Sales of traditional advertising inventory in Mexico and connected TV inventory in the United States helped boost Spanish-language media giant Televisa-Univision’s overall revenue during the second quarter (Q2) of 2024, the company revealed on Tuesday.
Overall advertising revenue grew to $785 million during Q2, representing a 6 percent year-over increase. In the U.S., ad revenue jumped 2 percent ($462 million) thanks to higher inventory sales against the streaming service Vix, while linear channel ad sales helped increase that segment by 13 percent ($323 million) in Mexico.
“Global ad sales momentum accelerated, driven by a strong marketplace in Mexico and success in the U.S. in attracting new advertisers to our platform,” Televisa-Univision CEO Wade Davis said in a statement that accompanied the earnings release on Tuesday. “We are looking forward to the second half of the year where the benefits from (streaming’s) turn to profitability, the U.S. presidential election cycle, and execution across the rest of our business, should yield a great next couple of quarters.”
The uptick in advertising revenue helped partially offset lower cash from subscriptions to Vix and other products, with the company logging a 2 percent decline in subscription-based revenue to $445 million for the quarter. The figure included a 1 percent dip in subscription revenue from the U.S. and a 3 percent decrease in the same segment in Mexico.
The company didn’t reveal any new data in terms of the number of subscribers who pay for Vix in the U.S. or other territories, though it did say Vix has more than 50 million global monthly subscribers, compared to 40 million that was revealed at the end of last September.
In addition to Vix and the Televisa and Univision broadcast networks, Televisa-Univision operates Las Estrellas, Videocine, Foro, Nueve/9 (stylized as NU9VE) and Canal 5 (Channel 5) in Mexico, along with Unimas, Galavision, TUDN (formerly Univision Deportes, or Univision Sports) and the Uforia Audio Network in the United States.
