TelevisaUnivision Posts Q2 Loss Despite Boost From Mexico World Cup

Spanish-language media giant TelevisaUnivision said it posted a loss in the second quarter despite a swell of revenue from its rights to air the World Cup in Mexico, a sign of the challenges the company, formed from the combination of Univision in the U.S. and Grupo Televisa in Mexico, continues to face.

The company posted a loss of more than $10 million on revenue of nearly $1.33 billion. Revenue for the period soared 10%, compared with $1.21 billion in the year-earlier period. TelevisaUnivision attributed much of the increase to advertising and licensing fees associated with its Mexican sports rights.

Indeed, advertising from operations in Mexico rose 19%, driven in large part by commercials tied to telecasts of FIFA World Cup, compared with lackluster results in the U.S,. where advertising revenue slumped 22%. Overall ad revenue fell 9% during the period. TelevisaUnivision in April replaced its ad-sales chief, just days before holding its annual “upfront” presentation.

Subscription and licensing revenue rose 40% during the second quarter, to $621 million. Approximately $90 million in revenue came from sublicensing the company’s FIFA World Cup rights to media properties in other Spanish-speaking Latin American countries.

TelevisaUnivision has been working to bolster its balance sheet since Wade Davis, the former Viacom CFO who orchestrated a buyout of Univision in 2020, ceded his CEO role to Daniel Alegre, a former senior executive at Activision Blizzard.  Since Alegre joined in 2024, TelevisaUnivision has worked to streamline operations that had previously been siloed by geographic region.

In a statement, Alegre gave credit to the power of the soccer spectacle. “The tournament reinforced why
soccer is a cornerstone of our strategy and why we are the ‘Home of Soccer’ for Hispanics. Sports, together with our continued investments in live events and premium entertainment, ensure that we remain the destination for culturally relevant moments that matter,” the executive said. “Combined with our unique connection to our audience and the importance of our platforms heading into the U.S. election cycle, this momentum positions us well to drive sustained profitability while creating even greater value for our audiences, advertisers, and partners.”

Operating expenses increased 16% to $940 million, mainly driven by sports costs associated with the FIFA World Cup. Operating income was $224 million, a decrease of $17 million versus prior year, which the company attributed to higher direct operating expenses.