TelevisaUnivision Q4 Earnings Reflect Advertising Challenges and Streaming Growth

Despite a 7% revenue decline due to a U.S. advertising slowdown, TelevisaUnivision's streaming service Vix ends 2023 with over 7 million subscribers, projecting profitability in 2024.

• TelevisaUnivision's Q4 revenue fell 7% year-over-year to $820.7 million, with U.S. advertising revenue down 5% amid a general market downturn.
• The company's streaming service, Vix, concluded 2023 with more than 7 million subscribers and $700 million in full-year revenue, expecting to turn profitable later in 2024.
• A $1 billion non-cash impairment loss was recorded, attributed to market conditions and rising interest rates, impacting the company's bottom line.
• In Mexico, advertising revenue grew 10%, contributing to a 1% increase in total ad revenue despite the U.S. decline.
• CEO Wade Davis emphasizes innovation in pay-TV and the strategic importance of the Spanish-speaking market, projecting a strong 2024 with significant U.S. political opportunities.

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