The Spanish-language TV giant, led by CEO Wade Davis, swung to a loss in the first quarter far smaller than the most recent fourth quarter red ink due to year-end non-cash impairment loss.
Spotify Hits 210M Paying Subs and 515M Users in Record First Quarter, But Revenue Falls Short Amid Ad Headwinds
TelevisaUnivision said engagement on ViX continued to rise from the most recent fourth quarter, with total advertising revenue rising 16 percent to $607.4 million, while it grew 2 percent in the U.S. market to $398.4 million. Subscription and licensing revenue was also up 16 percent to $436.1 million, driven largely by the launch of ViX’s premium subscription streaming tier.
Besides streaming service launch costs, TelevisaUnivision has said it expects ViX to reach profitability by the end of this year. The ViX streaming service is set for a stepped-up launch outside of the U.S. and Mexico, and mainly in Columbia, Peru and the rest of Latin America in the rest of 2023.Read More About:
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