Key Highlights
- Televisa stock jumped 9.32% to 10.09 pesos after J.P. Morgan’s upgrade.
- TelevisaUnivision (TU), where Televisa holds a 45% stake, is driving growth through content and streaming.
- ViX+ streaming service now contributes 20% of TU revenues, achieving profitability in just two years.
- TU’s net debt-to-EBITDA ratio improved from 6.1x to 5.5x, with further deleveraging expected.
- EPS forecast for 2025 raised from 2.22 to 2.81 pesos per share.
- Televisa shares have gained nearly 40% year-to-date in 2025.
- Analysts estimate TU alone could add 26% to 49% in value to Televisa’s stock.
TelevisaUnivision: The Key Growth Driver
Analysts highlighted the central role of TelevisaUnivision (TU), in which Televisa —headed by Alfonso de Angoitia as its CEO— holds a 45% stake. TU has become a powerhouse by combining traditional television, content production, and its fast-growing streaming platform ViX+.
Unlike some global media competitors, TU has already started generating positive cash flow while simultaneously reducing leverage. Over the past year, its net debt-to-EBITDA ratio improved from 6.1x to 5.5x, and further deleveraging is expected thanks to stronger cash generation and cost discipline.
ViX+ Achieves Profitability in Two Years
The streaming platform ViX+ is proving to be one of TelevisaUnivision’s most strategic assets. In just two years, ViX+ achieved positive EBITDA, a milestone that took longer for rivals like Paramount+ and Warner Bros. Discovery.
Today, ViX+ already accounts for 20% of TelevisaUnivision’s revenues, up from 14% a year ago. The platform’s growth is fueled by its appeal to the expanding U.S. Hispanic audience and strong advertising demand, which continues to outpace industry peers.
Analyst Projections Point to Further Upside
Beyond its U.S. assets, Televisa’s operations in Mexico—including cable, telecom, and Sky (despite weaker performance in the latter)—provide additional upside potential.
The investment bank also revised its earnings-per-share (EPS) forecast for 2025 upward, from 2.22 to 2.81 pesos, reinforcing optimism about the company’s financial trajectory.
Televisa Stock Rally in 2025
With this latest jump, Televisa shares have already gained nearly 40% year-to-date, climbing from around 7 pesos at the start of 2025. The combination of streaming growth, stronger fundamentals, and demographic tailwinds in the U.S. Hispanic market has shifted market sentiment in Televisa’s favor.
Industry analysts agree that the company is entering a new growth phase, with ViX+ positioned as a leading Spanish-language streaming platform and TelevisaUnivision emerging as a dominant force in Hispanic media.
