For the final quarter of 2024, Spanish-language media titan TelevisaUnivision registered a 2% rise in U.S. earnings, totaling approximately $835.5 million, and a 5% increase in U.S. subscription and licensing revenue, reaching $346.5 million.
As a dedicated fan, I’m thrilled to share that our beloved streaming service, ViX, under the leadership of CEO Daniel Alegre, reported another profitable quarter at the end of 2024. This marks a significant milestone as we achieved profitability just two years into the market. To put things in perspective, we closed out 2023 with over 7 million subscribers and an impressive annual revenue of $700 million.
Fast forward to the second year of our direct-to-consumer (DTC) operation, and ViX generated a staggering $1 billion in revenue and positive adjusted operating income before depreciation and amortization (OIBDA). This impressive feat was emphasized by the company during their Thursday announcement.
José Luis Fabila is currently spearheading global content for the company following a reorganization and workforce reduction overseen by Alegre, which was announced towards the end of last year. This adjustment resulted in a decrease in staff by a percentage within the mid- to high-single digits. TelevisaUnivision recently revealed that the fourth quarter saw restructuring costs, severance payments, and related expenses totaling $53.4 million, an increase from $24.2 million during the same period the previous year. For the entire year 2024, these charges accumulated to $72.9 million, marking a rise from $53.4 million incurred in 2023.
As a devoted follower, I’m sharing some financial highlights from the recent quarter: Although our overall revenue dipped by 1% compared to last year, it expanded by 4% when considering factors beyond foreign exchange. This brought our total to approximately $1.3 billion. However, while the U.S. saw growth, this was overshadowed by a 5% decline in Mexico. Interestingly, if we exclude currency impacts, Mexico’s performance actually improved by 8%. Operating expenses remained relatively steady at about $892 million. On a more positive note, our quarterly loss significantly decreased from last year’s figure, dropping to approximately $809.7 million from $912.1 million.
In the last quarter, TelevisaUnivision’s Operating Income Before Depreciation and Amortization (OIBDA), a significant profitability indicator, experienced a 3% decrease to approximately $451.9 million. However, if we disregard the impact of currency fluctuations, this figure indicates a 3% growth.
In addition to their quarterly report, the company revealed that they incurred $142.5 million and $157.1 million in charges for the impairment of program rights during Q4 2023 and the entire year respectively. They also experienced an annual impairment loss of $900.2 million for 2024, a decrease from $1.01 billion in 2023. These impairment charges are non-cash expenses resulting from routine asset assessments and do not affect their OIBDA, debt ratio, or cash reserves.
In Q4 of 2024, advertising revenue decreased by 1% to reach approximately $851 million. The U.S. contributed $475.6 million, but this was overshadowed by a 4% decline in Mexico. When considering foreign exchange effects, Mexico’s advertising revenue actually increased by 10%.
2024’s complete US advertising revenue growth rate picked up pace to 2%, primarily fueled by an unprecedented increase in sports and political ad spending totaling approximately $70 million, according to the company.
2024 marked a period of ongoing progress for TelevisaUnivision, and my initial time leading the company has only served to highlight the vast potential that lies ahead, stated Alegre, who assumed the role of CEO at TelevisaUnivision in September. The latest U.S. election cycle underscores the significant impact and sway TelevisaUnivision holds within the Hispanic community through its extensive reach and connection with our audience.
He stated: “By combining our organization’s structure, we are effectively leveraging the strengths of both Univision in the U.S. and Televisa in Mexico. This will increase our interconnectedness and broaden our influence as a leading content provider on a global scale.
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2025-02-20 15:24