Key Points:

• Televisa-Univision saw $1.21 billion in Q2 revenue, down 4% when compared to the same time period in 2024.
• Net income increased to more than $96 million during Q2 2025, up substantially from Q2 2024.
• Streaming platform Vix surpassed 10 million global subscribers, reflecting double-digit, year-over growth.
• A new partnership with Disney adds Televisa-Univision linear channels to Hulu and bundles Vix Plus with Disney Plus in Mexico.

Spanish-language television broadcaster Televisa-Univision published mixed financial results for the company’s second financial quarter (Q2) of the year on Tuesday, with its overall revenue lower compared to the same time period in 2024 but its streaming service continuing to gain ground.

Total revenue for the quarter clocked in at $1.21 billion, down 4 percent compared to last year. Executives attributed the drop to foreign exchange headwinds and a pullback in the Mexican advertising market.

Revenue attributed to Televisa-Univision’s business in Mexico dropped 14 percent to $394 million, while U.S. revenue increased to $816 million, up 2 percent.

Advertising revenue dipped 5 percent year-over-year to $742 million. In the U.S., ad revenue fell 2 percent to $455 million, as linear ratings stabilized and live sports helped buoy performance. Mexico ad revenue declined 11 percent to $287 million, though the company noted it was flat in local currency terms, citing strong viewership for events such as the CONCACAF Gold Cup and FIFA Club World Cup.

Subscription and licensing revenue remained flat at $443 million, up 2 percent on a constant currency basis. In the U.S., revenue in the category rose 9 percent to $348 million, offsetting a 23 percent decline in Mexico to $95 million. The company attributed the decline in Mexico to timing in its distribution partner renewal cycle, though it said that figure would have shown 13 percent growth excluding FX and renewal-related impacts.

Televisa-Univision also highlighted a new distribution agreement with Disney Entertainment that will bring its U.S. networks to Hulu with Live TV and offer a bundled package with Disney Plus and Vix in Mexico.

Earlier this month, DirecTV added access to Vix Plus through its genre-based package MiEspañol, but the move occurred during Q3 and won’t be reflected until Televisa-Univision’s next earnings report.

Operating expenses dropped 9 percent to $812 million as the company continued to realize cost savings from streamlined content, technology, and marketing investments. Cash flow from operating activities jumped to $272 million, up from $88 million a year ago. Net income surged to $96.2 million in Q2 2025, up from $14.1 million in Q2 2024.

“This quarter reflects meaningful progress across our business, driven by a reimagined content strategy that’s beginning to show strategic payoff,” Daniel Alegre, the CEO of Televisa-Univision, said in a prepared statement released by the company on Tuesday. “Our direct-to-consumer business continues to scale, with Vix surpassing 10 million subscribers and delivering double-digit growth through disciplined execution across product and programming.”

The company also improved its balance sheet, refinancing $1.5 billion in debt due in 2027 and bringing its leverage ratio down to 5.5x from 5.8x in the prior quarter.

“As we head into the back half of 2025, we’re energized by the continued momentum of our evolution,” Alegre said.