Loading...
Docoh

Entravision Communications (EVC)

Participants
Kimberly Esterkin ADDO Investor Relations
Walter Ulloa Chairman and Chief Executive Officer
Chris Young Chief Financial Officer and Treasurer
Michael Kupinski NOBLE Capital Markets
James Dix Industry Capital Research
Call transcript
Due to licensing restrictions, you must log in to view earnings call transcripts.
Operator

Greetings, and welcome to the Entravision Communications Corporation's third quarter 2021 earnings conference call.

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Kimberly Esterkin of investor relations. Thank you.

You may begin.

Kimberly Esterkin

operator. you, Thank and conference everyone, Entravision's third XXXX Good welcome earnings call. quarter afternoon, to everyone and I staying is hope healthy safe.

officer. Chris Joining me and chief and chairman Walter is financial Young, on the chief call executive today Ulloa, officer;

call is the Before we of Corporation impact begin, written could of actual any risks forward-looking could the filings must to inform that cause call to a actual redistribution, rebroadcast that subject of uncertainties differ. for will Please property Entravision's Entravision this are is Communications This or form uncertainties this refer Any Corporation. you statements Communications and prohibited. and contain consent that of expressed Entravision I conference results. in risks strictly without retransmission that results the call list to SEC

Walter Ulloa

afternoon, you, third We call. earnings strongly, no business and Thank joining third Entravision's us quarter and appreciate good was very everyone. perform XXXX Kimberly, for the continues to Entravision's exception. quarter you

all businesses our third revenue, to we of Digital the business as of see majority We our a our in revenue digital become in vast global total has to comfortably our evolve star. with of growth representing powerhouse. are shining particular, quarter digital, become proud across media the core XX%

digital our digital of XXX marketing we business Digital, evolving of announced Speaking a South in solutions today, just the Africa. acquisition company headquartered

television $XXX increased our results, quarter. about for core I'll was the well more largely improvements which for basis, third let's continued pro third third on third Interactive as Net acquisition as including digital first, with speak last digital strategy a acquisition, our XXXX. up and businesses. months, and the driven Growth revenue MediaDonuts On totaled our the quarter about prior in over consolidated Cisneros marks begin our and of are this and by business, excited the revenue audio results of But quarter quarter We year-over-year. very within digital the growth sequential the during forma year the XX% year-over-year million, call. XXX% XX the later our and

three XX, digital $XX.X for XX% the continued Adjusted up the For September the MediaDonuts, quarter, EBITDA Similar benefited way. forma business ended of On segments basis, the revenues all XX% and from increased million accounting adjusted XXXX. improvements Interactive same with Cisneros the year-to-date year-over-year a quarter, leading to nine totaled compared months sequential totaled XXX% the $XXX.X for period year-over-year. to revenue pro in up EBITDA third and year-over-year. million,

many pandemic, in maintain cost beginning help place the of incredibly results put to growth. our improving same the top to able the of been line reductions drive have EBITDA at the We while strong at time,

which performance. XXXX, a increased let's third than XX more acquisition segment the the drivers the revenue $XX.X generated take the On year our of third quarter. period. compared a of forma and this during quarter majority improvement MediaDonuts XXXX, Interactive interest of Cisneros fourth wholly pro the became our our in prior of to in quarter digital the of at owned revenue basis, beginning higher growth, a with was the totaled acquisition in third XX% XX% total organic revenue million for Now, times our in Digital of the company of than Digital third Along look primary quarter, quarter. strong year for prior the period. the million $XXX.X represented at the revenue

player America. become result, dominant like major And partnerships a maintained the technology in end Linkedin Facebook, in noted, digital company. XXX% well. officially own Latin of XX% August, in with and platforms acquired now performing remaining Interactive Interactive a Cisneros sales Entravision just of I Latin Cisneros the at America. we As The the interest business Spotify extremely been has and has as

representations, media combination radio broadcast a on audience our downloads podcasts which as and the focused local of third solutions, X.X El all now Boton, per streamed million shows, digital is business and app, digital and digital quarter. includes our top month during global audio programmatic talents Our technology of such that tier over

additional MediaDonuts, our drivers other and XXXX third and of unit market compared third serves which of than segment now in was countries. the campaigns headquartered XXX QX solutions, revenue QX of running the each of recent programmatic business, revenue in digital acquisition countries, business digital mobile local our acquisition included quarter than global US Including in month versus XX% clients more in Performance its which in with X,XXX grew growth over Speaking of up to our our and quarter Barcelona, user XXXX. Smadex, more XXXX XX XX%, solutions digital

now a their becoming the particularly integration the as Southeast completed. are integrate Twitter The and digital is addition, office been going we MediaDonuts with back player Asia, well of of heavy to in successful With MediaDonuts lifting has most TikTok.

