MIAMI — With the FCC presently seeking comment on whether or not to grant a transfer of majority control in Univision Communications to private investment firm SearchLight Capital Partners and ForgeLight, an operating and investment company focused on media and consumer technology, the Miami-based Hispanic media entity released its Q1 2020 results.
How did Univision do?
The privately held company, which unsuccessfully attempted an initial public offering, saw its revenue jump by 8%, to $660.4 million.
Adjusted OIBDA, a popular non-GAAP accounting measure, rose by 23%, to $251.1 million.
But, the COVID-19 crisis led Univision to take a $75.1 million impairment loss, resulting in a net income decline to $11.7 million from $24.3 million.
Univision’s video-focused media networks are the revenue driver for the company, and division revenue increased 9% to $609.3 million.
Political dollars accounted for $20.9 million of that total.
Oh, and there’s that “subscriber fee revenue,” which increased by 19%, to $282.5 million in Q1 2020 from $238.2 million.
Revenue for the Uforia-branded radio segment headed by Jesus Lara (pictured) was $51.1 million, compared to $51.3 million in Q1 2019.
Advertising revenue for the Radio segment for the first quarter 2020 remained flat at $48.8 million in both periods. Core advertising revenue decreased 7% to $43.9 million from $47.0 million primarily due to declines in ad spending in the retail sector. Political and advocacy revenue was $4.9 million, rising from $1.8 million in Q1 2019.
— Adam R Jacobson