TelevisaUnivision targets streaming profitability by end of year

TelevisaUnivision is eying profitability for its streaming operations this year. 

The Spanish-language media giant reported growth in its second quarter financials, which also showed slightly stronger advertising sales that helped offset losses in subscription and licensing revenue.

Overall revenue grew by 3% to $1.3 billion, including an 8% boost in its Mexico markets and 1% growth in the U.S. 

Advertising revenue was up 6% to $785 across the company, with a 2% increase in the U.S. that was realized thanks to direct-to-consumer products outweighing a softer linear market. 

Ad revenue in Mexico was up 13%, reaching $323 million, in growth that was driven by linear networks, according to the report.

Operating expenses grew 6% to $896 million, however, while subscription and license revenue was down 2% to $445 million. Of that, U.S. markets saw a 1% dip with Mexico declining 3%.

The report noted these declines were driven by lower content licensing and linear subscribers, with premium-tier streaming subscribers offsetting some of the decreases in the other areas.

TelevisaUnivision executives also drove home the point that they expect streaming to become profitable by the end of 2024. 

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The company launched ViX two years ago, but didn’t provide detailed updated subscriber figures in its 2Q 2024 reporting. 

It did reveal that the service hit 50 million monthly active users, up from 40 million it announced at the end of September 2023.