Spanish-language big TelevisaUnivision stated it narrowed its fourth quarter loss from the year-earlier interval as will increase in advert income in Mexico helped buoy the corporate regardless of a downturn in the identical class within the U.S. and its continued funding in streaming.

The corporate, which operates the Univision broadcast community within the U.S., stated income within the quarter was off 7%, as good points in promoting had been offset be declines in revenues from subscription and licensing. Income got here to almost $1.36 billion within the quarter, in contrast with practically $1.46 billion within the year-earlier quarter.

The corporate’s web loss narrowed to $918.8 million from practically $1.57 billion.

TelevisaUnivision stated its streaming outlet, ViX, ended the 12 months with greater than 7 million subscribers, and indicated its streaming enterprise had generated greater than $700 million in income in 2023. A brand new distribution settlement with the massive cable operator Constitution will embrace an ad-supported model of ViX and Constitution will distribute the corporate’s linear channels as a part of a brand new streaming package deal that features Spanish content material.

The corporate’s CEO stated the worth of Spanish-speaking shoppers would propel efficiency in 2024. “The U.S. is already probably the most useful Spanish talking market on the planet by GDP and this 12 months Mexico surpassed Spain because the second largest market, with these two markets alone representing $4.7 trillion of GDP,” stated TelevisaUnivision CEO Wade Davis, in a press release. “That is the backdrop for a fair stronger 2024 through which we’re poised to seize a large U.S. political alternative and have sustained DTC profitability on the horizon.”