TelevisaUnivision announced financial results for the first quarter ended March 31, 2023, and revealed that its total revenue grew 6% to US$1.1 billion, driven by growth across all major revenue streams in both Mexico and the United States.
Total advertising revenue also grew 6%, which was led by Mexico advertising growth of 14% that was driven by record volume in its 2023 Upfront, as well as a benefit from foreign exchange rates. In the United States, advertising revenue grew 2% – or 5% excluding political and advocacy –, driven primarily by demand for the ViX streaming service.
Furthermore, global subscription and licensing revenue grew 7%, driven primarily by the launch of ViX’s premium subscription tier. Regarding this streaming platform, TelevisaUnivision noted that engagement on ViX continued to grow, with 26% growth in total streaming hours per user over the course of the quarter. At the same time, the company’s flagship network in Mexico, Las Estrellas, continued leading the free-to-air market with its highest first quarter share in the last seven years.
“I am very happy with the start of 2023 from both an operational and financial perspective. We grew revenue across all lines of business and all geographies. In the United States, ad sales continues to outpace the market, reflecting growing advertiser appreciation of the power and value of our audience as they shift share away from over- spent general market,” said Wade Davis, Chief Executive Officer of TelevisaUnivision.
“Having just closed a record Upfront in Mexico, we are excited to carry our momentum into the coming US Upfront. ViX continues to be an engine of growth and I am very pleased with the significant increases in engagement and consumption on the platform as well as the continued narrowing of losses as we progress towards profitability,” Davis concluded.