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As the first broadcaster out of the gate with second quarter financial results, TelevisaUnivision, the Spanish specialist, has set a bar high enough that few of its general market competitors are expected to clear it.
Total revenues grew 11% to $1.2 billion, with the U.S. up 6% to $794 million, while Mexico gained 22% to $426 million. CFO Carlos Ferreiro noted that the company benefitted from the strong peso, since most of its costs are in Mexico, while most of the revenue is in the U.S.
“Now, looking at advertising, consolidated revenue grew 10% [to $738 million],” the CFO told Wall Street analysts. “In the U.S. it grew 1% [to $453 million], or 4% if we exclude political and advocacy. The growth was driven by streaming, while linear revenues were roughly flat. The scatter market remains challenged, reflecting macro-driven softness that has proceeded for a few quarters now.” Ad revenues in Mexico grew 29% [to $285 million], or 14% excluding the impact of foreign exchange.
CEO Wade Davis noted that TelevisaUnivision’s ad sales outperformed the market in the US. “Our national business, which accounts for the majority of our U.S. advertising revenue, was strong this quarter, growing 7%, while the local business was roughly flat, excluding political and advocacy,” he said.
“Looking ahead, from a timing perspective, we’re progressing toward closing our U.S. upfront on the same timeline as the rest of the industry. The timeline is pretty much the only thing we’ll have in common with the rest of