TelevisaUnivision, a leading force in Spanish-speaking media, has announced a major change in its leadership, naming Daniel Alegre as its new CEO. Alegre, who was most recently CEO of non-fungible token firm Yuga Labs and previously held executive positions at Activision Blizzard and Google, replaces Wade Davis. Davis, who played a key role in the merger of Televisa and Univision in 2022, will move to the role of vice president and will remain a member of the company’s board of directors.
This change comes as TelevisaUnivision faces ongoing challenges to improve its profitability, especially in the US market. Despite successfully launching the ViX streaming platform, which has attracted around 50 million monthly active users, the company has struggled to meet its internal financial goals. In 2023, profits fell to $1.61 billion from $1.69 billion the previous year. In addition, the company still carries a considerable debt of $9.8 billion, with little progress in reducing it since the merger.
TelevisaUnivision has seen positive revenue growth in the Mexican market, where advertising and streaming have driven profits. However, business in the United States has fallen short of expectations, which is one of the key reasons for the change in leadership. The company expected better results under Davis, who oversaw the acquisition of Univision and the subsequent merger with Televisa. His strategy focused heavily on digital transformation and streaming, leveraging his previous experience with Pluto TV during his time at ViacomCBS.
Alegre’s appointment is seen as an effort to revive growth, particularly in the US market, where competition with giants such as Netflix and Disney+ remains fierce. His extensive experience in media, technology and Latin America positions him to lead TelevisaUnivision in its next phase of development.
