Univision Communications reported higher profits as revenue increased.
Third-quarter net income for the Spanish-language media company rose 8.4% to $33.5 million, from $30.9 million a year ago. Net income had been $77.4 million in the third quarter of 2019, before the pandemic.
Revenue increased 20.3%, to $754 million.
Ad revenue was up 32.5%, to $42 million.
Also read: Univision Profits Rise as Cost Cuts Take Hold
“Our outstanding third-quarter results underscore the enormous opportunities that lie ahead for Univision,” said CEO Wade Davis. “The strength of our content and the connection with our audience are demonstrated by the fact that we continue to deliver the highest overall ratings growth in the industry.”
Revenue for Univision’s Media Networks segment was up 18.7% to $688.3 million. Ad revenue was up 31.7% to $378.8 million, driven by strong scatter volume and pricing, new brand activation and growth in low-volume accounts. Three major soccer tournaments and improvements in the retail travel and services sectors also helped, the company said.
Subscription and licensing revenue was $278 million, up from $267.6 million. Subscriber-fee revenue was $277.1 million, up 5.3%.
