NEW YORK—TelevisaUnivision became the latest company to show improved finances in its streaming operations, with the company reporting that its ViX streaming service topped 40 million monthly average users (MAUs) in Q3 2023 and that losses in its direct-to-consumer (DTC) segment fell sharply.
That puts the service on “the fastest trajectory to profitability for any major streaming in history,” CEO Wade Davis said.
“TelevisaUnivision delivered another strong quarter of double-digit growth, which propelled us to historic highs in a number of areas in our business, including record third quarter revenue in the U.S.,” Davis said in announcing the Q3 results. “On the linear screen in the U.S., we achieved our highest primetime Spanish-language market share in nearly a decade and in Mexico our flanker channel 5 out- delivered the main channel of our largest competitor for the first time in history. As of September 30, ViX has been live in the marketplace for four full quarters and has surpassed 40 million MAUs. Importantly, our relentless focus on efficiency and financial discipline is paying dividends as we saw nearly 60% improvement in our DTC losses this quarter and remain on track to deliver a profitable DTC business in the middle of next year, which would be the fastest trajectory to profitability for any major streamer in history.”
The company also reported that total revenue grew 11% to $1.3 billion, fueled by double digit growth in ad sales from Mexico and substantial growth in global DTC..
U.S. advertising revenue grew 3%, excluding political and advocacy spend, driven by record-setting demand for sports and tentpoles.
In addition DTC losses improved by nearly 60% and total adjusted OIBDA was flat with the Company’s linear networks business continuing to fully fund investments in DTC.
The company did not release sub counts for its subscription ViX+ streaming service.
