TelevisaUnivision's Q3 2025: ViX Soars Amidst Ad Challenges and a Fiery YouTube TV Clash

This quarter, Spanish-language media giant Televisaunivision saw its streaming service, ViX, light up the charts, but traditional advertising faced headwinds, all while a big fight with YouTube TV heated up.

TL;DR: Here's the Quick Scoop!

• ViX is a certified success story, driving profit and growth, proving streaming's power for Spanish-language content and becoming a key engine for TelevisaUnivision.
• Overall company revenue saw a slight dip, mainly because U.S. advertising on traditional TV slowed down, but strategic cost-cutting helped boost adjusted profitability.
• The company is in a heated carriage battle with YouTube TV, which has pulled core Univision channels, sparking serious concerns over Hispanic community access to vital news and entertainment.

Navigating a Shifting Media Landscape: The TelevisaUnivision Story

In the fast-paced world of media, companies are constantly reinventing themselves to keep up with how we watch, listen, and get our news. Spanish-language media powerhouse TelevisaUnivision is right in the thick of it, and their third-quarter results for 2025, announced on October 23rd, tell a compelling story of adapting to change. It's a mixed bag of big wins in the digital realm and some persistent struggles in the more traditional spaces.

For us, the viewers and fans of amazing content, understanding these financial shifts can shed light on where our favorite shows, movies, and news are headed. So, let's break down what's happening behind the scenes at TelevisaUnivision and what it means for the future of Spanish-language entertainment.

The Big Picture: Crunching TelevisaUnivision's Q3 Numbers

Let’s get into the nitty-gritty of the financials. TelevisaUnivision reported a total revenue of $1.27 billion for the third quarter of 2025. That's about a 3% dip compared to the same period last year. If you take out the often-unpredictable bump from political advertising, the revenue decline was a milder 1%, which is still a decline, but less dramatic.

When it comes to profit, the numbers need a bit of context. The company’s net income fell to $90.5 million, compared to a healthier $180.9 million in Q3 2024. But don't let that steep drop scare you too much! Last year’s numbers got a big boost from a one-time gain from selling off some non-core broadcast towers, and this year saw a $31.7 million debt refinancing charge. When you look at "Adjusted OIBDA" (that’s Adjusted Operating Income Before Depreciation and Amortization – basically a measure of operational profitability), things look much brighter. This figure actually jumped 9% to $467 million, up from $427.1 million last year.

What does this mean for us? It signals that TelevisaUnivision is becoming more efficient in its core operations, even if overall revenue is feeling some pressure. CEO Daniel Alegre highlighted that these results show "disciplined execution of our reimagined content strategy and the continued momentum" of their key growth engines. It’s all about trimming the fat and focusing on what works best.

ViX: The Undeniable Streaming Superstar Lighting Up the Screen

If there's one shining star in TelevisaUnivision's latest report, it's definitely ViX. This Spanish-language streaming service isn't just growing; it's driving serious profit for the company. In fact, TelevisaUnivision proudly announced its first streaming profit in the third quarter of 2024, and ViX has been carrying that momentum forward ever since. Industry analysts like Ampere Analysis are even forecasting ViX to be the fastest-growing subscription streaming service in the Americas in 2025!

ViX plays a crucial role for the company, helping to offset some of the declines they're seeing in traditional linear TV advertising. It boasts a huge library of owned Spanish-language content, ranging from news and sports to the entertainment that gets us hooked, including a wealth of movies and TV shows. With approximately 10 million global subscribers, ViX is cementing its place as the largest Spanish-language streaming platform in the world.

However, it’s not without its challenges. While ViX is a huge success within the Spanish-language media sphere, broader studies show that Hispanic audiences also flock to mainstream platforms like YouTube (19.1%), Netflix (13%), and Disney+ (5.4%), according to Nielsen. This means ViX still has work to do to capture a larger share of advertiser interest, despite its cultural relevance and leadership position. But for viewers, it means a growing, dedicated platform for content made for and by Spanish speakers.

Ad Troubles in the U.S., But Mexico's Market Tells a Different Story

While streaming is booming, traditional advertising revenue on U.S. linear television hit a bit of a snag for TelevisaUnivision. U.S. advertising revenue dipped to $428.2 million, an 11% drop year-over-year (or 8% if you exclude political ads). The company points to "softness in linear" as the main culprit – a trend we're seeing across the industry as more viewers shift to streaming platforms. This means fewer eyes on traditional commercials, and advertisers follow the audience.

