Key Financial Data
- Q1 Total revenue: $1.075 billion (+5% year-over)
- Operating income: $163 million (-13%)
- Adjusted OBIDA: $323.3 million (-6%)
- Net income: $33.3 million (+185%)
- Advertising revenue: $545.6 million (-3%)
- U.S. advertising revenue: $309.9 million (-12%)
- Mexico advertising revenue: $235.7 million (+13%)
- Subscription & licensing revenue: $505.1 million (+15%)
- Other revenue: $24.3 million (+9%)
- U.S. total revenue: $707.7 million (no change)
- Mexico total revenue: $367.3 million (+17%)
- Read more Q1 2026 media earnings coverage
Executives at Televisa-Univision have warned of ongoing pressure in the traditional television advertising business that will grow stronger due to premium sports events aired on other networks throughout this year.
The warning came after Televisa-Univision reported mixed financial results for the first quarter (Q1) of the year, during which the Spanish-language broadcaster earned $1.075 billion in total revenue, or 5 percent more compared to the $1.024 billion it earned last year.
But adjusted operating income before depreciation and amortization (OIBDA) declined 6 percent to $323.3 million, based in large part on higher operating costs and softer advertising trends, the company warned.
In the United States, advertising revenue fell 12 percent to approximately $310 million, driven by continued weakness in linear television. Overall ad revenue declined 3 percent to $546 million, as growth in advertising revenue in Mexico partially offset softness in the U.S. market, Televisa-Univision said. Advertising revenue in Mexico increased 13 percent to $236 million.
Distribution fees charged to cable and satellite companies were a bright spot, with subscription-related income rising 15 percent to $505 million during Q1. That income also includes fees charged to viewers for accessing content through the streaming service Vix.
In the U.S., subscription revenue grew 12 percent to $385 million, supported by continued expansion of Vix and higher average subscription rates. A new carriage agreement with Hulu with Live TV also contributed to gains in subscription income, alongside increased demand for sports content licensing in Mexico.
Stock Price
Televisa-Univision CEO Daniel Alegre described the quarter as a period of “solid performance,” citing growth in streaming and linear distribution despite a challenging U.S. sports environment. He emphasized the company’s focus on multi-platform content strategy and operational discipline as it works to deepen audience engagement.
But Alegre cautioned that competitive pressures will intensify in the coming months, particularly due to the FIFA World Cup, which will air on Fox and Comcast’s Telemundo in the United States.
“We are facing some of the challenges of a softer sports slate,” Alegre said during a conference call with investors on Tuesday, noting that the impact is expected to be more pronounced in the second and third quarters.
The company also cited macroeconomic factors, including reduced consumer spending tied to geopolitical tensions, though Alegre said advertising demand has not yet been directly affected. He indicated that key categories such as automotive, technology and quick-service restaurants may face pressure, with the company seeking to offset declines through growth in pharmaceuticals and financial services.
