Wade Davis: Our DTC business is performing extremely well and is on track to be profitable in a few short months
TelevisaUnivision announced financial results for the first quarter ended March 31, 2024.
“2024 started strong with great revenue growth and continued progress across our most important strategic initiatives. Our DTC business is performing extremely well and is on track to be profitable in a few short months. The U.S. and Mexico corridor, which is at the center of our massive global opportunity, continues to show remarkable strength with our Mexico business posting an exceptionally strong quarter, led by the advertising business. Although we are only one quarter into the year, 2024 is shaping up to be a historic year for us as our audience is likely to be the deciding factor in the upcoming U.S. elections and we expect that to drive commensurate political ad revenue. This, in combination with a profitable DTC business in the second half of the year and excellent execution across the rest of the business, will enable EBITDA growth and organic deleveraging – key to achieving our continued objectives of strengthening our balance sheet,” said Wade Davis, CEO of TelevisaUnivision.
Among the highlights of this quarter are:
-Total revenue grew 7% to US$1.1 billion, driven by growth in the Company’s DTC business globally and linear networks in Mexico
-Adjusted OIBDA decreased 5% when adjusted for a one-time accounting-related benefit in the prior year
-ViX saw strong continued growth in overall audience and engagement with total streaming hours more than doubling versus a year ago
-Delivered a record-breaking Spanish-language Super Bowl broadcast in both the U.S. and Mexico, on both linear and streaming platforms
-Refinanced US$340 million of debt, eliminating all maturities until 2026.
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