revenue turn which in quarter. comprised million advertising down was period, for $XX.X national compared by for revenue, let's due the our decrease segment, Television prior offset third partially a in revenue. X% to increases and of to the Now, local political to revenue roughly XX% QX, year television primarily the

advertising comparing chips. TV total continues car of and to new QX to television category QX pre to million QX The particular, spend XXXX. core television XX% up supply year-over-year. of the increased in COVID with revenue revenue versus California increasing results, face election political with $XXX,XXX XXXX XXXX $X.X When international advertising political XXXX spend chain local related QX related and XX% finished presidential in Excluding QX sales, revenue XXXX supply advertising in auto recall electronic in XXXX, X% revenue pressures the to and national related election, flat the QX

by the of delays is While new availability remain for in consumer cars demand impacted being cars production. strong,

X% of in and the QX quarter, assisted services the grew same And rollout up so, also sales last period. travel year X%, in conditions television, auto compared macro the year up the improving Offsetting these all quarter Retail, was to and prior declines, as by vaccine. third down were restaurants, to ad overall were and the in period. healthcare X% the leisure, compared

Turning performance. to our rating

XXXX. market television built in Univision leadership Our affiliates upon September their

of our to Telemundo CONCACAF among XX early we in news, competition, ahead we in Univision stations period XX national local the and Number ties. teams Univision the to stations, all news, competition, the impressive local stations adults UniMas ahead XX XX of adults final rounded to delivered XX on where outperforming in time plus local XX nine competition the finished between plus head-to-head XX competitors of XX The the the finished head-to-head tournament of have have markets up Olympics. adults summary for three For States we our markets XX late markets, markets two In XX Mexico, in where along broadcast ties. XX, ratings. and Telemundo to soccer television ranked One our of NBC Two Gold United game television match The Cup among XX Number Summer or adults among and the

of quarter revenue totaled audio XX% Finally, million let's Audio audio national turn to third $XX.X for XX% our increased a revenue remaining quarter, sizable the audio our year-over-year, while segment, year-over-year. Local was year-over-year. up the XX% third of which revenue revenue. X% comprised increase

and versus million $XXX,XXX Excluding the results, to radio election, total in pre-COVID stronger. presidential radio recall increased related QX QX the across in revenue execution core XXXX. political of XXXX XXXX audio the QX related revenue $X.X third election XXXX in of California QX comparing When revenue XXXX. XX% of could spend not political spend with grew XX% QX to audio XXXX be The business QX XXXX quarter our versus

base sales, years Chris margins of addition national bottom top of president our we executive business now positioned and reorganized record segment we and XX%. XXXX, Munoz two our radio This are vice and client our seeing for line the streamlined performance. ago, just the breakeven With of June gross of in was improved operations,

market quarter. XX%. at Now, performance last Number specifics by updating performance increased let's radio ad for our for while our revenue to third cluster the radio XX%, the Los XXXX compared look Angles segment's year, also revenue In more One of

total outperformed markers which to nine subscribe XX In Kaplan where total of outperformed Entravision spot market outperformed by revenue, combined. of in subscribe the by seven Miller we Miller XX%, we total the Kaplan. radio to a to in Los the XXXX, total We the revenue months cluster for markets Angeles we achievement. the For XX% market XX the first remarkable the data market

we and leisure, Services which categories, In up categories. XX% largest which terms total audio top XX%, year-over-year. and of year-over-year the included categories, restaurants, retail, And representing largest advertising of XX% our remained a on we which travel improved improved saw XX period. our prior in healthcare, fifth nine saw category, ad XXX% year growth to all growth improved basis. as improved Services Other of compared XX% was XX%; our category, revenue.

