(Provides quotes from firm report, extra data)
MEXICO CITY, Feb 23 (Reuters) – Grupo Televisa , Mexico’s largest broadcaster, reported on Thursday a internet loss within the fourth quarter of 13.75 billion pesos ($705 million), damage by losses associated to TelevisaUnivison and declines in its satellite tv for pc TV unit.
The end result compares with a internet revenue of three.7 billion pesos within the year-earlier interval, in keeping with an announcement filed with the Mexican inventory change.
The corporate’s income elevated 1.6% from the year-earlier interval to 19.13 billion pesos, barely lacking the Refinitiv forecast of 19.28 billion pesos.
TelevisaUnivision, a agency that mixes content material with U.S. broadcaster Univision, has rolled out a subscription-based model of streaming platform, ViX+, which can compete with established rivals like Netflix Inc and Amazon.com Inc’s Prime Video.
Televisa mentioned in its assertion that it noticed losses partially associated to depreciation within the worth of the TelevisaUnivision enterprise acknowledged within the quarter.
Sky, Televisa’s satellite tv for pc TV unit, had about 410,400 disconnections of income producing models (RGUs), and gross sales within the quarter decreased by 8.1% which the corporate mentioned was defined by “the year-on-year decline in RGUs and decrease recharges at Sky’s pay as you go packages.”
Televisa has tried to revamp Sky, launching a brand new cell service with AT&T in July which executives mentioned would increase the unit’s income within the coming years.
The agency’s cable unit added about 327,200 RGUs within the quarter and 78,3000 broadband internet additions. Gross sales elevated by 1.4%.
Shares of Televisa closed barely greater with a acquire of 1.15% on Thursday earlier than the corporate launched its report.
Mexico’s Megacable in December rejected a proposal by Televisa to merge the businesses’ pay TV and broadband operations. Shares of each firms had surged after the supply was initially reported, with buying and selling finally suspended by regulators. (Reporting by Cassandra Garrison, Carolina Pulice and Noe Torres; Enhancing by Brendan O’Boyle, Bradley Perrett and David Gregorio)
