Spanish-language media giant TelevisaUnivision reported a 2 percent U.S. revenue gain to $816 million in the second quarter of 2025 as a 2 percent advertising revenue drop was outweighed by a 9 percent gain in subscription and licensing revenue. Its earnings report came after the firm had last week warned of U.S. advertising “softness” and foreign exchange impacts, saying they had hit its latest quarterly results.

The U.S. ad drop reflected “a sequential improvement versus the first quarter as growth in ViX and linear ratings stabilized driven by the strong performance of our sports content,” the company said.

TelevisaUnivision, led by CEO Daniel Alegre, on Tuesday also gave an update on its streaming business, which had “achieved profitability after just two full years in the marketplace” last year. He pointed to ViX growing year-over-year to global subscribers now exceeding 10 million on double-digit growth. “We saw continued momentum in streaming as ViX continues to expand its reach across both free and premium tiers,” Alegre told Wall Street analysts in prepared remarks during a morning conference call.

TelevisaUnivision had previously reported that it had ended 2023 with 7 million subscribers. The company has the Univision network, while also building up the ViX streaming platform to chase younger consumers. The ViX service has also added a new ad-supported premium tier.

TelevisaUnivision’s total revenue in the second quarter dropped 4 percent to $1.21 billion, as Mexican advertising revenue dropped 11 percent, for a total company ad decline of 5 percent. Total subscription and licensing revenue came in steady as the U.S. gain was outweighed by a 23 percent decrease in Mexico. That included growth in “ViX’s premium tiers in both geographies, offsetting linear platform declines primarily related to the renewal cycle with a key distribution partner in Mexico.”

On July 14, the Spanish-language media giant warned second quarter overall revenues would fall year-on-year due to U.S. advertising “softness” and foreign exchange impacts. Into the third quarter, Alegre told analysts advertising sales “were in line with expectations,” on the strength of new series launches. That’s a change from the business climate in early 2025.

“To be completely frank, there was nervousness in the beginning of the year with everything that was going on in terms of tariff issues that were rising, as well as general nervousness about the economy in the United States,” the TelevisaUnivision boss added. But more recently, Alegre said the advertising market had stabilized, as “there’s strong advertiser demand for the content that we’re building, both on our linear business and on our digital business.”

During the call, Alegre also talked up TV sports offerings, including Univision’s recent coverage of the CONCACAF Gold Cup tournament, where Mexico beat Team U.S.A. in the final championship game. He also pointed to TelevisaUnivision’s audiences turning to the Spanish-language company for the latest news on an expanding anti-immigration crackdown in the U.S., including workplace raids, and its impact on communities south of the border.

“Audiences turned to us for reliable, timely information, particularly around immigration, as our coverage continues to meet a vital need in the communities that we serve in Mexico,” Alegre reported.

Operating expenses dropped 9 percent to $812 million, weighing on the bottom line. TelevisaUnivision posted quarterly adjusted operating income before depreciation and amortization (OIBDA), a key profitability metric, of $398 million, up 10 percent, driven by, as the company said, “focused execution and continued growth in DTC.”

Alegre also discussed recent cost-cutting at the company, which included halting production of content for ViX that would not play on linear TV in the U.S. or Mexico. “Our new strategy is that we will not green light any content unless we can actually show it on at least two platforms. That could be linear Mexico, linear U.S., it could be linear Mexico and ViX or linear U.S. and ViX — but ideally it plays across all three platforms,” he said.