TelevisaUnivision announced its third quarter results for 2023, unveiling the major milestone for its streaming service, as well as revenue growth of 11% to reach 1.3 billion dollars.
TelevisaUnivision, the Spanish-language media and content company, today announced financial results for the third quarter ended September 30, 2023.
Total revenue grew 11% to US$1.3 billion, fueled by double digit growth in Mexico ad sales and substantial growth in global DTC.
In addition, U.S. advertising revenue grew 3%, excluding political and advocacy spend, driven by record-setting demand for sports and tentpoles.
In terms of streaming, the company surpassed 40 million monthly active users on global Spanish-language streaming service, ViX, and expanded its distribution to make the service available across all major connected television devices.
In terms of ratings, TelevisaUnivision delivered the highest primetime Spanish-language market share in the U.S. in nine years propelled by sports, novelas and tentpoles.
Lastly, DTC losses improved by nearly 60% and total adjusted OIBDA was flat with the company’s linear networks business continuing to fully fund investments in DTC.
“TelevisaUnivision delivered another strong quarter of double-digit growth, which propelled us to historic highs in a number of areas in our business, including record third quarter revenue in the U.S.,” said Wade Davis, Chief Executive Officer of TelevisaUnivision.
“On the linear screen in the U.S., we achieved our highest primetime Spanish-language market share in nearly a decade and in Mexico our flanker channel 5 outdelivered the main channel of our largest competitor for the first time in history.”
“As of September 30, ViX has been live in the marketplace for four full quarters and has surpassed 40 million MAUs. Importantly, our relentless focus on efficiency and financial discipline is paying dividends as we saw nearly 60% improvement in our DTC losses this quarter and remain on track to deliver a profitable DTC business in the middle of next year, which would be the fastest trajectory to profitability for any major streamer in history.”
