Hemisphere Media Group Inc (NASDAQ:HMTV) Q3 2019 Earnings Conference Call Transcript

Nov 05, 2019 • 10:00 am ET

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Hemisphere Media Group Inc (NASDAQ:HMTV) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day ladies and gentlemen and welcome to the Hemisphere Media Group Inc.'s Third Quarter 2019 Financial Results Conference Call. My name is Kevin and I'll be your operator today. A replay of the call will be available beginning at approximately 1:00 PM Eastern Time today, Tuesday, November 5th 2019 by dialing 855-859-2056 or from outside the United States by dialing 404-537-3406. The conference ID for the replay is 4068992.

I will now turn the call over to Ms. Danielle O'Brien. You may begin.

Executive
Danielle O'Brien

Thank you, operator and good morning everyone. I'd like to welcome everyone to today's conference call. I'm Danielle O'Brien and I'm with Edelman Financial Communications, Hemisphere's outside Investor Relations firm.

Joining me on the call today is Alan Sokol, Hemisphere's Chief Executive Officer and Craig Fischer, Hemisphere's Chief Financial Officer.

Today's announcement and our comments may contain certain statements about Hemisphere that are forward-looking statements within the meaning of the US Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations of the management of Hemisphere and are subject to uncertainty and changes in circumstance, which may cause actual results to differ materially from those expressed or implied in such forward-looking statements. In addition, these statements are based on a number of assumptions that are subject to change. Please refer to our company's most recent Annual Report on Form 10-K and other public filings for a more complete discussion of forward-looking statements and the risk factors applicable to our company. Forward-looking statements included herein are made as of the date hereof and Hemisphere undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances.

During today's call, in addition to discussing results that are calculated in accordance with Generally Accepted Accounting Principles, we will refer to adjusted EBITDA, which is a non-GAAP financial measure. A reconciliation of GAAP to non-GAAP information is included in our earnings press release, which was issued earlier this morning. Management believes that this non-GAAP information is important to investors' understanding of our business.

I will now turn the call over to Alan.

Executive
Alan J. Sokol

Thank you, Danielle, and good morning everyone. Our channels performed strongly during the quarter, maintaining or expanding our leadership positions. We continue to innovate and create fresh, compelling content for our unique and high growth audiences on a very cost-effective basis. We are also excited about the progress we are making in the value we are building on our strategic initiatives.

In Puerto Rico, WAPA's rating results showed strong year-over-year growth. WAPA's prime-time ratings in Q3 grew by 19% among adults 18 to 49, driven by WAPA's unrivaled programming lineup, including the new hit reality competition series, Guerreros. Guerreros ratings have increased every month since its May launch and during the third quarter, Guerreros ratings among adults 18 to 49 were higher than Univision and Telemundo combined. For several weeks during the summer, Puerto Rico experienced significant political unrest, culminating in the resignation of the Governor and [indecipherable] process to select the