car spending issues compared to XX%, increased The an supply of despite dealerships, other based chain the ad third saw of local on earlier. discussed audio XXXX increase category the quarter by I

for division XX including XX three in of XX performance adults the stations, Number is among radio Hispanic XX ranked Chokolata our Erazno Entravision well stations, the In our show to y Across final year. to Erazno of reached ties. XX, nine XX. us Hispanic La One Spanish show La our markets among O&O ratings for Hispanic had to summer nine XXX,XXX positioning fantastic summary, quarter, adults language for at another eight than the Looking XXXX more summer released months Chokolata and y a adults the radio

to will our discuss I and further, third over to turn call quarter CFO, our speaking quarter XXXX pacings. Young, fourth performance our Chris XXXX Before Chris? financial the

Chris Young

afternoon, Thanks, Walter, and everyone. good

When the Cisneros results, totaled $XXX MediaDonuts from the Interactive XXXX. of the increase discussed pro and our year of comparing revenue quarter third basis XX% in increased As including revenue for forma revenue prior quarter on a Walter XXX% period. XXXX an third XXXX over million, and

over MediaDonuts XX% million, results, the basis, compared For Interactive digital including revenue in When XX Cisneros over pro prior up revenue year forma totaled last increased over revenue digital period. division, and fold our year. on our a $XXX.X XXXX

down TV revenue was total division, year-over-year. our $XX.X million, X% For

year-over-year. Excluding revenue revenue $X.X Retransmission political, million, ad the spectrum year-over-year. and flat related was totaled was quarter for XX% which up core

was XX% year division, QX year. audio of audio for the million, Lastly, excluding last $XX.X XX% over revenue over totaled period our core political, prior up revenue up

and SG&A the $XX.X Direct turn the were XX% XXXX, year-ago totaled of million XX%, up $XX.X operating the X% expenses period. quarter, from in expenses direct QX over Cisneros for million of let's of for increase And million to $X.X acquisitions, MediaDonuts compared the period. year to million XXXX. up were $XX.X expenses an Now, prior expenses. excluding QX in

Cisneros compared quarter. related the to year expenses XX% SG&A SG&A, were and prior Excluding up acquisitions the MediaDonuts

were Finally, same corporate of quarter, in million million of primary expenses quarter $X.X the by $X.X and corporate to noncash expense comp increases increased last compared total drivers to XX% salaries for The year. expenses. the

on our remained During buyback hold. the third share quarter,

to secondary serving maintained at our core the share also at and per businesses. levels dividend We our expenses $X.XXX eliminate to operating deemed continue corporate and

to We in for evaluate quarter, Entravision's a acquisitions, end end year-over-year. discretion Cisneros compared and continue EBITDA will Interactive $XX.X the September to adjusted third for starting $XX.X to was will of million year. million our portion Interactive quarter, which total basis, at Consolidated the accounting a XX% be adjusted X. at XXX% the XX% the of the and EBITDA up $X.X directors. quarter, which of On forma contribution Cisneros pro EBITDA each third million our through our EBITDA of and buyback August last MediaDonuts ownership represented represented in of board quarter third ownership totaled the adjusted

for a of for for the XXX% to year. period Going share to as continue the share Strong foreseeable free the defined conversion flow year free quarter $X.X for and Cash in adjusted to earnings flow third interest $X.X $X.X our future. free expected million quarter, EBITDA in period. $X.X $X.X will the in to compared be the $X.X period. million, year. $XX.X $X.X was the prior attributed to Cisneros per for quarter, same quarter business, year. year to capital approximately expenditures the $X.XX cash taxes approximately of million in for was expense income year-to-date are million capital third $X.X the million Cash the quarter be capital Entravision forward, XXXX release, last in we cash high same last of compared to the of the to was this our cash last cornerstone Net third million. $XX.X were to compared compared for million With expenditures remains in same $X.XX, in million, of year prior Interactive's million up rate million third compared expenditures the expect totaled of quarter Earnings quarter, XXX% per

books, $XXX XXXX, September quarter. totaled was securities leverage of and credit total Net Turning on our the our million. end and balance sheet, in debt of to Cash cash total accessible the marketable of remains as of books, marketable net strong. of $XXX.X XX, Total the the our and securities was which agreement million. million defined of cash third very times. marketable as as X.X was securities our X.X times total Net on leverage $XX

for pacings our to now fourth the of Turning quarter XXXX.