But head south of the border, and the picture in Mexico is brighter. Advertising revenue there actually climbed 3% to $327 million, largely thanks to growth in direct-to-consumer (DTC) platforms, including ViX. This regional difference highlights how diverse the media consumption habits can be, even within a company's own footprint.

On the flip side, subscription and licensing revenue across the company saw a healthy 3% increase to $493 million. The U.S. market was a standout, with an impressive 11% gain in this category, again largely driven by ViX's premium tier and strong content licensing. In Mexico, subscription and licensing revenue technically declined by 17%, but this was primarily due to a specific renewal cycle with a key distribution partner. Without that particular impact, Mexico's subscription revenue would have actually grown by 5%. So, it's not all doom and gloom for linear, but the future clearly leans heavily into digital and subscription models.

The YouTube TV Showdown: More Than Just Business, It's About Access

One of the biggest headlines surrounding TelevisaUnivision this quarter, though its financial impact will be felt in Q4, is their heated carriage dispute with YouTube TV. Starting at the end of September, YouTube TV pulled the core Univision broadcast network from its base tier, eventually moving it to a Spanish-language add-on tier. For millions of subscribers, this meant a sudden loss of access to channels they relied on.

TelevisaUnivision CEO Daniel Alegre isn't mincing words about the situation. He fiercely rejected YouTube TV's claim that there isn't enough viewership of their content to justify their carriage price. Alegre stated, "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 emphasizes that this isn't just a business disagreement; it's about crucial access.

"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

This dispute has garnered significant attention, even reaching political circles. Alegre mentioned that Senators, Congressmen, SEC Chairman Brendan Carr, and various Hispanic groups are advocating on behalf of Univision. Even former President Donald Trump weighed in, with Alegre publicly thanking him on social media for a post stating, "Google, for the purpose of fairness, please let Univision back."

What's particularly interesting is how Univision's viewership has held up, despite being removed from one of the market’s biggest streaming TV alternatives. Data for the week of October 12-19 shows Univision attracting 1.05 million viewers, making it the eighth most-watched network among all broadcast and cable outlets, and the top Spanish-language network, beating Telemundo by over 220,000 viewers. This strong performance, post-YouTube TV pull, seems to directly contradict YouTube TV's claims about low viewership, underscoring the importance of these channels to their audience.

While YouTube TV managed to strike a deal with Comcast's NBCUniversal to keep rival Spanish broadcaster Telemundo, along with other channels, the stalemate with TelevisaUnivision continues. For millions of viewers, this means a frustrating disruption to their entertainment and information access, and the situation remains unresolved.

Inside Grupo Televisa's Mexican Operations: Highs and Lows and Strategic Plays

Beyond the direct TelevisaUnivision results, the context of Grupo Televisa's operations in Mexico provides another layer to the story. Grupo Televisa, which is a major part of the overall TelevisaUnivision entity, showcased some interesting trends in its third quarter. They're making strides in certain areas, particularly with their cable and internet services.

The company's strategic focus on value customers in its cable segment paid off, with a noticeable growth in its Internet subscriber base during the first nine months of 2025. Plus, operational efficiencies, especially from the integration of Izzi and Sky, led to a 100-basis-point expansion in the operating segment income margin to 38.2%. They also impressively cut operating expenses by 7% year-over-year.

Financially, Grupo Televisa generated approximately MXN 4.2 billion in free cash flow, which they smartly used to prepay a bank loan due in 2026, strengthening their balance sheet by reducing their leverage ratio from 2.5x to 2.1x EBITDA. Even their mobile segment saw positive momentum, adding 94,000 net mobile subscribers in Q3, thanks to better MVNO (mobile virtual network operator) service offerings. And their Enterprise operations revenue hit MXN 1.1 billion, a strong 7.7% increase year-over-year, marking their best quarter for revenue growth in three years.

However, it wasn't all good news. Grupo Televisa faced a significant challenge with its Sky service, losing 329,000 revenue-generating units, mostly from prepaid subscribers. This resulted in an 18.2% year-over-year revenue decline for Sky. The company also lost 43,000 video subscribers in the third quarter, although this was an improvement compared to previous quarters, showing a persistent hurdle in maintaining traditional video subscriber numbers. Still, their strategic multiyear deal with Formula 1 shows their commitment to leveraging popular content and partnerships.

