TelevisaUnivision announced its financial results for Q4, 2023, unveiling notable growth for its DTC division.
TelevisaUnivision today announced financial results for the fourth quarter and full year ended December 31, 2023.
Revenue grew 5% to US$ 4.9 billion; excluding non-recurring World Cup sublicensing and U.S. Midterm political spend in 2022, revenue grew 9%.
Adjusted OIBDA declined 4%; excluding World Cup sublicensing and U.S. Midterm political spend in 2022, it grew 3% reflecting improvements in DTC profitability.
U.S. advertising revenue grew 5% excluding political and advocacy spend and divested radio stations, as the company continued to outperform the broader advertising market
Total DTC revenue exceeded US$700 million in the first full year of operation for ViX.
ViX ended the year with more than 7 million subscribers while MAUs on the free ad-supported tier continued to grow in the fourth quarter.
Announced strategic renewal with Charter, expanding the partnership to include TelevisaUnivision’s linear channels as an integral part of its forthcoming Spanish-language internet-delivered video package, as well as launching the new ViX Premium con Anuncios, which will be available for Spectrum customers who receive TelevisaUnivision channels as part of their Spectrum TV Select or Mi Plan Latino packages.
Refinanced US$1.84 billion of debt through January 2024, eliminating all maturities until 2026.
“In TelevisaUnivision’s second year, we demonstrated that our strategy, our assets and our execution against a differentiated market opportunity can yield superior operational and financial results. We outperformed both the U.S. and Mexican advertising markets. Our DTC business finished its first full year of operation with over $700 million in revenue and our strategy to build complementary linear and streaming platforms is resonating with audiences and our distribution partners as evidenced by our strategic early renewal with Charter which will include a new ad supported premium tier of ViX,” said Wade Davis, Chief Executive Officer of TelevisaUnivision.
“We are the Spanish language media leader with roughly 60% share of linear viewership in the U.S. and Mexico and the largest dedicated Spanish language streaming service in the world. The size and power of our markets continue to build and provide us with important tailwinds. The U.S. is already the most valuable Spanish speaking market in the world by GDP and this year Mexico surpassed Spain as the second largest market, with these two markets alone representing $4.7tn of GDP. This is the backdrop for an even stronger 2024 in which we are poised to capture a massive U.S. political opportunity and have sustained DTC profitability on the horizon.”