from Cisneros in a quarter today, prior revenue generated our and pacing business XX% forma a pro a is in over of our on As year, plus fourth pacing is the business Factoring the digital year of period. revenue at last MediaDonuts at digital plus XX%. basis

in is minus a prior in million excluding $XX.X the with over year pacing at pacing a X%. prior core XX% at Our TV minus TV business political period, advertising, the year,

the last XX% year, over Walter. at plus revenue results, period, back year's $X prior our year. million Pro pacing forma excluding in, pacing total generated year year, our political pacing at a audio pacing over pro our excluding year, total business XX%. plus at in a last a that, our year at million call in compared plus in in All political to to XX%. and is prior MediaDonuts XX% last I'll with a currently plusXX% turn acquisitions year revenue, in, at excluding total With Lastly, forma Walter? is last at minus plus audio, is prior our pacing political All the a the in the is is period. a over generated revenue last Cisneros X% $XX.X revenue core revenue our core pacing versus

Walter Ulloa

has some Thank been strategy Entravision Those building for following this been you, digital who have know that us growth Chris. time.

We powerhouse, with rapidly its and service Digital, a Interactive, now protocols. is early Entravision efficiently able of sales while unique others. This Digital, continents. while proud access Africa. regional existing Today, period welcome a remaining Latin for MediaDonuts sales MediaDonuts Interactive expand magic digital our as July brands have global is acquire brands third can global expertise partner is exists the across Cisneros this critical XXX Asia talent their services XX% Cisneros a past XXX presence businesses, digital are and sales The across month Part bringing our throughout further announced worldwide. Africa. within and operation were XX is Southeast on Linkedin presence operations to of and acquisition local Moreover, America, for Digital vision to we marketing in prior to to these leveraging scale TikTok, a particularly apply in and local and August. acquisition Entravision's we as resources, platforms, to to XXX where five our the grown Interactive partner geographies Twitter we the a leading advertisers into Facebook and businesses local and agencies, operating Entravision This digital little positions serving become to example, Entravision's acquisition end-to-end which and and maintains Trident, governance models sales with representations user South world's Africa region. Spotify, such no audio streaming digital ad video top MediaDonuts or sophisticated plan and global and representations of deploy technology South digital platforms, for Twitter, Anzu, the in a and and of platforms, game to headquartered model solutions digital of prominence platform. and with for Premier TikTok, Digital, TikTok marketplace; of also advertising commercial business Cisneros digital has Cape a leverage publisher our the digital publishers, platforms; advertising Facebook, advanced digital footprint XXX our digital African in in exclusive sophisticated advertising one and solutions. suite mobile a in We and standards Town, podcast to is Digital including proprietary XXX generated offers advertising network.

started consumers locations. these mover are addition While are perspective, States $XXX the international geographically Africa, growing of connective one within nearly they Facebook, advertising is in and marketplaces globally. and Entravision many has target to first from million extreme just digital advantage TikTok established United newest attractive Twitter with getting digital digitally emerging Sub-Saharan a well a economies. an the fastest our in market

as see management and that and we are some individual we passion, business than can to XXX seamlessly the culture, the Each achieve to Our excited model that Entravision vision audio, with digital our Digital's together. it's television easy create to a is to its In filing Entravision's of success see company all combined parts. of today of has together evolved business more significantly. segments, and summary,

perspective. multiple expand competition and us should powered consumer growth customer our a continue its is marketing puts alone from against associate The a well-oiled future talent forward our the in-house from base perspective of by a we around that new connected look the an perspective, from seeing client benefiting base up Entravision journey advance to a business digital to from and strengthen Our global become shareholder expanding and our continued world. bright, set capabilities machine solutions technology,

to would to their our efforts I strong concludes date. This like and team entire to always, contributions As for our performance prepared thank our remarks.

call So would for your thank questions. to of I Operator? continued will Chris you I open support to Entravision. like and up your now the again

Operator

gentlemen, a Michael conducting with first Our question-and-answer Please comes your Kupinski instructions] Capital now Ladies Markets. be of we’ll session. [Operator from question you. with Thank the question. and proceed NOBLE line

