Grupo Televisa, S.A.B. (TV): Marketing Mix Analysis [Dec-2025 Updated]

You're looking at Grupo Televisa, S.A.B. (TV) right now, and honestly, the story isn't about legacy TV anymore; it's a high-stakes pivot to digital and connectivity that's finally showing traction after years of struggle. After a decade of declines, the stock is rallying because the operational discipline is translating: Q3 2025 showed the consolidated operating margin hitting the high-30s range, driven by cost cuts and the success of the streaming arm, ViX, which surpassed 10 million paying subscribers by late summer. To really understand where the value is now, we need to break down the Marketing Mix-the Product, Place, Promotion, and Price-to see exactly how they are monetizing that 18% growth in streaming and the momentum in their Izzi fiber business, which added 22,000 broadband customers in the last quarter alone.

Grupo Televisa, S.A.B. (TV) - Marketing Mix: Product

The product element for Grupo Televisa, S.A.B. (TV) centers on its media content distribution across linear and digital platforms, alongside its integrated telecommunications offerings. This product portfolio is designed to serve the global Spanish-speaking community.

ViX, the two-tiered Spanish-language streaming service (free and premium)

ViX operates with a hybrid model, featuring a completely free tier alongside ad-free and ad-supported subscription options. The platform surpassed 10 million global subscribers by the end of the summer of 2025, a significant increase from 7 million paid subscribers at the end of 2023. For the full year 2025, one forecast predicted the paid customer base would reach 10.5 million, representing an 18% growth rate, potentially making it the fastest-growing major subscription streaming service in the Americas (excluding Canada) for the year. The service delivered double-digit year-over-year growth in the second quarter of 2025. In Q2 2025, subscription and licensing revenue, which is driven by ViX's premium tiers, grew 2% when excluding foreign exchange impacts. The platform is on track to launch 40 short-form 'microdramas' by the end of 2025. In 2024, ViX generated $1 billion in revenue.

Izzi's triple-play services: high-speed fiber internet, cable TV, and telephony

Grupo Televisa is consolidating its telecommunications assets through the integration of Izzi and Sky. This combined entity offers services that include high-speed fiber internet. As of June 2023, the combined cable operations represented a 24.7% market share in Mexico as the second-largest fixed-broadband operator. The merger of Izzi and Sky generated a 38.1% increase in profits and a 7% decrease in operating expenses in the second quarter of 2025, largely due to workforce optimization and operational efficiencies.

Satellite pay-TV service (Sky) across Mexico, Central America, and the Dominican Republic

Grupo Televisa secured full equity control of Sky Mexico, integrating it with Izzi. This satellite pay-TV service has faced subscriber pressure, reporting 346,600 disconnections in the second quarter of 2025. The revenue for the Sky unit saw a decline of over 18% year-over-year in the third quarter of 2025. The strategic product move is to migrate satellite customers onto the unified fiber backbone.

Production and licensing of vast library of Spanish-language content (telenovelas, news, sports)

The combined entity with Univision holds what was described as the largest library of owned Spanish-language content globally. In the 2021 transaction that formed Televisa-Univision, Grupo Televisa contributed its content assets for a total valued at approximately $4.8 billion. This content fuels the production infrastructure, which is key for powering the streaming proposition and linear networks.

Advertising inventory across linear TV networks and digital platforms

Advertising inventory remains a core product, sold across linear television networks and digital platforms, including ViX. Total advertising revenue for the second quarter of 2025 was $742 million, representing a 5% decrease year-over-year. In the U.S. segment, advertising revenue was $455 million in Q2 2025, down 2%. In Mexico, advertising revenue was $287 million in Q2 2025, a decline of 11%. The first quarter of 2025 saw total advertising revenue at $563 million, a 13% decrease.

Here are key operational metrics for the product portfolio as of recent 2025 reporting periods:

The product strategy involves several distinct components, each with its own performance indicators:

• ViX premium tiers drove subscription revenue growth.
• ViX is on track to launch 40 'microdramas' by year-end 2025.
• Izzi's fixed-broadband market share in Mexico was 24.7% (as of June 2023).
• Sky revenue declined over 18% year-over-year.
• The content library was valued at $4.8 billion in the 2021 merger.
• Total advertising revenue decreased 5% in Q2 2025.

