NEW YORK — “TelevisaUnivision delivered another strong quarter of double-digit growth,” shared Wade Davis, Chief Executive Officer of the world’s biggest producer of Spanish-language audio and video content as the company’s third quarter earnings report was released.
While TelevisaUnivision is not publicly traded, and Univision was unsuccessful in launching an initial public offering of stock prior to its merger with Mexico’s Televisa, the financial results paint an important portrait as to the health of an entity squarely focused on a vitally important growth market for the U.S.: Hispanics.
How did TelevisaUnivision perform in Q3? It was record-breaking, as the company’s revenue climbed to $1.28 billion in the three-month period ending September 30, 2023, compared to $1.15 billion in Q3 2022.
Net income grew to $46.4 million, from $33.6 million.
Furthermore, TelevisaUnivision’s total assets grew to $18.31 billion from $17.49 billion.
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What drove TelevisaUnivision in the third quarter? It wasn’t the Uforia-branded audio assets in the U.S., nor was it the Univision, UniMás or Galavisión TV units. Rather, the profit was driven largely by double-digit growth in Mexico ad sales and “substantial growth” in global direct-to-consumer enterprises — a sign that the focus of TelevisaUnivision on its ViX platform has paid off as the OTT economy continues to roar globally. A plus: a 60% reduction in ViX-associated losses.
Still, domestic revenue was on the upswing. U.S. advertising revenue grew 3%, ex-political. This, TelevisaUnivision says, was driven by “record-setting demand” for sports and tentpole events. Factoring in the political dollars seen in Q3 2022, ad revenue declined by 1%.
The blemish for TelevisaUnivision? Weaker performance in local advertising, which was offset by strength in national advertising.
