Reggaeton fueled net revenue.
Univision Communications is kicking off the fourth quarter with a bang, revealing strong financial results for the third quarter ending
Sept. 30. The company posted a net revenue increase of 4%, up from $477.4 million in 2004 to $497.5 million in 2005.
Univision reported a net revenue increase in all of its departments for the third quarter, including music and radio. The company's net revenue for Univision Radio grew by 8% in the third quarter, fueled in part by its new reggaeton format, La Kalle.
Univision Music Group, the biggest selling Latin music label in the country, posted net revenues of $50.8 million for the three months ending Sept. 30 and a profit of $9.4 million for the same time period.
For the first nine months of the year, the company posted a net revenue of $161.9 million -- up from $131.7 million the year before -- and a profit of $28.5 million, up from $21.6 million the year before.
Univision Music Group is comprised of Univision Records, Fonovisa Records and 50% of Disa Records.