Could Promotion-Relegation work in College Football?
Univision Communications released second-quarter earnings on Thursday, recording $700.2 in overall revenue — up 32% year-over-year. Advertising revenue jumped by 72%.
Net income reached $36.6 million, a significant increase from the net loss of $27.3 million during the same period last year.
The strong numbers come as Univision plans for large-scale expansion.
- In April, the company announced plans to merge with Televisa in a $4.8 billion deal, creating the largest Spanish-language media company in the world. The merger is expected to close in the fourth quarter, pending regulatory approval.
- In June, it unveiled plans for a streaming service in 2022, complete with expanded sports offerings. It already owns 61 television stations and 58 radio stations in the U.S. and Puerto Rico.
Univision’s sports division merged with Televisa’s in 2019. In addition to partnerships with NFL and MLB teams and a five-year deal with Combate Global, the network covers the Mexican League, Copa MX, Liga MX, and in March acquired rights to the 2021 Copa America and 2022 Women’s Copa America.
Univision attributed “two major soccer tournaments” for part of the reason its media networks segment saw revenue increase 27% to $640.3 million during the quarter.
Operating expenses increased 125% to $144.4 million “primarily due to the return of live soccer matches.”
