TelevisaUnivision Q3 2025: ViX Shines Bright Despite Ad Headwinds & YouTube TV Drama

Televisaunivision just dropped its Q3 2025 Earnings report, and while the numbers show some real challenges, their streaming service ViX is absolutely crushing it, even as the company battles YouTube TV.

TL;DR: The Quick Scoop on TelevisaUnivision's Q3 2025

• YouTube TV Drama Continues: The carriage dispute is still ongoing, with Univision channels off YouTube TV's base tier, but Univision's linear ratings remain strong.
• Streaming Sensation ViX: ViX is a major growth engine, boosting subscription revenue and turning a profit for TelevisaUnivision, proving its "reimagined content strategy" is paying off.
• Linear Ad Slump: U.S. advertising revenue took a hit, offsetting some of the streaming gains, though Mexico's ad market saw some growth.

Navigating the Current Media Landscape: An Overview of Q3 2025

Alright, film and TV fans, let's talk about one of the biggest players in Spanish-language media, TelevisaUnivision. They've just unveiled their third-quarter financial results for 2025, and it's a mixed bag of triumphs and tribulations. Think of it like a blockbuster movie with a gripping plot: you've got your rising star (ViX), your simmering conflict (YouTube TV), and a bit of a financial cliffhanger.

Overall, the company reported total revenue of around $1.3 billion for the quarter ending September 30, 2025. This was a slight dip, down 3% year-over-year, or a more stable 1% if you take out the often-volatile political advertising. Net income also saw a notable decrease, landing at $90.5 million compared to $180.9 million in the prior year. However, this largely reflects a one-time gain from a tower sale last year and some debt refinancing charges this quarter, so it’s not all doom and gloom on the profit front. In fact, adjusted operating income before depreciation and amortization (OIBDA) actually increased by a healthy 9% to $467 million, thanks to smart cost-cutting and — you guessed it — streaming success!

So, what's really driving these numbers? Let's dive in.

The Big Fight: Why Univision is Still Off YouTube TV's Main Channel Lineup

One of the biggest stories swirling around TelevisaUnivision right now isn't just about the money; it's about access. We're talking about the ongoing carriage dispute with Google's YouTube TV. Remember when Univision and UniMás suddenly weren't part of YouTube TV's standard package anymore, getting shunted to a Spanish-language add-on tier?

Well, that battle is still raging, and TelevisaUnivision CEO Daniel Alegre isn't holding back. He's made it clear that this isn't just a squabble over cash; it's about ensuring Hispanic communities have crucial access to information and entertainment. "When it comes to fires in LA or floods in Texas or hurricanes in Florida, or what’s happening right now with the government shutdown, Hispanics turn to us for information," Alegre stated, emphasizing the vital role Univision plays.

YouTube TV's stance? They claim there isn't enough viewership to justify TelevisaUnivision's asking price. Alegre swiftly countered this, telling analysts, "YouTube TV’s position that there isn’t enough viewing of our content is either an error in their algorithm or just factually incorrect." He's even rallied some big names to their cause, noting that "Senators, Congressmen, the SEC chairman (Brendan) Carr, Hispanic groups, and obviously President Trump" have voiced support for Univision's accessibility.

It's worth noting that this dispute is happening while YouTube TV did reach an agreement with NBCUniversal to keep Telemundo on its service. So, it really highlights a specific sticking point with TelevisaUnivision.

"When it comes to fires in LA or floods in Texas or hurricanes in Florida, or what’s happening right now with the government shutdown, Hispanics turn to us for information. And this really goes beyond a carriage dispute and is more about access for Hispanics to the content that they need, both entertainment and as informational."

— Daniel Alegre, CEO of TelevisaUnivision

Univision's Staying Power: Ratings Hold Strong Despite YouTube TV Pull

Here's the kicker, though: despite being dropped from YouTube TV's main tier, Univision's linear ratings are still looking good. Data for the week of October 12-19 showed Univision pulling in 1.05 million viewers, making it the eighth most-watched network among all broadcast and cable channels. It even beat out rival Telemundo by over 220,000 viewers, proving that a significant audience is actively seeking out its content.

This suggests that while the YouTube TV dispute is a headache for distribution and reach, the core appeal and importance of Univision's programming remain undeniable to its dedicated audience.

The Shifting Sands of Advertising: Linear vs. Streaming Ad Revenue Performance

Now, let's talk money, specifically advertising. The ad market is changing, and TelevisaUnivision is feeling it. In the U.S., advertising revenue dropped 11% to $428.2 million, or 8% if you exclude political ads. The culprit? "Softness in linear" TV, meaning traditional broadcast ads aren't bringing in the big bucks like they used to. This isn't unique to TelevisaUnivision; it's a trend across the industry as viewers shift to streaming.

However, it's not all grim. Mexico tells a slightly different story, with advertising revenue actually increasing by 3% to $327 million. This growth was mainly fueled by direct-to-consumer (DTC) platforms, including their recent streaming partnership with Disney in the region. So, while linear struggles in the U.S., the company's streaming efforts are starting to pick up the slack elsewhere.

