Univision Posts Q2 Loss
Univision Communications reported a loss in the second quarter as revenue fell compared with last year, when its networks covered soccer’s World Cup.
The company lost $23.9 million in the quarter, compared with net income of $98 million a year ago.
Revenue fell to $696.3 million from $833 million a year ago. The company said the World Cup generated $115.5 million in incremental revenue a year ago. Excluding the World Cup, revenue decreased 1.7%.
“During the 2015 second quarter, we continued to execute on our strategy to deliver a Univision branded experience and target bilingual and millennial audiences with tailored ‘must-see’ content across platforms, which included signing a deal with Netflix to stream top Univision and UniMás content,” said CEO Randy Falco.
Read more at broadcastingcable.com.
The smarter way to stay on top of the multichannel video marketplace. Sign up below.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.