Spanish-language media giant TelevisaUnivision said it posted a loss in the second quarter despite an increase in revenue from its rights to broadcast the World Cup in Mexico, a sign of the challenges continued to face the company, formed from the combination of Univision in the United States and Grupo Televisa in Mexico.

The company posted a loss of more than $10 million on revenue of nearly $1.33 billion. Revenue for the period soared 10%, compared to $1.21 billion in the same period a year earlier. TelevisaUnivision attributed much of the increase to advertising and licensing fees associated with its Mexican sports rights.

In fact, advertising for operations in Mexico increased 19%, driven largely by commercials tied to the FIFA World Cup television broadcasts, compared to lackluster results in the United States. where advertising revenue fell 22%. Overall advertising revenue fell 9% during the period. TelevisaUnivision replaced its head of advertising sales in April, a few days before holding its annual “upfront” presentation.

Subscription and licensing revenue increased 40% during the second quarter, to $621 million. Approximately $90 million in revenue came from the company’s sublicensing of the rights to the FIFA World Cup to media properties in other Spanish-speaking Latin American countries.

TelevisaUnivision has been working to shore up its balance sheet since Wade Davis, the former Viacom CFO who orchestrated the Univision purchase in 2020, gave up his CEO role to Daniel Alegre, a former top executive at Activision Blizzard. Since Alegre joined in 2024, TelevisaUnivision has worked to streamline operations that had previously been isolated by geographic region.

In a statement, Alegre gave credit to the power of the football spectacle. “The tournament reinforced why
Soccer is the cornerstone of our strategy and the reason why we are the ‘Home of Soccer’ for Hispanics. “Sports, along with our continued investments in live events and premium entertainment, ensure we remain the destination for culturally relevant moments that matter,” the executive said. “Combined with our unique connection to our audience and the importance of our platforms ahead of the US election cycle, this momentum positions us well to drive sustained profitability while creating even greater value for our audiences, advertisers and partners.”

Operating expenses increased 16% to $940 million, driven primarily by sporting costs associated with the FIFA World Cup. Operating income was $224 million, a decrease of $17 million from the prior year, which the company attributed to higher direct operating expenses.