Spanish-language media and content company TelevisaUnivision announced financial results for the first quarter ended January 31, 2022 for Univision Communications Inc. The group closed the merger between Univision and Televisa's content business on January 31, creating TelevisaUnivision.
According to the report, TelevisaUnivision reported strong financial results. Consolidated pro forma revenue for the quarter grew 12.2% compared to the prior year, advertising revenue increased 12.0%, and Subscription and Licensing revenue increased 14.3%, reflecting solid growth in both the United States and Mexico. Moreover, adjusted OIBDA increased 6.7% pro forma as revenue growth fully funded investments in streaming.
The company's combined portfolio of US broadcast and cable nets grew primetime ratings by 9% versus the prior year - the fastest growing large media company in the United States, the report remarked. In fact, the company’s portfolio of US linear assets' share of Spanish language primetime viewing rose 430 bps to 63.6%, while its Total Television primetime viewing share rose 100 bps to 6.5%.
The Univision network sustained the fourth quarter of 2021 momentum, and achieved primetime growth of 23%, the highest growth among all major US networks. At the same time, the company's Mexican networks grew their weekday broadcast market share from 54 to 60%. In Mexico, the group’s networks grew broadcast ratings by 13% driven by the flagship Las Estrellas channel.
“Our first quarter of 2022 clearly demonstrated the great potential of our now combined company. We continue to move forward as the fastest growing media and entertainment company. We’re seeing fantastic results across the board, including ad sales and distribution revenue growing double digits, which makes us very optimistic about the rest of the year,” said Wade Davis, CEO of TelevisaUnivision.
“On March 31, 2022, we unveiled our streaming service, ViX, introducing our AVOD tier to tremendous excitement, and this is just the beginning. Our growth-oriented strategy is supported by ratings increasing 23% in the Univision network, the highest among all major US networks. In Mexico, we further distanced ourselves from the competition with 60% market share of weekday broadcast. I am ecstatic to build upon this momentum with a world-class team that is already working as one,” Davis added.
Our first quarter of 2022 clearly demonstrated the great potential of our now combined company” Wade Davis CEO of TelevisaUnivision