Televisa Second Quarter: $28M Loss as Sky Bleeds, ViX Grows

Markets

A blockbuster World Cup could not fix Televisa’s core problem. In its Televisa second quarter, streaming kept growing while the company’s satellite-TV business kept bleeding subscribers and cash.

Grupo Televisa is one of Latin America’s biggest media companies, spanning cable, satellite TV, and a stake in the Spanish-language giant TelevisaUnivision, which runs the ViX streaming platform.

Its latest quarter captures a business caught between a shrinking old model and a growing new one.

Inside the Televisa Second Quarter

Revenue slipped about 3% to roughly MXN 14.3 billion (US$772 million), even with a boost from mobile, broadband and voice subscribers.

The bottom line turned red: Televisa reported a net loss of about MXN 497 million (US$28 million), against a profit in the same period last year. EBITDA came in around MXN 5.83 billion (US$315 million).

ViX Keeps Climbing

The growth engine is streaming. ViX, the platform run by TelevisaUnivision, now accounts for more than 20% of that venture’s revenue and cash flow.

TelevisaUnivision generated about US$605 million in Mexico in the quarter, reaching 675 million viewers across linear television and ViX combined.

Sky Keeps Falling

Pulling the other way is Sky, the satellite-TV service, which continues to shed customers as viewers cut the cord. The disconnections weighed on both sales and profit.

It is the classic media squeeze: the legacy pay-TV business fades faster than streaming can fully replace it.

Why It Matters

For investors, the quarter is a bet that ViX’s rise eventually outweighs Sky’s decline and returns the group to profit.

For Mexico’s media landscape, it is more evidence that streaming is now the center of gravity, even for a company built on broadcast.

Frequently Asked Questions

How did Televisa perform in the second quarter of 2026?

Revenue fell about 3% to roughly MXN 14.3 billion (US$772 million), and the company swung to a net loss of about MXN 497 million (US$28 million). EBITDA was around MXN 5.83 billion (US$315 million).

Is ViX growing for Televisa?

Yes. ViX, the TelevisaUnivision streaming platform, now accounts for more than 20% of that venture’s revenue and EBITDA, and TelevisaUnivision generated about US$605 million in Mexico in the quarter.

Why did Televisa post a loss?

Its satellite-TV unit Sky keeps losing subscribers and money, and overall revenue slipped about 3%, pushing the group to a net loss despite growth in streaming and connectivity.

Sources

• El Financiero – Televisa gana suscriptores y alcanza ingresos por 14 mil 289 mdp en segundo trimestre
• Expansion – Televisa: ViX crece pero Sky sigue perdiendo clientes

Connected Coverage

• Mexico Markets: IPC & the Peso — July 24, 2026
• Mexico Markets: IPC & the Peso — July 23, 2026

Sources: Grupo Televisa.

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