TelevisaUnivision, the Spanish-language media powerhouse, reported $852.4 million for the third quarter of 2024 and a 6% increase in U.S. revenue. The rise was largely fueled by a 5% growth in U.S. advertising revenue, driven by a record-setting performance in political ad sales during the quarter.
According to the company, its streaming business surpassed 7 million subscribers by the end of 2023 and reached profitability after only two years in the market. While the company had previously projected that the streaming division would become profitable in the latter half of 2024, this milestone was achieved earlier than expected.
TelevisaUnivision revealed that its third-quarter subscription and licensing revenue increased by a modest 1%, reaching $477.5 million. While the U.S. market posted a 6% growth, the company experienced a 12% decline in Mexico; however, full details of the report were not immediately disclosed.
TelevisaUnivison said, “In local currency, it declined 4 percent, reflecting a decline in content licensing and linear platform subscribers, partially offset by growth in ViX’s premium tier.”
Daniel Alegre, CEO of TelevisaUnivision, said, “I am honored to be able to lead this company into its next chapter as we build on the foundations that have been solidified. The significance of the U.S. Hispanic audience has never been more evident than in the presidential election cycle, where our audience will play a decisive role in the outcome of this election in the United States.”
Additionally, TelevisaUnivision reported a 2% increase in total revenue for the third quarter, reaching $1.30 billion. When adjusted for foreign exchange effects, revenue growth stood at 6%. The company’s performance in the U.S. offset a 5% decline in Mexico. Operating expenses rose by 1% to $877.5 million, or 5% excluding foreign exchange impacts, driven by ongoing investments in the ViX streaming platform, expansion of its third-party ad sales business in Mexico, and increased spending on sports-related content.