Overview of Positive Results in First Nine Months of 2025
Grupo Televisa and TelevisaUnivision have reported positive results for the first nine months of 2025, driven by operational efficiencies, improved profitability, and a stronger financial position.
Key Strategies and Achievements
- Focus on High-Value Customers: The company successfully increased its internet subscriber base by 4% during the first nine months of the year, thanks to a strategy centered around high-value customers.
- Operational Efficiencies: Grupo Televisa has continued to implement operational efficiencies resulting from the integration of izzi and Sky, reducing costs and expenses by 7% compared to the same period in 2024. This led to an expanded operating margin of 38.2%, up from 37.2% in the previous year.
- Financial Discipline: The company maintained financial discipline in capital investment (capex), prioritizing free cash flow generation with a 17.3% variation in the period.
Strong Financial Performance
The operating cash flow was $4.2 billion in the first nine months of 2025, enabling Grupo Televisa to prepay a $200 million bond due in 2025 and refinance a bank credit expiring in 2026 worth $2.7 billion.
These actions strengthened leverage metrics, reducing net debt to EBITDA ratio to 2.1x in September 2025 from 2.5x at the end of 2024.
TelevisaUnivision’s Success
In the international segment, TelevisaUnivision maintained a solid performance on ViX, surpassing 10 million paying users and experiencing sustained growth in subscription and advertising services. Advertising now accounts for 20% of the segment’s revenue.
- Operational Efficiency Plan: The efficiency plan generated approximately $300 million in savings so far this year, demonstrating the company’s ability to optimize costs and improve profitability.
- Financial Results: Adjusted EBITDA reached $1.2 billion, representing an 8% growth compared to the same period in 2024, with a profitability of 34.5%, an increase of +440 basis points year-over-year.
- Improved Leverage: The debt-to-EBITDA ratio improved to 5.5x in September 2025 from 5.9x at the end of 2024.
- Debt Refinancing: The company refinanced $2.7 billion in debt during the year, covering maturities until 2027.
Future Opportunities
These results could be further enhanced in 2026, as Grupo Televisa holds the broadcasting rights for the 2026 World Cup, Formula 1 until 2028, and various Olympic Games until 2032.
Key Questions and Answers
- What drove the positive results for Grupo Televisa and TelevisaUnivision? The results were driven by operational efficiencies, improved profitability, and a stronger financial position.
- How did Grupo Televisa increase its internet subscriber base? The company successfully increased its internet subscriber base by 4% during the first nine months of the year, thanks to a strategy centered around high-value customers.
- What operational efficiencies were implemented? Grupo Televisa implemented operational efficiencies resulting from the integration of izzi and Sky, reducing costs and expenses by 7% compared to the same period in 2024.
- How did TelevisaUnivision perform in the international segment? TelevisaUnivision maintained a solid performance on ViX, surpassing 10 million paying users and experiencing sustained growth in subscription and advertising services.
- What are the future opportunities for Grupo Televisa? These opportunities include broadcasting rights for the 2026 World Cup, Formula 1 until 2028, and various Olympic Games until 2032.
