TelevisaUnivision CEO Wade Davis took the opportunity to highlight the power Hispanic media will have during the upcoming Presidential election during the company’s Q1 2024 earnings call. The Spanish-language broadcaster operates 35 radio stations in the US.
Davis noted the strategic role of engaging Latino voters, emphasizing TelevisaUnivision’s pivotal position in reaching the now-critical demographic. “Hispanic registered voters exceeded the prior margin of victory in at least 45 House races, where a net pickup of just two Democratic seats would swing the House majority.”
He continued, “The US Hispanic electorate are potentially the largest, if not only, swing vote at play in the 2024 elections. 62% of US Hispanics say they’ll vote based on their view of the candidate’s position on issues rather than political party alliance. The candidates recognize this. We’re confident that Democrats and Republicans understand Hispanic voters will be determinative of both the Presidential race and control of Congress and that Univision is the platform to reach them.”
While not breaking the results down by media category, TelevisaUnivision reported US revenue of $739.9 million, with modest gains in subscription, licensing, and advertising revenues balancing a decline in other revenue streams.
Total company revenue increased by 7 percent to $1.1 billion. However, a 16 percent rise in operating expenses to $820.5 million pressured profits.
The US advertising revenue showed slight weakness in linear networks, totaling $399.4 million, while in Mexico, advertising revenue surged by 19 percent to $249 million, attributed to increased private sector activity. This helped push total advertising revenue up by 7 percent to $648 million for the quarter.
Much of the company’s growth was driven by the premium tier of its ViX OTT video platform, despite ongoing subscriber losses on linear platforms. The introduction of a new ad-supported tier of ViX Premium is anticipated soon, which the company believes will bolster its streaming growth further.