Looking to the Future: The Growing Power of Political Advertising

Looking ahead, TelevisaUnivision sees a "tremendous opportunity" in the U.S. political advertising spend anticipated for the 2026 mid-term elections. CEO Daniel Alegre acknowledged that in the last election cycle, the company missed out by primarily relying on ad agencies to bring in business. As he put it, "By the time the agencies are involved, the committed spend has already been allocated pretty substantially."

To fix this, TelevisaUnivision has rebuilt its ad sales team to engage directly and strategically with political campaigns. This proactive approach aims to capture a larger slice of the pie, especially considering the strategic importance of the Hispanic vote, which Alegre insists is "up for grabs." This focus on direct engagement underscores a smarter, more targeted approach to a potentially lucrative revenue stream, particularly given the network's unparalleled reach within the Hispanic community.

A Dynamic Path Ahead for Spanish-Language Media and Entertainment

TelevisaUnivision's third-quarter 2025 results paint a dynamic picture of a media giant adapting to changing consumer habits and market pressures. While traditional linear advertising in the U.S. continues to soften, the meteoric rise of ViX as a profitable streaming engine proves that the future of Spanish-language content is vibrant and digital-first. This is fantastic news for anyone looking for diverse, high-quality Spanish-language movies, series, news, and sports.

The ongoing YouTube TV dispute highlights the critical role TelevisaUnivision plays for millions of Hispanic viewers, not just for entertainment but for essential information. As the company continues to streamline operations and aggressively pursue new advertising strategies, particularly in the political arena, its evolution promises to keep things interesting. One thing is clear: TelevisaUnivision remains a powerful and essential voice, shaping cultural and commercial impact for Hispanic audiences across the globe.

FAQs: Your Burning Questions Answered

What is ViX and what content does it offer? ViX is TelevisaUnivision's Spanish-language streaming service, offering a vast library of original content, movies, TV shows, live sports, and news. It's available in both ad-supported (free) and premium (subscription) tiers, and is considered the largest Spanish-language streaming platform globally.

Can I still watch Univision on YouTube TV? As of the end of September, core Univision broadcast network channels were pulled from YouTube TV's base tier and moved to a Spanish-language add-on tier, then entirely removed from the service due to an ongoing carriage dispute. There is currently no resolution, so you cannot access core Univision channels on YouTube TV at this time.

Why did TelevisaUnivision's Q3 profits drop compared to last year? TelevisaUnivision's reported net income decreased mainly because Q3 2024 included a one-time gain from selling non-core broadcast towers, which boosted that year's profit. Additionally, Q3 2025 had a debt refinancing charge. However, the company's "Adjusted OIBDA," which reflects core operational profitability, actually increased by 9%, showing improved efficiency.

How is TelevisaUnivision tackling the decline in traditional TV ads? The company is focusing heavily on growing its streaming platform, ViX, which is successfully attracting advertisers and driving profit, helping to offset linear TV ad declines. They are also rebuilding their ad sales team to directly engage with political campaigns, aiming to capture more revenue from the upcoming 2026 mid-term elections.

Sources

• "TelevisaUnivision Announces Third Quarter 2025 Results" - TelevisaUnivision Investor Relations website (investors.televisaunivision.com)
• "TelevisaUnivision Sees Q3 Profit Dip Due in Part to Advertising Shortfall" - Variety - TV News (Brian Steinberg, Oct 23, 2025)
• "TelevisaUnivision reports rocky third quarter as advertisers turn to its streaming competitors" - EMARKETER (Marisa Jones, Oct 23, 2025)
• "Televisa-Univision revenue slips 3 percent during Q3" - The Desk (Matthew Keys, Oct 23, 2025)
• "A Double-Digit Ad Revenue Slide For TelevisaUnivision" - RBR-TVBR (Oct 24, 2025)
• "Grupo Televisa Earnings Call: Growth Amid Challenges" - TipRanks Auto-Generated Newsdesk (Oct 23, 2025)
• "Mexican broadcaster Televisa swings to 1.9 bln peso loss in Q3" - Reuters (Oct 23, 2025)
• "Daniel AlegreTelevisaUnivision" - The Hollywood Reporter (Georg Szalai, Etan Vlessing, Oct 23, 2025)