TelevisaUnivision sees streaming go profitable, record political ad buys

Spanish-language media giant TelevisaUnivision reported strong third-quarter results, largely driven by record political advertising in the U.S., while also seeing its streaming sector become profitable ahead of schedule.

The company booked $852.4 million more in revenue for the third quarter of 2024, an increase of 6%. Advertising revenue was also up 5% thanks, in part, to record political ad buys in the U.S.

Total third-quarter revenue was $1.3 billion. The company saw a slight increase in operating expenses — 1% — to $877.5 million, though that’s a 5% increase when foreign exchange rate impacts are removed.

Meanwhile, the company’s streaming efforts, centered around ViX, also hit 7 million subscribed and slid into the black in the last part of 2023. That’s ahead of the project execs made and only two years after debuting.

Complete details about streaming were not initially announced, but reports did indicate that subscription and licensing revenue from streaming was up 1% in the third quarter of 202 to $477.5 million. That includes a 6% boost in the U.S. but a 12% decline in Mexico, though the dip, when converted to local currency, was more around 4%.

Continuing to grow streaming revenue could be key for 2025, which won’t see nearly the same volume of political ad spending. 

Like many broadcasters, political spending spiked after President Joe Biden dropped out of the race and Vice President Kamala Harris’ team ramped up a campaign ad blitz.

The increase in spending on Spanish-language media, as well as several key political coverage events Univision hosted for U.S. audiences, continues to emphasize the impact the Spanish-speaking demographic will have on politics in America.  

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Looking ahead, executives will continue to look for ways to run as a single global company, including big increases in DTC offerings as cord-cutting continues to hinder the broadcast sector.

This will include a review of its operations in both countries with an eye on how to operate more efficiently, including the possibility of shifting more production to Mexico.