TelevisaUnivision reported a 7% year-over-year increase in revenue due to direct-to-consumer proceeds and linear networks in Mexico, but flat domestic ad revenue dragged down overall results.
Total ad revenue increased 7% to $648 million. In the U.S., though, ad revenue was flat with the prior year, with the company saying that growth in streaming was offset by “some softness” in its linear networks.
Subscription and licensing revenue increased 9% to $473 million, but in the U.S. it was flat at $327 million. Growth in both the U.S. and Mexico was driven by ViX’s premium tier, but linear TV continued to experience subscriber losses.
Univision and the media holdings of Mexico’s Grupo Televisa closed their $4.8 billion merger in January 2022. TelevisaUnivision is privately held.
“The U.S. and Mexico corridor, which is at the center of our massive global opportunity, continues to show remarkable strength with our Mexico business posting an exceptionally strong quarter, led by the advertising business,” CEO Wade Davis said in the earnings release. “Although we are only one quarter into the year, 2024 is shaping up to be a historic year for us as our audience is likely to be the deciding factor in the upcoming U.S. elections and we expect that to drive commensurate political ad revenue.”
