When it comes to the currency fueling TelevisaUnivision‘s fourth-quarter success, it is the Peso, not the Dollar.
The world’s largest Spanish-language content creator and distributor enjoyed a 15% year-over-year ad revenue increase in Mexico. However, this was nearly offset in its entirety by a double-digit decrease in advertising at its U.S. media brands.
For the three-month period ending December 31, 2025, privately held TelevisaUnivision saw its total revenue slip by 2%, to $1.323 billion USD from $1.344 billion USD in the same period of 2024.
Total operating expenses jumped by 4%, to $926.4 million from $892.3 million, while the non-GAAP figure of Adjusted OIBDA slid by 12%, to $396.4 million from $451.9 million.
The big blemish? Domestic ad revenue.
U.S. advertising revenue declined 9% to $1.7 billion, or 6% excluding political advertising, as ViX-driven DTC growth was offset by linear declines, the company shared.
In Mexico, advertising revenue actually declined 1% to $1.3 billion, but it grew 2% in local currency. This was supported by OTT platform ViX and “private-sector linear growth” driven by increased upfront investments from recurring partners and favorable scatter dynamics. This was only partially offset by lower local advertising in Mexico.
That’s not to say ViX is the golden goose for TelevisaUnivision.
Subscription and licensing revenue declined 2% to $1.8 billion, or 1% excluding foreign exchange, as growth in ViX’s premium tier and higher U.S. linear subscription and licensing revenue “were more than offset by declines in Mexico due to the impact of the renewal cycle with a key distributor.”
For TelevisaUnivision CEO Daniel Alegre, 2025 was a pivotal year for the company, “our first as a new leadership team and the first in which we showcased our revamped content and platform investment and windowing strategy. We meaningfully transformed our business and delivered on the expectations that we set at the outset of the year.”
Still, TelevisaUnivision logged a Q4 2025 net loss, albeit a much lower one than in the last three quarters of 2024, shifting it downward to $234.7 million USD from $809.7 million USD.
The company’s domestic radio and television station revenue was not disclosed.