Grupo Televisa, S.A.B. (TV) - Marketing Mix: Place

Grupo Televisa, S.A.B.'s distribution strategy centers on leveraging its legacy infrastructure alongside its digital expansion to ensure content and services reach the broadest possible Mexican and international audience.

• Izzi's extensive fiber-optic and coaxial network, reaching over 20 million homes passed in Mexico as of the end of September 2025, primarily through Fiber to the Home (FTTH) infrastructure additions.
• Direct-to-home (DTH) satellite distribution via Sky, covering regions with limited fixed infrastructure, which is now being structurally integrated with the cable business.
• Global digital distribution for ViX via mobile apps, smart TVs, and web browsers, with paid subscribers surpassing 10 million globally by late summer 2025.
• Over-the-air (OTA) broadcast through four national free-to-air television channels in Mexico, supported by government concessions for programming distribution.
• Retail stores and authorized dealers for Izzi and Sky service sign-ups, operating under a consolidated structure following the merger of the two entities.

The consolidation of the cable (Izzi) and satellite (Sky) operations under a single command, finalized in 2025, is designed to create operational efficiencies and a unified distribution footprint. This combined entity represents a significant market share, holding approximately 58% of the pay-TV market and 24.7% of the fixed Internet market in Mexico based on pre-merger context following regulatory approval.

For the fixed-line telecommunications segment, the distribution metrics as of late 2025 show the following subscriber base:

The digital distribution channel, ViX, is a key growth vector, projected to reach 10.5 million paid customers in the Americas by the end of 2025, representing an 18% growth rate for the year. The revenue mix for ViX in 2025 is heavily weighted toward advertising, with 60% of revenue expected from advertising on its free and ad-supported tiers, while the ad-free subscription tier is anticipated to contribute 36%.

The DTH satellite service, Sky, experienced subscriber pressure, reporting 346,600 disconnections in the second quarter of 2025, which contributed to a 23.9% year-on-year decline in its revenue-generating units by the third quarter of 2025. The integration aims to leverage Sky's satellite reach for regions where the fiber network does not extend, maintaining a hybrid distribution capability.

• Izzi's network added 27,700 homes with Fiber to the Home (FTTH) during the third quarter of 2025.
• The mobile telephony offering, operating as a Mobile Virtual Network Operator (MVNO), ended the third quarter with 557,600 mobile lines.

Grupo Televisa, S.A.B. (TV) - Marketing Mix: Promotion

You're looking at the promotional engine driving Grupo Televisa, S.A.B. (TV)'s ecosystem as of late 2025. This is where the content investment translates into audience engagement and, ultimately, revenue across the platform.

Heavy cross-promotion of ViX content across TelevisaUnivision's linear TV networks and social channels.

The strategy centers on using the massive reach of the linear ecosystem to feed the streaming service, ViX. This cross-platform approach is showing measurable results in audience growth and engagement.

• ViX is delivering incremental audiences, reaching 28 million U.S. video viewers across all platforms.
• Streaming hours per user on ViX have increased by over 70% year-over-year.
• Ads on Spanish-language TV networks demonstrated 31% greater effectiveness than English-language TV ads in 2024, a metric used to optimize cross-platform campaigns.

Sponsorships and advertising sales leveraging major sports events like Liga MX and national team games.

Major sports rights remain a core promotional asset, driving high-demand inventory for advertisers across linear and streaming platforms. The broadcast of key properties is explicitly cited as a driver of demand.

Use of high-profile on-air talent and celebrities to defintely market new programming.

Securing talent deals is a direct promotional tactic to generate buzz and secure viewership for new content, which then feeds the cross-promotion cycle.

• New content deals were announced with producer Juanpa Zurita and his company ARCO Entertainment.
• A partnership deal was established with William Levy Entertainment to develop two new projects for the platform.

Targeted digital advertising campaigns for Izzi's fiber internet to drive new customer acquisition.

While specific Izzi digital ad spend is not itemized, the broader context shows a focus on measurable acquisition, and the company is consolidating its fixed-line assets, which impacts marketing focus.

