MEXICO CITY, Oct 28 (Reuters) - Grupo Televisa (TLEVISACPO.MX), Mexico's largest broadcaster, expects its ViX streaming service to be profitable by the end of 2023, Chief Executive Alfonso de Angoitia said Friday.
TelevisaUnivision, a joint venture with U.S. broadcaster Univision, earlier this year launched the Spanish-language streaming service ViX, which will compete with established rivals like Netflix Inc (NFLX.O) and Amazon.com Inc's Prime Video (AMZN.O).
De Angoitia said about 50% of the subscribers for ViX+, the paid version of the platform, were coming from the ad-based version of the service through the app shared by both.
The company posted on Thursday a net profit of 1.118 billion pesos ($55.6 million), a 47% increase from a year earlier.
Those businesses accounted for about 7.4% of consolidated revenue and about 3.4% of earnings before interest, taxes, depreciation and amortization (EBITDA), executives said.