TelevisaUnivision Q2 2023 results: total revenue grew 10% to US $1.2 billion, driven by Mexican advertising, exchange rate impact, and global subscription and licensing revenue from ViX.
According to the financial results announced by the company, total advertising revenue grew 10%, which was led by 29% advertising growth in Mexico, which included a benefit from foreign exchange rates. Global subscription and licensing revenue grew 14%, driven primarily by ViX’s premium subscription tier. Adjusted OIBDA (Operating Income Before Depreciation and Amortization) held flat, with the company’s core linear business continuing to fund investments in ViX fully. According to Televisa Univision, Engagement on ViX continued to grow, with 17% sequential growth in total streaming hours.
TelevisaUnivision Q2 2023: Advertising
In the U.S., advertising revenue increased 1%. This growth, albeit low but added to 14% growth in Q4 2023, supports the trend of U.S. Hispanic media companies weathering the advertising recession better than the large tech giants. This reflects strength in national advertising and momentum in streaming, where the Company continues to see demand from advertisers and increased pricing as the company leverages its new ad formats. In Mexico, advertising revenue increased 29%, or 14%, excluding the impact of foreign exchange, driven by growth across all sectors in both linear and streaming.
Referring to TelevisaUnivision Q2 2023 results, Wade Davis, Chief Executive Officer of TelevisaUnivision, said that “This was a fantastic quarter for TelevisaUnivision, accelerating our revenue growth into double digits and continuing to drive our leadership position in Spanish-language streaming with ViX— all through a disciplined approach in which our core business continues to offset our investments in streaming.” Davis added that leading TelevisaUnivision’s portfolio this quarter “was extraordinary growth in Mexico, where we strategically programmed across linear and the ad-supported and premium subscription tiers of ViX to drive 22% revenue growth. This is a terrific example of the components of our ecosystem working together to deliver amazing financial performance.”
Soccer Rights: LigaMX
Underscoring the importance of soccer in TelevisaUnivision’s content, the company expanded its market-leading soccer portfolio and secured the rights to two key Liga MX teams this quarter; C.F. Monterrey and Xolos de Tijuana. TelevisaUnivision now holds the rights to 17 of the 18 teams in the U.S. and Mexico. (LigaMX recently elected former TelevisaUnivision executive Juan Carlos Rodriguez .
Note: Article written with content on Business Wire press release and added content by Portada Editorial.