growth for the rest of 2009. For April to June specifically, Vivendi profit rose 8.1 percent to €818 million (£720 million; $1.17 billion) on 11 percent higher revenue of €6.64 billion (£5.85 billion; $9.51 billion).

For CEO Jean-Bernard Lévy, the strong results are directly because of consumers’ appetite for online media: he says the economic slowdown is having a “real but limited impact… (because) our businesses are young and enjoy substantial growth opportunities due notably to the digital revolution.”

Release (pdf) | Webcast

Other Vivendi units…

—Zain deal off Vivendi had been considering acquiring Kuwaiti telco Zain Africa, but Lévy told journalists in a conference call (via Reuters) that the deal was off. He added that he’s “very cautious on external growth” due to the company’s vast €8.5 billion (£7.48 billion; $12.1 billion) debt pile, accumulated via a string of acquisitions and investments in recent years.

—NBCU diminished returns Vivendi—which owns 20 percent of the NBC Universal TV network—made €72 million (63.4 million; $103.1 million) from the joint venture in the first half, compared to €118 million (£103.9 million; $169 million) in H108

—SFR: The French and North African telco made €6.14 billion in revenue, a 16.1 percent rise on H108, as the business continued to grow after the acquisition of rival French operator Neuf Cegetel (revenues are up just 0.3 percent excluding the acquisition). EBDITA was £1.29 billion (£1.13 billion; $1.84 billion) The company added 559,000 new mobile customers, 61 percent of new additions to the market, and 275,000 new broadband customers.

—Canal+ Group: The pay TV operator made revenues of €2.25 billion (£1.98 billion; $3.22 billion) a 1.9 percent year on year rise at constant currency, and EBITDA of €472 million (£415.8 million; $676 million), 34.5 percent rise on H108.

• Earnings: Vivendi’s Mergers Help Q1 Revenue Jump 23 Percent
• Earnings: Vivendi Finds Money In Music, NBCU Drags, ‘Record’ Games Profit
• Vivendi Games-Activision Merger Approved By EC; Claims Of ‘Unfair’ Music Competition Brushed Aside