Spanish-language TV broadcaster TelevisaUnivision said on Tuesday that its revenue would grow 12.2% to more than $1 billion in the first quarter when we look at its combined business, which started with a $4.8 billion mega-merger at the end. of January.
The giant, which combines the assets of Spanish-language media company Univision with the content and production assets of Mexican TV giant Televisa, is led by Chief Executive Wade Davis, who at the time was former Viacom CFO Alfonso from Angoitia. As Executive Chairman of the Board. He reported the professor’s first quarter results, which “assumes that Televisa’s content business was acquired on January 1, 2021.”
TelevisaUnivision’s advertising revenue increased 12.0% in the first quarter to $569 million, including a 14.3% increase in US ad revenue, “driven by the upcoming 2021/2022 success, which had the largest volume and price growth in company history. Activate rebrand, grow previously low-volume accounts, and improve in all key industries. Subscription and license revenue increased 14.3% to $407 million.
Operating income before depreciation and amortization, the key profitability metric, was $397 million, compared with $372 million a year ago. Quarterly earnings for which the company did not provide pro forma figures were $36 million, up from $66 million a year ago.
The company launched the VIX streaming service, a free ad-supported video-on-demand service in late March, and is preparing to launch its VOD service for VX+ 2022 subscribers in the second half of the year.
“Our first quarter of 2022 clearly showed the great potential of our now-united company,” said Davis. “We continue to grow as the fastest growing media and entertainment company. “We are seeing fantastic results around the world, including double-digit growth in advertising sales and distribution revenue, which makes us very optimistic about the rest of the year.”
Commenting on the company’s streaming strategy, he said: “On March 31, 2022, we launched our streaming service, ViX, which brings us our level of VOD advertising with great enthusiasm, and this is just the beginning. Our growth-oriented strategy supports 23% (at) rating growth on the Univision Network, the highest of any major network in the United States. In Mexico, we are even further behind the competition with a 60% market share in the weekly broadcast. I’m excited to build on that momentum with a world-class team that is already working as one.
Source: Hollywood Reporter
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