TV Azteca posts record Q2 ad revenue
High demand for World Cup spots boosts salesMEXICO CITY -- Futbol-fever translated into mucho dinero for Mexican network TV Azteca.
The nation's No. 2 broadcaster on Tuesday reported a record-high 2.9 billion pesos in second-quarter sales, driven by advertisers' high demand to run spots during World Cup matches and other soccer-related programming. Quarterly net income came in at 380 million pesos (about $29 million), a 24% rise compared to the previous period.
Azteca and rival broadcaster Televisa, which reported earnings two weeks ago, enjoyed a windfall in ad revenue generated from their World Cup coverage in recent months. Azteca said sales were offset by transmission costs, as well as production and transportation expenses associated with coverage in South Africa. Nevertheless, it was a banner quarter for both media outfits in soccer-mad Mexico.
So much for network executives' concerns that Mexico's second-round exit would cut into profits.