Net revenues gained 6.2% to $481.8 million in Q1 for Univision Communications. It was a split result, with TV revenues up and radio down.
“Our first quarter results were strong, driven by the continuing outperformance of our television properties, including our flagship network which rose to #4 in the country beating NBC among Adults18-34 in primetime for the entire quarter. We believe Univision is on the verge of a groundswell of greater allocation of ad spend due in part to the US Hispanic population growth – documented by the Census as 43% over the last ten years – and our expanded access to Televisa programming that we can now leverage through traditional cable channels, as well as digital and new media platforms, including major over-the-top distributors. As we approach this year’s Upfront, we are confident that these powerful trends, coupled with key category growth and favorable pricing dynamics, will make the 2011 selling cycle a success for Univision,” said COO Randy Falco.
Television revenues rose 7.1% in Q1 to $407.1 million. Operating income before depreciation and amortization (OIBDA) grew 5.6% to $166 million, excluding a $15 million settlement recorded in Q1 of 2010.
Radio, however, saw revenues decline 2.3% to $62.8 million. OIBDA dropped 38.6% to $6.2 million.
With total revenues up 6.2% to $481.8 million, OIBDA (excluding that $15M settlement) gained 2.2% to $169 million for the quarter.
Univision Communications proudly noted that its flagship TV network, Univision, ranked #4 in Adults 18-34 in primetime, according to The Nielsen Company, in Q1, beating NBC.