TelevisaUnivision reported positive net income for the second quarter as revenues increased 11%
The company reported net income of $1.8 million after posting a $7.5 million loss a year ago.
Revenues were $1.2 billion, compared to $1.1 billion in the year ago quarter.In the U.S., revenues were up 6% to $793.6 million.
Advertising revenue grew 10% to $737.5 million, including 29% growth in Mexico. U.S. ad revenue rose 1% to $452.6 million. Streaming ad demand was strong as the company rolled out new ad formats, the company said..
Global subscription and licensing revenue was up 14% to $453.3 million, driven mainly by adoption of streaming service ViX’s premium subscription tier, the company said. Engagement with ViX was up 17% compared to Q1.
"This was a fantastic quarter for TelevisaUnivision, accelerating our revenue growth into double digits and continuing to drive our leadership position in Spanish-language streaming with ViX— all through a disciplined approach in which our core business continues to offset our investments in streaming,” said CEO Wade Davis, “Leading our portfolio this quarter was extraordinary growth in Mexico, where we strategically programmed across linear and the ad-supported and premium subscription tiers of ViX to drive 22% revenue growth. This is a terrific example of the components of our ecosystem working together to deliver amazing financial performance.”
