Univision Communications entered the fourth quarter of the year with a bang, announcing strong financial results for the third quarter ending Sept. 30.
The company posted a net revenue increase of 4%, from $477.4 million in 2004 to $497.5 million in 2005. Univision says it posted a net revenue increase in all its departments for the third quarter, including music and radio. In Univision Radio, the company’s net revenue grew by 8% in the third quarter, fueled in part by its new reggaetón 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 net revenue of $161.9 million, up from $131.7 million the year before. For the same period, it recorded 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.