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HEMISPHERE MEDIA GROUP Hemisphere Media Group Announces Second Quarter 2021 Financial Results Pantaya Grows to Nearly 1 million Subscribers MIAMI , FL — ( August 9 , 2021 ) — Hemisphere Media Group , Inc. ( NASDAQ : HMTV ) ( “ Hemisphere " or the “ Company ” ) , the only publicly traded pure - play U.S. media company targeting the high growth U.S. Hispanic and Latin American markets with leading broadcast and cable television and digital content platforms , today announced financial results for the second quarter ended June 30 , 2021 . President and Chief Executive Officer of Hemisphere , Alan Sokol , said " Our business continues to fire on all cylinders as we experienced yet another great quarter of growth . Importantly , we experienced strong advertising growth over 2019 , which speaks to the power of our channels , content and fast - growing audience , as well as our ability to execute our stated strategy . " Pantaya is demonstrating strong results , and as of quarter end , we had close to 1 million subscribers . We are proud of the subscriber increases we have experienced in just the first quarter since our acquisition , and are incredibly excited about our upcoming pipeline of original content . With our compelling and unique lineup of originally produced series and movies , we are confident we will continue to drive accelerated subscriber growth . We have already seen strong growth from the promotional synergies offered by the Hemisphere networks , including Pantaya's rise to the # 1 position on Android among entertainment apps in Puerto Rico as of July 31 , ahead of Netflix , Disney + and HBOMax . " The Puerto Rican economy is stronger than it has been in years , with great metrics for both business trends and consumer activity , and we expect this growth to continue , with major public projects funded by federal aid expected to commence in 2022. WAPA continues to be the clear ratings and advertising leader by a wide margin . " We are also excited to announce that we have signed a distribution agreement with YouTube TV for carriage of Pantaya , Cinelatino , Pasiones and WAPA America , with an anticipated launch prior to year - end . " I am incredibly proud of our performance , and I'd like to thank all of our employees , audiences , and partners . We had a very strong first half of the year , and have strong momentum heading into the second half of 2021. " Financial Results for the Three and Six Months Ended June 30 , 2021 Net revenues were $ 50.5 million for the three months ended June 30 , 2021 , an increase of 45 % , as compared to $ 34.7 million for the same period in 2020. Net revenues were $ 88.0 million for the six months ended June 30 , 2021 , an increase of 31 % , as compared to $ 67.1 million for the same period in 2020. The increases in both periods were due to growth in both subscriber and advertising revenue . For the three- and six - month periods , subscriber revenue increased $ 12.9 million , or 67 % , and $ 13.1 million , or 33 % , respectively , primarily due to the inclusion of Pantaya , which the Company acquired on March 31 , 2021 , as well as contractual rate increases and new launches of our networks , offset in part by a decline in U.S. cable subscribers . For the three- and six - month periods , advertising revenue increased $ 4.9 million , or 40 % , and $ 9.0 million , or 37 % , respectively , primarily due to growth in the Puerto Rico television advertising market , coupled with an increase WAPA's share of the market , as well as an increase in advertising revenue at our cable networks . For the three- and six - month periods , other revenue decreased $ 2.1 million , or 69 % , and $ 1.1 million , or 30 % , respectively , driven primarily by the timing of the licensing of content .