The company is focused on fiscally responsible customer acquisition, with Return on Ad Spend (ROAS) and Customer Acquisition Cost (CAC) being the top metrics used to measure marketing spend in the industry for 2025. Marketing costs are explicitly included in the efficiency plan savings.

Bundle promotions offering ViX Premium with Izzi or Sky packages to increase service stickiness.

Service stickiness is being addressed through structural integration, which supersedes simple bundle promotions in the near term.

In August 2025, Grupo Televisa merged Izzi and Sky. This structural move is key to service integration and retention efforts. Separately, ViX subscribers surpassed 10 million by the end of the second quarter of 2025, with forecasts predicting growth to 10.5 million paid customers by year-end 2025, an 18% growth rate for the year. This growth is happening despite Sky's Q2 2025 revenue declining by 16.3% year-on-year, partly due to a slowdown after implementing a MXN 1,250 installation fee for new satellite pay-TV subscribers in that quarter.

Grupo Televisa, S.A.B. (TV) - Marketing Mix: Price

You're looking at how Grupo Televisa, S.A.B. prices its diverse portfolio of media and telecommunications services as of late 2025. Effective pricing here means balancing the perceived value of premium Spanish-language content and high-speed connectivity against aggressive competition in the Mexican market.

Streaming Subscription Tiers

For the ViX streaming service, Grupo Televisa, S.A.B. employs a clear tiered structure to capture both price-sensitive and premium viewers. The entry point is the ViX Gratis tier, which is free and ad-supported, helping to build a massive user base for future conversion.

For the expanded content library, including exclusive originals and more live sports, the premium offering has two distinct price points in the U.S. market, reflecting the value of an ad-free experience:

• ViX Premium (with ads): priced at $5.99 per month.
• ViX Premium (no ads): priced at $8.99 per month.

This strategy allows Grupo Televisa, S.A.B. to compete directly on price with other ad-supported and ad-free services while maximizing revenue per user. The platform also offers the premium version as an add-on channel for other services, such as on Amazon Prime Video for $8.99 a month.

Broadband and Bundled Service Pricing

In the competitive Mexican telecommunications space, Izzi's pricing for bundled services is value-driven, aiming to secure market share against rivals like Megacable. The strategy here is to use aggressive introductory pricing, which can, to be fair, sometimes make the post-promotional pricing structure a bit confusing for the end-user.

Here's a look at some comparable market data points for high-speed internet, which inform Izzi's competitive positioning. Remember, these are often in Mexican Pesos (MXN) and reflect promotional periods:

The consolidation of Izzi and Sky in August 2025 under the leadership of Francisco Valim, who also heads the Cable segment, is intended to generate operating synergies and efficiencies, which should eventually support more stable pricing structures.

Linear Advertising Rates and Promotional Offers

For its flagship linear television channels, Grupo Televisa, S.A.B. commands premium advertising rates, which are justified by its unmatched audience reach among U.S. Hispanics. The company remains the number one network in primetime with this demographic for 33 seasons. While specific rate cards aren't public, the high demand for these slots reflects their perceived value in connecting brands with this audience.

To manage customer retention for its cable and satellite services, the company relies on structured promotional pricing:

• Discounted introductory offers are common to lower the initial barrier to entry.
• Long-term contract pricing is used to lock in subscribers and reduce the risk of churn.

Following the full acquisition of Sky Mexico in June 2024, with the transaction price to be paid in 2027 and 2028, there is a clear financial incentive to maximize the revenue from the now wholly-owned satellite platform. The operational focus on synergies between Sky and Izzi is key to maintaining competitive pricing while improving profitability, as evidenced by the reported net profits of MX$474.5 million (US$25.3 million) in 2Q25.

Sky Package Variability

Pricing for Sky packages is variable, structured based on the number of channels included in the offering and the level of regional market competition. Since the merger with Izzi in August 2025, the pricing strategy for the combined pay-TV offering is likely being aligned to leverage the combined infrastructure and customer base, though specific 2025 package price points are proprietary.

Finance: draft 13-week cash view by Friday.