TelevisaUnivision announced its financial results for the first quarter ended March 31, 2026, reporting a 5% increase in total revenue to $1.1 billion. The growth was driven by the expansion of the company’s global direct-to-consumer business and a stable underlying core performance. CEO Daniel Alegre highlighted the continued expansion of the ViX streaming platform and the linear distribution business, noting that these results were achieved despite a competitive sports programming environment in the United States.
The consolidated total revenue benefited from favorable foreign exchange rates, which provided a 500 basis points advantage. Regionally, total revenue in the United States remained flat at $708 million. In contrast, total revenue in Mexico experienced a 17% increase, reaching $367 million. When excluding the impact of foreign exchange rates, the revenue growth in Mexico was 2%.
The company’s advertising segment recorded a 3% decrease, generating $546 million. In the U.S. market, advertising revenue fell by 12% to $310 million, as growth in the direct-to-consumer segment was offset by softness in linear networks. Meanwhile, advertising revenue in Mexico increased by 13% to $236 million, propelled by direct-to-consumer growth, which helped offset a shift in private sector advertising campaigns related to the FIFA World Cup to later quarters. On the other hand, subscription and licensing revenue grew by 15% to $505 million. The U.S. market saw a 12% increase to $385 million, while Mexico experienced a 28% jump to $120 million. This upward trend in both regions was supported by ViX‘s premium tier and higher average rates. Furthermore, U.S. figures benefited from a new partnership with Hulu Live TV, and Mexico’s results were bolstered by content licensing driven by demand for sports rights.
Operating expenses for the quarter rose by 11% to $752 million, or 5% excluding foreign exchange impacts. This increase was primarily attributed to marketing investments and sports programming costs, particularly those associated with the Winter Olympics in Mexico. Consequently, Adjusted OIBDA decreased by 6% to $323 million. Operating income was reported at $163 million, representing a $24 million decline compared to the prior year, reflecting higher direct operating expenses, increased selling, general and administrative expenses, and elevated restructuring costs.
Regarding cash flow and balance sheet metrics, the company generated $31 million from operating activities during the three months ended March 31, 2026, compared to $69 million in the same period the previous year. Investing activities included capital expenditures of $34 million. TelevisaUnivision ended the quarter with $411 million in cash and a leverage ratio, measured as net debt to OIBDA, of 5.7x. In April, the company addressed its upcoming 2028 debt maturities by issuing $1.5 billion in new Senior Secured Notes due 2033 and offering to purchase for cash all of its outstanding $1.4 billion in Senior Secured Notes due 2028.
