Revenue climbs 1.4% in third quarter
Leading U.S. Hispanic web Univision managed to stem a downward slide in revenues in its third quarter financial results. Net revenue for the period rose 1.4% to $526.8 million from $519.4 million for the same period in 2008.
However, for the nine months ending Sept. 30, Univision’s net revenue dipped 4.6% to $1.45 billion from $1.5 billion in 2008.
The company’s third-quarter results “reflect early signs of recovery in the marketplace,” said Univision CEO Joe Uva. “Our results underscore the success of our strategy to focus on multiple revenue streams, including retransmission consent and traditional advertising as well as new areas such as e- commerce.”
Univision was not immune to the overall downturn in ad sales, but it weathered it far better than its English-language counterparts, according to new Univision networks prexy Cesar Conde.
New re-transmission agreements completed early this year with more than 140 cable-satellite carriers will generate $175 million in incremental revenue, which doubles in three to five years, according to chief financial officer Andrew Hobson.
Univision ranks fifth among the U.S. broadcasters in adults 18-49, but occasionally beats one of the Big Four among the 18-34 set. During the 2008-09 broadcast season, Univision increased its auds by 4% in primetime and 5% in total dayparts among all demos, compared with the previous season.