why is TV "Significant Net Income Decline"

Grupo Televisa has experienced a significant net income decline due to a combination of factors:

1. **Revenue Decline**: The traditional TV sector, including cable, satellite, and telco TV providers, lost $12 billion in subscription and advertising revenue in 2024. This decline is a result of the shift from traditional TV to connected TV, with pay live TV subscription revenue falling 12% to $69 billion and advertising revenue declining by $1.4 billion to $59 billion.
2. **Subscriber Losses**: Cable, satellite, and telco TV providers lost 12% of their subscribers in the first three quarters of the year compared to the same period in 2023, resulting in 7.6 million households canceling service. This loss of subscribers contributed to the decline in revenue.
3. **Virtual MVPD Growth**: While the traditional pay live TV business declined, virtual MVPDs gained almost 3 million subscribers, finishing with 18.6 million. This growth in virtual MVPDs helped cushion the decline but could not fully offset the loss of subscribers and revenue from traditional TV providers.
4. **Strategic Challenges**: Despite the challenges, Grupo Televisa has been working on strategic improvements and cost efficiencies. However, the need for revenue growth and the management of expenses remains a concern.

In summary, the significant net income decline for Grupo Televisa can be attributed to the revenue decline due to the shift in consumer behavior, subscriber losses, and strategic challenges faced by the company.