Spanish-language media giant TelevisaUnivision reported higher adjusted profitability for its third quarter, driven by “continued growth” in streaming profits and the impact of previously taken cost-cutting measures.
But the company reported a 2% decline in U.S. revenue on Thursday, to $831.3 million in the third quarter of 2025, as an 11% drop in advertising revenue could not be fully offset by an 11% increase in subscription and licensing revenue, which is smaller in dollar terms. Excluding political ads, U.S. revenues would have been stable.
The decline in U.S. advertising to $428.2 million, an 8% decline when excluding political advertising, occurred as growth in direct-to-consumer (DTC), or streaming, was more than offset “by weak linear.” In Mexico, advertising revenue increased 3 percent to $327 million, driven by DTC growth.
Subscription and licensing revenue increased 3% in the most recent quarter to $493 million. “Growth was driven by ViX’s premium tier and increased content licensing revenue, partially offset by linear declines in subscriptions primarily related to the renewal cycle with a key distribution partner in Mexico, partially offset by growth in the United States,” the company said. The United States saw a gain of 11 percent to $388 million, while Mexico declined 17 percent, but grew 5 percent when excluding the impact of the renewal cycle.
TelevisaUnivision had reported its first streaming profit in the third quarter of 2024. ViX is expected to be the fastest growing subscription streaming service in the Americas in 2025, according to Ampere Analysis forecasts.
Total third-quarter revenue of $1.3 billion fell 3 percent, or 1 percent if political advertising is excluded. In Mexico, turnover fell 3 percent. Operating expenses, however, fell 8 percent to $804.0 million.
TelevisaUnivision’s third-quarter operating profit was $265 million, down from $419 million a year earlier, when a gain from the sale of non-core towers boosted results. Excluding last year’s gain, operating profit increased 3 percent.
Adjusted operating income before depreciation and amortization (OIBDA) increased 9% to $467 million in the third quarter, “driven by continued DTC profitability growth and sustained benefits from cost efficiency initiatives implemented in late 2024,” TelevisaUnivision said. He did not immediately detail the scale of DTC’s benefits.
“Our third quarter results demonstrate the disciplined execution of our reimagined content strategy and the continued momentum of ViX as a key growth engine,” said Daniel Alegre, CEO of TelevisaUnivision. “Our leadership is further strengthened by the audiences we serve: we wield outsized influence in the United States, unrivaled in Mexico, and generate cultural and commercial impact around the world. »
