COVID-19 infects Televisa’s earnings, which fall 89% in 2020

At the beginning of the health contingency, to prevent the spread of COVID-19, the federal government imposed restriction measures that prevented sports and entertainment events, for which Televisa has broadcasting, organization or promotion rights, affecting profits of the company.

However, between September and December 2020, “our Content business recovered from previous quarters as a result of the lifting of mobility restrictions in some of the regions where our clients are located,” the company said.

But this does not ensure the recovery of the Azcárraga firm, since it depends on the advertising demand of the companies that are still cautious with their investments.

The profit of the operating segments decreased 1.3% in 2020, reaching 40,510 million pesos.

In the cable category, the company achieved a record organic growth of 1.4 million subscribers, reaching a total of 14.1 million users. This allowed an annual sales increase of 8.8%.

Sky experienced its highest growth in broadband and video additions since 2016, achieving a 3.7% increase in sales.

From Televisa they are aware that the magnitude of the impact of their business will depend on the duration and intensity of the COVID-19 pandemic, as well as the actions of the Federal Government and state authorities.

“Due to the changing and uncertain nature of this situation, the company cannot fully estimate the impact that the pandemic will have (…) it could continue to affect the business, the financial situation or the results of operations in the short, medium or long term ”, They said.