ViX: The Undisputed Champion of TelevisaUnivision's Growth Strategy

If there's one area where TelevisaUnivision is truly thriving, it's streaming. Their platform, ViX, is proving to be a powerhouse. Subscription and licensing revenue across the company climbed 3% to $493 million, largely thanks to ViX's premium tier and increased content licensing. The U.S. alone saw an 11% jump in subscription and licensing revenue to $388 million, driven by ViX's success.

ViX isn't just growing; it's also making money. TelevisaUnivision reported its first streaming profit in Q3 2024, and that profitability has continued to grow, making it a "key growth engine" for the company. With around 10 million global subscribers, ViX is marketed as the largest Spanish-language streaming service in the world. Ampere Analysis even forecasts ViX to be the fastest-growing subscription streaming service in the Americas in 2025. That's a huge deal!

Looking ahead, there are even talks about integrating local news content into ViX. Alfonso de Angoitia Noriega, Co-CEO of Grupo Televisa (TelevisaUnivision's parent company), noted that "Local news is crucial for us, and we are exploring the possibility of including it in our streaming platform. The local content is very strong and popular, and we are considering how to best integrate it into ViX." This move could further strengthen ViX's appeal and establish it as an essential, comprehensive platform for Hispanic audiences.

A Deeper Dive into TelevisaUnivision's Financial Health and Operational Adjustments

Beyond the ad and streaming narratives, TelevisaUnivision has been busy behind the scenes streamlining operations. CEO Daniel Alegre, who took the helm last year, has been leading an efficiency plan that's paying off. The company managed to reduce operating expenses by 8% to $804.0 million in Q3 2025, contributing to adjusted operating income growth.

It's important to differentiate some numbers, as parent company Grupo Televisa SAB also reported results. Grupo Televisa saw its operating segment income margin expand by 100 basis points to 38.2% in the first nine months of the year, driven by a 7% year-on-year reduction in operating expenses. They also generated MXN 4.2 billion in free cash flow, which helped reduce their leverage ratio from 2.5x to 2.1x EBITDA. For TelevisaUnivision itself, the leverage ratio currently stands at 5.5x, reflecting the broader financial structure and debt refinancing efforts, including $2.3 billion refinanced this year.

Not everything is sunshine and roses, though. Grupo Televisa's Sky business faced challenges, losing 329,000 revenue-generating units (mostly prepaid subscribers), leading to an 18.2% decline in Sky revenue. The company also lost 43,000 video subscribers in Q3, though this was an improvement over previous quarters. On the flip side, their mobile segment added a healthy 94,000 net subscribers, and enterprise operations revenue saw a strong 7.7% increase.

Eye on the Future: Political Advertising & Strategic Partnerships

Looking ahead, TelevisaUnivision is already setting its sights on the 2026 mid-term elections. Daniel Alegre sees a "tremendous opportunity" in political advertising. He openly admitted that in the last election cycle, the company missed out by not directly engaging with campaigns, relying too much on ad agencies after the budget had largely been allocated. But they've fixed that now.

"We’ve rebuilt our ad sales team so that we can actually go directly and talk strategically with the political campaigns," Alegre shared. Given the significant influence of the Hispanic vote, he believes there are "a lot of tailwinds in our favor" for the upcoming elections. This proactive approach shows TelevisaUnivision isn't just reacting to market shifts but actively planning to capitalize on future opportunities.

With ViX gaining momentum, a solid strategy for political ad spending, and ongoing efforts to streamline operations, TelevisaUnivision is clearly repositioning itself. While the linear ad market remains tough and the YouTube TV dispute is a lingering issue, the company's focus on its streaming future and direct engagement with its audience seems to be charting a promising course forward.

Frequently Asked Questions About TelevisaUnivision's Q3 2025 Earnings When did TelevisaUnivision announce their Q3 2025 results? TelevisaUnivision announced their Q3 2025 financial results on Thursday, October 23, 2025. What is the current status of the YouTube TV and Univision dispute? The carriage dispute is ongoing. Univision's core broadcast network was moved from YouTube TV's base tier to a Spanish-language add-on tier, and no resolution has been reached yet. TelevisaUnivision CEO Daniel Alegre is actively advocating for its channels' inclusion. How is ViX performing for TelevisaUnivision? ViX, TelevisaUnivision's streaming service, is performing strongly. It's a key growth engine, driving subscription and licensing revenue, and continued to generate profitability in Q3 2025. It's expected to be the fastest-growing subscription streaming service in the Americas for 2025. Did TelevisaUnivision's overall revenue increase or decrease? TelevisaUnivision's total revenue for Q3 2025 was $1.3 billion, a 3% decrease year-over-year. However, when excluding political advertising, the decline was a more modest 1%, and adjusted operating income (OIBDA) actually increased by 9%. Sources

• The Hollywood Reporter
• Variety
• The Desk
• TelevisaUnivision Press Release
• GuruFocus News
• TipRanks Auto-Generated Newsdesk
• Insideradio.com
• Radio & Television Business Report