Univision Music Group posted net revenues of $178.6 million for 2004, according to parent company Univision Communications.
Net revenue for the music group — which includes Fonovisa Records, Univision Records and 50% of Disa Records — was up from the $113.2 million reported for 2003.
Univision Music Group, which is headed by Jose Behar, generated profit of $23.3 million, up from $9.5 million the year before.
Disa contributed $51 million of net revenues and $9.8 million of operating income for 2004. Univision is expected to acquire Disa in full by 2006.
For Univision Communications overall — whose holdings include the Univision, Galavision and Telefutura networks, Univision Radio and univision.com — annual net revenue was $1.8 billion,
up from $1.3 billion the year before. Net income was $594.6 million, up from $433.6 million. The bulk of Univision’s revenue comes from its TV operation, which reported a net income of $461.4 million for 2004.
Univision stock was up $2.76 to $29.15 in trading today (March 1).