TelevisaUnivision powered to its highest third-quarter revenue total in the U.S. to date, up 5% year-over-year, as overall global revenue increased 11% to $1.28 billion.
The Spanish-language media company also touted growth of streaming service ViX to more than 40 million monthly active users and said the direct-to-consumer segment was on track to become profitable in mid-2024.
Q3 advertising revenue was up 11%, to $777 million, which TelevisaUnivision attributed to record-setting sales for the Concacaf Gold Cup soccer tournament and 20th anniversary of tentpole music awards show Premios Juventud, which aired July 20 from Puerto Rico. In the U.S., however, ad sales declined 1% year-over-year.
Subscription and licensing revenue jumped 18%, to $473 million. Growth in both the U.S. and Mexico was driven by ViX’s premium tier, pricing growth on linear subscribers and increased content licensing revenue driven by demand for ViX premium content. (The company does not break out the number of ViX premium subscriptions.) According to the company, TelevisaUnivision improved losses in its direct-to-consumer business by almost 60% in Q3.
Net income was $46.4 million, up 38%, thanks to a $29.5 million gain on the sale of certain assets.
“TelevisaUnivision delivered another strong quarter of double-digit growth, which propelled us to historic highs in a number of areas in our business, including record third quarter revenue in the U.S.,” CEO Wade Davis said in prepared remarks.
On linear TV in the U.S., TelevisaUnivision captured 65% share of primetime Spanish-language viewing in the quarter, its highest market share in nearly a decade; its primary rival in the U.S. is NBCUniversal’s Telemundo. In Mexico, the company’s flanker Canal 5 “out-delivered the main channel of our largest competitor for the first time in history,” Davis said.
During the quarter, the company expanded ViX’s distribution footprint with the launch on Vizio, LG and Hisense smart TV, to now have nearly full coverage of the connected TV market.
TelevisaUnivision, formed through the January 2022 merger of Televisa and Univision Communications, lays claim to being the top producer of original content in Spanish across news, sports and entertainment. In addition to broadcast networks Univision, Las Estrellas, Canal 5 and UniMas, the company owns a portfolio of 38 cable networks, which include TUDN, Galavision, Distrito Comedia and TL Novelas. It also operates Mexican movie studio Videocine, and owns and operates the largest Spanish-language audio platform in the U.S. across 35 terrestrial stations and the Uforia digital platform.
Pictured above: Danna Paola (l.) and Sofía Reyes perform at the 2023 Premios Juventud Awards in San Juan, Puerto Rico