Televisa expects ad revenue to grow by double digits in 2021

Televisa Group It expects its advertising revenue to maintain double-digit growth, albeit low, through all of 2021, a company executive said during a call with investors.

Televisa reported the day before that its total revenue was up 10.5% compared to the April-June 2020 period, while its profit was up 25.4%.

The company’s net sales for the second quarter of 2021 24753.2 million pesos10.5% compared to the same period in 2020.

“We are confident that advertising revenue will grow to low double digits over the course of the year,” Alfonso de Angoetia, co-director of Televisa, said during a call with investors.

The director added that better prospects for economic growth in Mexico and increased consumption by private advertisers would be key factors to achieving its revenue targets.

Televisa also stated that it is already producing content for the launch of a new streaming service next year, as part of an agreement with Univision, the major Spanish-language broadcaster in the United States.

The two companies announced in April that they would merge content by creating a new Spanish-language media company called Televisa-Univision, which would launch a global streaming platform to compete with rivals such as Netflix and Disney Plus.

Grupo Televisa shares earlier traded as high as 59.83 pesos, their best level since November 2018, to later run with losses of up to 7%. On the eve, the company’s shares rose 3.63 percent.

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