TelevisaUnivision posted a mixed set of first-quarter results, as CEO Daniel Alegre warned of U.S. competitive challenges in June and July from World Cup soccer airing on rival networks.

Total revenue across the U.S. and Mexico inched up 5% to $1.075 billion. Adjusted operating income before depreciation and amortization [OIBDA] fell 6% from the year-earlier period, coming in at $323.3 million. U.S. advertising slipped 12% to $309.9 million.

Subscription and licensing revenue in the U.S. gained 12% from a year ago to $384.7 million, with streaming flagship Vix continuing to gain ground and offset linear declines. The privately held TelevisaUnivision said Vix’s premium tier and higher average rates helped boost subscription and licensing revenue. A new carriage deal with Disney’s Hulu + Live TV was another plus, and Mexico also gains in content licensing driven by demand for the company’s sports rights.

Asked by Wall Street analysts during the company’s quarterly earnings call about the impact of the Iran War, Alegre said it is hurting consumer spending but has not hit advertising revenue thus far. One challenge he did call out is the World Cup. While TelevisaUnivision has exclusive rights to 104 World Cup matches in Mexico, Telemundo and Fox have Spanish-language and English-language rights in the U.S., respectively.

Given the heat on the expanded, North America-set soccer tournament, “we are facing some of the challenges of a softer sports slate,” Alegre said on Tuesday’s conference call. “That is likely going to be reflected more strongly in Q2 and Q3, when we’re up against the World Cup live.” Ad categories like quick-serve restaurants, automotive and technology are due to experience “pressure,” the exec added.

“We’re looking to offset this pressure by growing categories that are not as sensitive,” he added, among them pharmaceuticals and financial services. “We knew it was going to be a challenging 2026 in the U.S. ad market.”