Spanish-language media company TelevisaUnivision, which owns 35 radio stations across the US, may have posted a net loss in excess of $900 million in its 2023 Q4 results, but analysts are still considering the results a win as the company moves to right itself.
The bright side saw CEO Wade Davis report a reduced net loss of $918.8 million, down significantly from a $1.568 billion net loss in 2022. The broadcaster’s operating losses also decreased. However, revenue saw a slight dip to $1.36 billion from $1.44 billion year-over-year in Q4 2023, alongside an impairment loss of $1.0 billion.
The majority of the earnings call focused on TelevisaUnivision’s Over-The-Top streaming service, ViX. In its first year, the platform brought in $700 million in revenue and is due to become fully profitable by the second half of 2024.
Davis also took time to underscore the significant market potential in the US for Hispanic media, emphasizing the anticipated growth in 2024 driven by the US political landscape.
The Q4 results do not break down TelevisaUnivision’s financials by division, so there are no specifics on how the company’s radio stations and Uforia digital audio platform contributed to the end product.
