Spanish broadcaster Televisa-Univision said subscriptions for its streaming service Vix Plus helped boost the company’s overall revenue during the second quarter of the year.
On Thursday, Televisa-Univision said it earned $794 million in revenue during Q2, a 6 percent increase compared to the same time period in 2022. Subscription and licensing revenue grew 10 percent to $325 million, spurred in large part by more customers buying the premium tier of Vix Plus, while advertising revenue grew 1 percent to $453 million.
In Mexico, advertising revenue grew 29 percent, contributing substantially to the company’s overall ads-based business. The company cited better foreign exchange rates among the various factors for increased revenue in that sector.
“This was a fantastic quarter for Televisa-Univision, accelerating our revenue growth into double digits and continuing to drive our leadership position in Spanish-language streaming with Vix — all through a disciplined approach in which our core business continues to offset investments in streaming,” Wade Davis, the CEO of Televisa-Univision, said in a statement.
Vix originally launched as Prende TV in 2021, before rebranding to its current name last year following the merger between Groupo Televisa and Univision.
Vix operates two streaming businesses: A free, ad-supported service that serves up a limited amount of Spanish-language TV shows and movies, and a premium plan called Vix Plus that offers an expanded content library as well as live access to some sports events.
Unlike streaming services like Netflix, Disney Plus and Paramount Plus, Televisa-Univision doesn’t disclose the precise number of domestic or global subscribers for Vix Plus. Earlier this year, Davis disclosed during a conference call that the free version of Vix has around 25 million monthly active users.