Spanish-language giant TelevisaUnivision said third-quarter profit declined as the corporate continued its efforts to streamline operations and downturns in linear promoting outpaced recent gains in efforts to bring advertisers to streaming.
The corporate said net income fell to $90.5 million, compared with $180.9 million within the year-earlier quarter, when TelevisaUnivision enjoyed a gain from the sale of a portfolio of towers that weren’t core to its business. Revenue was off 3%, to $1.27 billion, compared with slightly greater than $1.3 billion within the year-earlier period.
“Our third-quarter results exhibit the outcomes of our disciplined execution of our reimagined content strategy and the continued momentum” of the corporate’s ViX streaming service, said Daniel Alegre, the corporate’s CEO, in a prepared statement.
TelevisaUnivison said promoting revenue fell 6% to $755 million in the course of the quarter, citing a decline in linear viewership for its media assets. Subscription and licensing revenue rose 3% to $493 million, thanks partially to consumer interest in ViX in america.
TelevisaUnivision has been working to bolster its balance sheet after Alegre took its corporate reins of TelevisaUnivision from Wade Davis, the previous Viacom CFO who orchestrated a buyout of Univision in 2020 before merging it with Mexico’s Grupo Televisa in 2022, ceded his CEO role to him. Alegre was president and chief operating officer of Activision Blizzard, which was acquired for $69 billion by Microsoft. Davis stays TelevisaUnivision’s vice-chairman. Since Alegre joined last yr, TelevisaUnivision has been working to streamline operations that had previously been siloed by geographic region. The corporate owns media assets in each america and Mexico.