×

Univision Second Quarter Financials Down Amid Robust Upfront Sales

It was good news and bad news for leading Spanish-language media company Univision, which reported a further slide in earnings in its second quarter financial report. However, the company has seen its best upfront in four years, said CEO Vince Sadusky in an earnings call, noting a sales spike in the “mid-single digits” for its linear business and double-digit growth in its digital biz.

“However, there is still a large gap between Univision’s ratings delivery and its share of TV ad revenues,” said Sadusky, echoing a lament that has resounded through previous administrations at Univision.

Univision’s income from continuing operations for the second quarter of 2019 was $92.0 million compared to $121.3 million for the same prior period, a decrease of 24.7%.

According to the firm, its revenue for the second quarter this year fell 4.0% to $701.7 million compared to $730.9 million for the same prior period. Core revenue for its second quarter dipped 3.5% to $694.5 million compared to $719.5 million for the same prior time frame.

On the plus side, Univision ended its long-simmering carriage dispute with Dish Network and renewed deals with other major distributors. “With our Dish battle, we proved that you don’t have a Hispanic service if you don’t have Univision,” said Sadusky who noted that Dish had suffered subscriber losses as a result of pulling Univision from its programming.

However, rate increases from these renewed deals won’t take effect until 2020, Sadusky pointed out.

“Univision finished the 2018/19 broadcast season as the #1 US Hispanic network for the 27th consecutive time. In July sweeps, Univision and UniMas were the only broadcast networks to grow viewership from a year ago. In that period the Gold Cup final on Univision ranked as the #1 Men’s soccer match of 2019, and our youth-oriented music tentpole Premios Juventud achieved a 40% larger audience than the prior year and beat the Big-4 broadcast networks,” said Sadusky, who reiterated the company’s mandate to focus on its core business.

Univision is currently on the block as its current private equity owners — Madison Dearborn Partners, Providence Equity Partners, Saban Capital Group, TPG Capital and Thomas H. Lee Partners — seek to divest from their 2006 purchase. It has tapped Morgan Stanley, Moelis & Co. and LionTree to serve as financial advisers as its board of directors explores a sale and “other strategic options.”

Regarding Univision’s potential sale, Sadusky said: “This is the best growth opportunity at scale in America when it comes to media.” “Even if the timing may not be great for certain folks, this is the last opportunity for this asset to trade.”

More TV

  • American Son review

    TV News Roundup: Netflix Releases 'American Son' Trailer

    In today’s TV news roundup, Netflix released the trailer for “American Son” starring Kerry Washington and first looks at Dolly Parton’s new anthology series, “Heartstrings.” FIRST LOOKS Netflix has released the trailer for “American Son,” which premieres Nov. 1 on the streaming service. Directed by Tony award-winner Kenny Leon, the film is based on the [...]

  • BBC's Little Mix Talent Show to

    BBC's Little Mix Talent Show to Be Produced by Management Firm's New Shingle, ModestTV

    The BBC has confirmed its Little Mix talent show, which the pop band’s management firm, Modest!, will produce through a new banner, ModestTV. “Little Mix The Search” will be exec produced by Andrea Hamilton, who has partnered with the management outfit to launch the new operation. Her entertainment show credits include “The Voice” and “Strictly [...]

  • Monica Beletsky Apple TV Plus

    Apple Sets Overall Deal With Monica Beletsky

    Monica Beletsky is the latest of a small group of content creators to set an overall deal with Apple and their streaming platform, Apple TV Plus. Under the multi-year deal, Beletsky will develop and produce television series exclusively for the streamer. This is the first overall of Beletsky’s career. Her previous credits include “Fargo,” “Friday [...]

  • Saladin Patterson

    Saladin Patterson Inks Overall Deal at 20th Century Fox Television

    Saladin Patterson has signed an overall deal with 20th Century Fox Television. Under the multi-year deal, Patterson will develop, write and produce comedy series for network, cable and streaming platforms. He was previously under a development deal at the studio earlier in his career. Patterson is currently an executive producer on the upcoming FX series [...]

  • Lenny Abrahamson and 'The Favourite' Producer

    'Room' Director Lenny Abrahamson and 'The Favourite' Producer Ed Guiney Present Their BBC-Hulu Series 'Normal People' (EXCLUSIVE)

    At TV market Mipcom in Cannes this week the team behind BBC-Hulu series “Normal People” – led by Lenny Abrahamson, the Oscar nominated director of “Room” – presented the first footage from the show, and explained how they approached the adaptation of Sally Rooney’s novel. Variety had exclusive access to the presentation. Ed Guiney, one [...]

  • El Camino: A Breaking Bad Movie

    ‘El Camino: A Breaking Bad Movie’ Scores 6.5 Million Viewers Across First Weekend

    “El Camino: A Breaking Bad Movie,” which dropped on Netflix Oct. 11, drew around 6.5 million total viewers in its first three days on the streaming platform, according to Nielsen. The movie also reached just under 8.2 million unique TV viewers. “El Camino” unsurprisingly drew its biggest audience of the three days on day 1, [...]

More From Our Brands

Access exclusive content