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HEMISPHERE MEDIA GROUP, INC.

hemispheretv.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2022 10-Q, filed Aug 8, 2022. Its latest SEC filing is a 15-12G from Sep 21, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Distributes Spanish-language streaming and television programming, produces local news and entertainment, and licenses content to Hispanic and Latin American viewers and media platforms.

How Did They Make Money?

Cable, satellite and telecommunications distributors pay per subscriber under multi-year agreements, while streaming subscribers are billed at the start of monthly or annual memberships. Advertisers pay for commercial spots when they air, and content licensees pay when licensed content is delivered.

revenue
SegmentShareRevenue
Subscriber revenue
Recurring

60%
Advertising revenue
Sold outright

37%
FY2018: 41%
Other revenue
Licensed
3.1%
FY2018: 6.5%

Who Were Their Customers?

Cable, satellite and telecommunications distributors carry the television networks, while viewers subscribe to Pantaya directly or through distribution partners. Advertisers buy commercial time, and media platforms license content.

Did Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2021.

Operating income, FY2021
5% of revenue
▼ −75% vs FY2020 ($41.7M, 28%)
Net income, FY2021
6% of revenue
▲ Now profitable vs FY2020 (−$1.2M, −1%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q2 FY2022, the three months to Jun 30, 2022
Revenue
▲ +7%
vs $50.5M in Q2 FY2021
Net income
▼ −38% (Loss)
vs −$6.3M in Q2 FY2021
Subscriber revenue share of revenue vs 63.9% in Q2 FY2021
  • Sep 13, 2022 Gato completed its acquisition of Hemisphere; Pantaya was sold to Univision Hemisphere’s common stock ceased trading and was delisted from Nasdaq.

Grew. Revenue grew 57% in 4 years, from $124.5M in FY2017 to $195.7M in FY2021, about 12% a year.

Pantaya becomes wholly owned The older report described Hemisphere as holding a partial ownership stake in Pantaya, while the latest report says the company acquired the rest and Pantaya became a wholly owned subsidiary.

New digital distribution The latest report adds a premium Spanish-language streaming platform and describes distribution through a web application and partners; the older report characterized Pantaya as a cross-platform video subscription service.

Revenue over time
Subscriber revenue Advertising revenue Other revenue Affiliate revenue Affiliate fees
$200M$100M$0

Who Did They Compete With?

Competes with Netflix, Discovery, Viacom, Disney, Amazon, AT&T, TelevisaUnivision, Telemundo, ESPN, TNT, TBS, Google, and Facebook

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