Televisa announced its financial results for the second quarter of 2017 in which it reported net sales for MX$ 23.2 billion (USD 1,3 billion), 1.5% less compared to previous year. Net income attributable to stockholders increased 2.6% to MX$ 1.4 billion (81.4 million).
According to the company, drop in net sales is was attributable to revenue decline in the Content segment, which fell 8.2% to MX $ 8.1 billion (USD 452.4 million). In this same segment, advertising revenue decreased by 9.8% to Ps.4.8 billion (USD 270.4 million). “The drop in revenues is partially explained by the continued reduction in television advertising expenditures by certain clients, and the partial migration of budgets from two clients as a result of our decision not to cut prices”, said the media giant.
In addition, second-quarter Network Subscription Revenue decreased by 18.2% to MX& 941.1 million (USD 52.7 million). “The decrease is mainly explained by the loss of Megacable revenues starting September 2016”.
Sky’s sales increased by 1.1% to MX$ 5.6 billion (USD 316 million), while the Cable segment sales increased by 3.0% to MX$ 8.0 billion (USD 450.2 million).