Gray Television, Inc. (NYSE:GTN) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 10:00 am ET

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Gray Television, Inc. (NYSE:GTN) Q2 2020 Earnings Conference Call - Final Transcript

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Q & A
Executive
James Ryan

going to get squeezed a little bit. But everybody that's followed us for years realized we always outperformed in political. So that's a high-class problem to have if that indeed happens.

So I'll let Pat and/or Bob give you a little more color on what we're seeing.

Executive
Pat LaPlatney

Sure. So I'll jump in real quick. It's Pat. Particularly in times like these, it's not only viewers that tend to lean on their trusted Number 1 stations, but advertisers do the same. So as Jim mentioned, our really strong portfolio of stations is a significant benefit right now. I'd also add that our training team, they've done great work for us for the past five to seven years. It is having a huge impact on our already strong sales force, but particularly over the last 18 months, they've done great work. And then also, in general, say that you'll see a look from our excellent digital and business development groups.

So Bob, if you want to add any detail, jump in.

Executive
Robert Smith

Sure, Pat. Certainly, some of our digital efforts are contributing to that, along with some verticals we're doing as Pat has mentioned. But in addition to that, I can't emphasize enough how our portfolio of stations can make a huge impact in the market. There's often client's budgets are down. But when you have dominant stations, they're going to find money for the dominant station. The number three, four and five may get nothing, but we're going to get bought. And we're there for those clients year in and year out and they trust us. And so that's certainly a factor as well. And the fact is we -- Pat mentioned the training program, but let me -- I can't oversell that enough. That group has been phenomenal. And the resources they provided since March, they jumped right in with a lot of different things and they've created a lot of different selling events and that certainly helped. And then lastly, I would say, we have a competitive group. And the six SVPs who oversee our markets is somewhat evenly divided. But for example, this morning, I got an e-mail from one of the groups that run the regions. And his region, they had 20 people, salespeople that is, that had sold at least $20,000 [Phonetic] in new direct business all the way up to $50,000, $60,000 [Phonetic] somebody had sold, which is pretty phenomenal.

So the point is that we're trying to look under every rock for every dollar that we can find, and we're doing a pretty good job of it. Now it doesn't make up for all of it, but we are really aggressive on the sales front across the company.

Analyst
Daniel Kurnos

Got it. That's really helpful color, everyone. I appreciate it. Just, Kevin, before I jump off, just quickly, did you get the full benefit of the two major renewals that I know were extended past their expiration dates in 2Q or might there be some kind of