Televisa's Q4 Earnings More Than Doubled to $213 Million
Network's satcaster Sky Mexico, which added 291,000 new subscribers, led the boost in revenue.
MEXICO CITY -- Mexican media powerhouse Televisa on Thursday said fourth-quarter earnings more than doubled thanks in large part to strong growth at its pay TV and telecom divisions.
Quarterly net income for the nation's top network came in at 2.6 billion pesos ($213 million), up from about 1.2 billion pesos a year ago.
Net sales rose nearly 9% to 16.5 billion pesos. Leading the revenue surge was Televisa-owned satcaster Sky Mexico, which saw a spike in its subscriber base with 291,000 new clients. Televisa's cable and telecom units also performed well, drawing in more than 350,000 new customers.
The world's largest producer of Spanish-language content added that programming exports rose for the quarter as well. Televisa attributed the gains to higher royalty payments received from its stateside partner Univision and higher revenue generated from product sold to Brazil.
In December, Televisa and Univision closed a billion-dollar deal that extends their existing long-term program license agreement to 2025. Televisa provides Univision with the bulk of its primetime content. The Spanish-lingo media titans also agreed at the time to a PLA for Mexico, giving Televisa rights to air Univision programs here.