Televisa and Univision, who closed the $4.8 billion merger of their content businesses in January, recorded $1 billion in Q1 revenue on a pro forma basis — up from $896 million the year prior — in their first earnings report as TelevisaUnivision.
The separate entities had strong ties before they became the largest Spanish-language media company in the world, merging their sports divisions in 2019.
Operating expenses for the quarter grew 16% year-over-year to $608 million due to investments across the company, including its streaming business and increases in sports, entertainment, and news programming costs. Advertising revenue increased 12% to $569 million, while subscription and licensing revenue jumped 14.3% to $407 million.
TelevisaUnivision made a couple of other milestones during the quarter.
TelevisaUnivision was the No. 2-rated network on all of TV in the U.S. for the first time ever in February.
It launched its new streaming service, ViX AVOD, in the U.S., Mexico, and most of Spanish-speaking Latin America, with plans to launch a premium subscription platform later this year.
