The company’s consolidated revenue grew 11% to US$1.1 billion, while advertising revenue increased 11% driven by strong Upfronts in both the US and Mexico, market share increases, and growth in both linear and streaming.
TelevisaUnivision today announced financial results for the second quarter ended June 30, 2022.
“Double digit revenue growth in the second quarter caps off a stellar first half of 2022. The second quarter saw a historic quarter of ad sales growth in Mexico and a US Upfront that grew mid-teens to the highest volume we have had in seven years. In the US, I’m thrilled to see advertisers demonstrating their commitment to support and grow with US Hispanic audiences,” said Wade Davis, CEO of TelevisaUnivision.
“This growth allowed us to fund the launch of both ViX and ViX+ in the first half of 2022 without any material decline in EBITDA. The fact that the growth of our core business can fund our investments in streaming highlights the power of our unique assets and the quality and focus of our execution. With our full streaming service launched, we are poised to supercharge the already impressive growth of our core business with the massive global Spanish language streaming opportunity. We are just getting started on executing on our vision and I am excited about what’s ahead for TelevisaUnivision.”
The 2022/2023 US Upfront closed with the highest volume growth in seven years, and the second consecutive year of CPM growth.
In addition, market share of Spanish language primetime expanded 40bps to 63.2%, while total television primetime viewing share rose 20bps to 7.0%.
Mexico broadcast channels grew their weekday market share by 250bps.
Consolidated revenue grew 11% to $1.1B. Advertising revenue increased 11% driven by strong Upfronts in both the US and Mexico, market share increases, and growth in both linear and streaming.
Pro forma adjusted OIBDA declined 8% in the second quarter, and 1% in the first half of 2022, as the company’s streaming investments ramped up.
A US$1.5B refinance transaction in June extended the company’s maturity profile, while eliminating its highest-cost tranche of debt
The company ended the quarter with US$684 million in cash on its balance sheet, up from US$529 million at the end of the prior quarter.
The VIX+ subscription streaming service launched on July 21, creating the most comprehensive Spanish-language streaming service in the world.