Univision reported higher fourth-quarter earnings and full year revenue growth.
Falco celebrated “strong financial results” with last year’s “revenue crossing the $3 billion threshold for the first time ever,” making the company “well positioned for continued growth in 2017.”
Univision stated it generated nearly $219 million in net income and reduced net debt by $400 million. Falco said Univision will use the spectrum proceeds to continue to pay down debt.
Total revenue for the fourth quarter ended December 31, 2016 increased 15% to $846.5 million compared to $735.9 million for the same period in 2015.
Total revenue for the full year ended December 31, 2016, increased 6.4% to $3,042.0 million compared to $2,858.4 million for the same period in 2015.
During the call, Falco also addressed the network’s programming strategy, pointing out to the strengthened relationship with Televisa and Isaac Lee’s new appointment, now overseeing content across Univision and Televisa.
Univision experienced a major setback in prime time ratings in 2016, with many of its Televisa telenovelas underperforming among adults 18-49 against Telemundo’s super series.
Falco emphasized the company’s commitment to invest in non-Televisa content. Starting in 2017, Univision will begin airing content in prime time from its W Studios partnership with Patricio Wills and launch the Story House-Netflix original “El Chapo” miniseries.