The following is a summary of the Grupo Televisa, S.A.B. (TV) Q1 2024 Earnings Call Transcript:
Financial Performance:
Grupo Televisa's Q1 consolidated revenue was down by 4.8% YoY to MXN 16 billion.
Operating segment income of MXN 5.9 billion decreased by 12.5% mainly due to lower revenues and inflation.
Net revenue from residential cable operations experienced a slight decrease while enterprise operations showed a small increase.
The cable segment experienced a decrease in net revenue and operating income by 1.8% and 8.7% respectively.
Sky's revenue and income saw significant drops, whereas Televisa Univision's revenue grew by 7.3%, albeit with EBITDA down due to streaming investments.
Business Progress:
Ollamani was successfully spin-off, and an agreement was reached with AT&T to acquire its minority stake in Sky Mexico.
Plans are in place to merge Sky with cable operations to solidify the company's competitive and financial position.
The company aims to make Grupo Televisa the largest shareholder in Televisa Univision, by successfully acquiring AT&T's stake in Sky Mexico.
Progress is made in improving ARPU and client retention through shorter promotions.
The company is optimistic about improving sales activity and expects to finalize synergies by the end or beginning of next year. It also plans to launch new products and services by year-end.
More details: Grupo Televisa IR
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