Discovery Communications Inc (NASDAQ:DISCA) Q1 2019 Earnings Conference Call - Final Transcript

May 02, 2019 • 08:30 am ET


Discovery Communications Inc (NASDAQ:DISCA) Q1 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Discovery Communications First Quarter 2019 Earnings Conference Call. (Operator Instructions) As a reminder, this conference call is being recorded.

I would now like to turn the conference over to Mr. Andrew Slabin, Executive Vice President, and Global Investor Strategy. Mr. Slabin, you may begin.

Andrew Slabin

Good morning, everyone, and thank you for joining us for Discovery's First Quarter 2019 Earnings Call. Joining me today are David Zaslav, our President and Chief Executive Officer; Gunnar Wiedenfels, our Chief Financial Officer; and JB Perrette, President and CEO, Discovery Networks International. You should have received our earnings release, but if not, feel free to access it on our website at

On today's call, we will begin with some opening comments from David and Gunnar, and then we will open the call up for questions with David, Gunnar and JB. Before we start, I'd like to remind you that comments today regarding the company's future business plans, prospects and financial performance are forward-looking statements that we make pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

These statements are made based on management's current knowledge and assumptions about future events, and they involve risks and uncertainties that could cause actual results to differ materially from the expectations. In providing projections and other forward-looking statements, the company disclaims any intent or obligation to update them.

For additional information on important factors that could affect these expectations, please see our annual report for the year ended December 31, 2018, and our subsequent filings made with the US Securities and Exchange Commission.

And with that, I will turn the call over to David.

David Zaslav

Good morning, everyone, and welcome to our first quarter 2019 earnings call. We've started the year with very strong operating momentum across the company with positive financial results domestically and internationally as we continue to create, develop and acquire the highest-quality content with broad consumer appeal in every market around the globe. I have made it clear, Discovery's strategy is different than any other media company.

While everyone else is focused on big and expensive movies and scripted series, a very crowded space, we have a different approach. We have brands people identify with and love. We are gaining distribution in all key bundles in the United States and around the world and enjoy a unique global footprint. We have a proven management team, best in the business.

We have a delevered balance sheet and capital structure that gives us great optionality. I believe we are the leading global IP company, and we have important, entertaining and useful content in categories that are loved, trusted and safe. Our content has the broadest multigenerational consumer appeal and high-perceived value among advertisers and distributors.

We are powering people's passions in genres that are essential to their lives, and we have niche channels, quality brands and talent that people around the world trust, respect and believe in. And we are now starting to