Hispanic media giant TelevisaUnivision posted relatively flat results in the fourth quarter compared with the same period in 2023.
Revenue for the Mexico-U.S. firm in the frame ended December 31 slipped 1% to #1.3 billion. U.S. revenue inched up 2% to $835.5 million despite the presidential election, with U.S. ad revenue climbing 2% to $476 million. About $70 million in political ad spending was recorded during the October-to-December span, the company estimated – a modest amount compared with the haul for some industry peers, but still a sizable boost.
Foreign currency fluctuations hurt the company’s Mexico results during the quarter. Factoring out those headwinds, the unit posted double-digit gains.
Operating income before depreciation and amortization, the metric cited as a key measure of profitability by the privately held company, inched up 3% to $451.9 million.
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Subscription and licensing revenue increased 3% to $466 million. The U.S. grew 5% to $347 million while Mexico declined 3% to $119 million.
Daniel Alegre, a veteran of the tech sector who took over as CEO of TelevisaUnivision last year, said the U.S. election cycle “underscored the power and influence TelevisaUnivision has to deliver the Hispanic vote through our reach and connection with the community. With our newly unified organizational structure, we are fully harnessing the strengths of Univision in the U.S. and Televisa in Mexico to drive further connectivity and expand our impact as a global content leader.”
After replacing Wade Davis as CEO last September, Alegre oversaw a reshaping of the management team during his initial weeks at the helm as well as the layoffs of hundreds of staffers. With a background in video games and tech, including a 16-year run at Google, Alegre is attempting to give the parent of the Univision broadcast network a 21st century makeover, steering it through the challenges faced by all owners of linear TV assets.
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