TelevisaUnivision, the world’s largest producer of Spanish-language audio and video content, posted impressive financial results for the third quarter of 2023. The earnings report comes despite the company not being publicly traded.
In Q3 2023, the company reported record-breaking revenue of $1.28 billion, up from $1.15 billion in the same period last year. Net income also showed a significant boost, rising to $46.4 million from $33.6 million in Q3 2022. The total assets of TelevisaUnivision increased to $18.31 billion, up from $17.49 billion.
The financial growth was primarily driven by a surge in Mexico ad sales and a notable expansion in global direct-to-consumer enterprises. TelevisaUnivision’s focus on its ViX platform appears to be paying off, especially as the OTT economy continues to flourish globally. The company also reported a 60% reduction in losses associated with ViX.
On the US front, advertising revenue grew 3%, excluding political factors. However, when accounting for the political dollars in Q3 2022, the ad revenue showed a decline of 1%. The company experienced weaker performance in local advertising, but this was balanced by stronger national advertising.
