Revenue Up, OIBDA Down
TELEVISAUNIVISION first quarter 2023 total revenue rose 6% year-over-year to $1.1 billion, with total advertising revenue up 6%, driven by a 14% increase in MEXICO while U.S. advertising revenue grew 2% (5% excluding political). Adjusted OIBDA fell 10% to $361 million, blamed on costs associated with the VIX streaming service.“I’m very happy with the start of 2023 from both an operational and financial perspective. We grew revenue across all lines of business and all geographies. In the U.S., ad sales continues to outpace the market, reflecting growing advertiser appreciation of the power and value of our audience as they shift share away from over-spent general market,” said CEO WADE DAVIS. “Having just closed a record Upfront in MEXICO, we are excited to carry our momentum into the coming U.S. Upfront. ViX continues to be an engine of growth and I am very pleased with the significant increases in engagement and consumption on the platform as well as the continued narrowing of losses as we progress towards profitability.”The company does not break out results for its radio properties in its quarterly financial releases.
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