TelevisaUnivision Drops Vix+ Brand But Keeps Dual-Tier Streaming Setup Under Vix Banner As Q1 Results Reflect Advertising Slowdown
deadline.comTelevisaUnivision, which rolled out a two-tiered streaming offering under the Vix and Vix+ brands in 2022, is unifying them under the Vix banner.
The ditching of the “plus,” a ubiquitous symbol in streaming, is not accompanied by a change in strategy in terms of providing both a free, ad-supported tier and a paid, premium one.
The Spanish-language media giant made the announcement as it reported soft results for the first quarter due to a slowdown in advertising hitting companies across the media and tech sectors over the past few months.
Revenue inched up 6% to $1.1 billion, though U.S. advertising grew just 2%. Reporting on a pro forma basis (given comparisons with the year-ago period, when the merger of Univision and Televisa formally closed), the company said operating income before depreciation and amortization fell 10% from the 2022 quarter to $361 million.
Read more on deadline.com