It ended 2023 by pushing more than $1 billion in debt repayments from 2025 to 2028 at a higher interest rate. But don’t think for a minute that TelevisaUnivision is challenged when it comes to its revenue. As CEO Wade Davis said with the release Thursday of the privately held company’s Q1 2024 earnings report, “2024 started strong with great revenue growth and continued progress across our most important strategic initiatives.”
That said, Adjusted OIBDA was down 9% and domestic revenue was flat year-over-year, with improvements in Mexico accounting for most of the positive news for the company.
For the first three months of 2024, domestic advertising revenue was flat, at $399.4 million (rising $1 million from Q1 2023). In Mexico, ad revenue grew by 19%, to $248.5 million (based on Peso conversion rates).
That helped TelevisaUnivision see a total revenue gain of 7%, to $1.149 billion. That said, total operating expenses increased by 16%, to $820.5 million.
And, it was higher expenses that led to an operating income dip to $134.3 million, from $186.5 million.
Put all the numbers together, and the net loss for TelevisaUnivision widened to $52 million, from $3 million.
The company did not break out its domestic revenue by media.
