Mexico's Televisa invests US$76mn in cable business in 2Q24

Mexican company Televisa invested US$76mn in its cable business during 2Q24 of a total of US$102mn spent on property, plant and equipment, as the firm slashed its capex by half compared with 2Q23.

The firm added 71,000 homes to its fiber to the home (FTTH) network during the quarter, reaching 19.8 million homes passed at end-June. 

Televisa added 10,700 broadband subscribers in April-June for a total of 5.7mn, but its base of revenue-generating units (RGUs) base shrank 5% following a clean-up carried out in 2023 and the cancellation of its “Afizzionados” video package, which contributed to the 65,600 net video disconnections in the quarter. 

“These results reflect our focus on value customers and churn reduction,” the company said in its financial report.

Televisa ended June with 3.9mn video subscribers, 5.6mn in broadband and 5.3mn for voice services, along with over 327,000 mobile subscribers. 

Cable revenues in the quarter were 11.9 billion Mexican pesos (US$649mn), sliding 3.1% compared year-on-year. 

SKY

Sky, Televisa's recently acquired broadband satellite company, ended June with 5.6mn RGUs, with 262,000 net disconnections. Revenue declined by 13.3% driven by the decrease in the RGU base.  

In April, Grupo Televisa announced that it reached an agreement with AT&T to acquire the latter’s share in satellite TV provider Sky México, increasing its interest to 100% from 58.7%.

The company ended June with 5.1mn video subscribers and 438,600 broadband subscribers.

Revenues totaled 3.86bn pesos, dropping 13.3% from 2Q24.