Spanish-language media giant Televisa Univision reported a 6% increase in U.S. advertising revenue to $852.4 million in the third quarter of 2024. That’s according to the company’s political ad revenue record for the third quarter, which reported a 5% increase in U.S. ad revenue.
The company previously said its streaming business, which closed in 2023 with more than 7 million subscribers, would become profitable in the second half of 2024, but “we have achieved profitability two full years after entering the market.” said.
Although details were not immediately disclosed, the company said third-quarter subscription and license revenue rose 1% to $477.5 million, with a 6% increase in the U.S. and a 12% decline in Mexico. did. “In local currency, there was a 4% decline reflecting content licensing and linear platform subscriber declines, partially offset by growth in ViX’s premium tier,” Televisa Univision said.
“Yuga Labs’ CEO Daniel Alegre, former president and COO of Activision Blizzard and recently named new president, said: He is CEO of TelevisaUnivision and assumed the role on September 19th. “We are at a critical crossroads in our evolution and will continue to focus on integrating our traditional companies into an integrated global organization. Our goal is to reach our audience wherever they are. to become a content-first, platform-agnostic organization that connects with people.”
Mr. Alegre concluded: “Additionally, we will leverage our unique insights about Hispanic consumers to drive growth and innovation. Together, we are ready to redefine the future and achieve new heights.” Mr. Wade Davis has been moved from the position of CEO to the position of Vice Chairman of the Board.
TelevisaUnivision’s third-quarter total revenue increased 2% (6% excluding foreign exchange effects) to $1.3 billion, with growth in the U.S. outweighing a 5% decline in Mexico. Operating expenses increased 1% to $877.5 million (5% excluding currency effects) due to continued investment in streaming service ViX, expansion of the company’s third-party ad sales business in Mexico, and higher sports-related expenses. ).
As a result, Televisa Univision’s quarterly adjusted operating income before depreciation and amortization (OIBDA), a key revenue metric, rose 4% to $427.1 million.
Third-quarter advertising revenue increased 3% to $799.2 million, led by the U.S. to $483.1 million. This means that “growth in direct-to-consumer advertising and political advertising outweighed Mexico’s 1% decline.” “The increase was 10%, reflecting the acquisition of popular sports content such as the Olympics and the Olympics.”
TelevisaUnivision’s management has repeatedly touted the critical role its media assets will play in the lead-up to and outcome of the 2024 U.S. election. Mr. Alegre’s company will make its first earnings announcement late Tuesday morning.