Michael Kupinski

morning. good Thank you, of and questions. Couple

the I drag pacings there terms any your impact of QX TV to pacing for the and be in the is the might data? of in what divisions, terms auto itself, from mean, in your way Regarding quantify radio category

Chris Young

Michael. Hey,

so really it's So impacting auto, the issue with is chip TV the and our the know, business. more business radio issue, big than you as

Two minus our and that's is XX%, Number auto TV, For category. at a pacing

deal. that's So a big

a as overall XX%, quite automotive but is not gave stepping you basis TVs means is at that at side, the we've the the bad. pace The and context pace a radio got minus category our the that minus though, plus gaps. filling at is, radio, in X%, on on For core the gives core because a up we are but that basis, which so basically good news XX%, automation. But on bad, the out on

Michael Kupinski

what that and is us gap, that the And the services? just other betting like categories Can of is flavor of are sports the in kind give you from coming so of forth or filling are strong? a

Chris Young

Sure. the type of government legal, are it's government insurance and Those that's offsetting pandemic messaging It's and movers messaging, COVID and radio big services, coming are both that related the coming from TV from funded healthcare. for it.

Michael Kupinski

Got you. for data And in that then, quarter? in fourth Digital, is digital included pacing of in terms your the XXX

Chris Young

not. an this is It But of is kind Michael, stage acquisition. early

to So not to as not disclose they're concerned. going going material the be is year far but that as digital we're acquisition, numbers platform overall this for

really there's model So point. at to nothing this

Michael Kupinski

of because meaningfully right? change doesn't either, acquisition sheet the balance the And

Chris Young

That's correct.

Michael Kupinski

Okay.

Chris Young

Yeah.

in the and million, If you the the look impact. P&L a big-ticket put context $X less press slightly that acquisition than not was release, should into item,

Michael Kupinski

didn't read that. a Yeah, all I thanks to for yet. through get that chance

great said strong Asian What to outside, here. a business, opportunity American of so a you do now is, Latin introduce for those? going for because They TikTok. how you opportunities you some TikTok that acquisition that How opportunities of there terms it with is some your And to think are represent integrate terms there? frenzy it's your on markets win building you're like a and Latin markets? don't able more TikTok. your an Is it in this Facebook to developmental you your American is be business and Obviously, in forth. of in relationship? The businesses represent but In the seems this Facebook relationship obviously, guys of been you've in great

Walter Ulloa

into three with TikTok acquisition, relationship We Walter. Southeast important this in with countries. with think expect South an this well in And Africa. and countries will the as it its be We we grow and as to it our platform Michael, important Asia represent next certainly, now, strengthens TikTok. further four future. that's We this believe in now that it year year. has And

them them relationship us. I I'll don't we on I certainly, all are we in Facebook, comment mean, Asia. don't don't and share have As they're per that's very a they that. really with Facebook. can't with But great represent strategies basically, Southeast And – plans private. We say. And

continue. We expect that to

Michael Kupinski

another TikTok was opportunity markets? American an TIPO there Cisneros that pick for your Latin is in up provider you Walter, Latin I'm wondering has there to in with America. just if

Walter Ulloa

they and they company Latin several I understand less, as American are been are handful new a emerging, probably in representing future. business don't in countries. years for the be There's And around they've emerging but And been the TikTok. hearing they've them – about we more of you'll a now now, know, a

Michael Kupinski

the that particularly the But terms further in maybe then, M&A there obviously, the in have – acquisition industry, an companies of that you acquiring Europe? I are And prospects, segment might you've marketplace. terms in in that developed one you. know Got where space? angle seeing opportunities in are other of in you most for this in are

Walter Ulloa

with Well, expanding future globe But terms in continue the for Michael, opportunities. there digital see at to continent in in search are We're, in footprint. lie discussions we now, right it to relates country every to what looking the opportunities of world as our might potential every some we opportunities.

Michael Kupinski

It you a like balance on the thoughts got off capital throwing lot you point? of probably cash dividend. the and you're allocation at of sheet, cash increase Walter, this lot a then, the could And are seemed what

thoughts authorization. prospect on kind the capital of of doing have even allocation share are general You your What your repurchase here? reinstating

Walter Ulloa

we equivalents million the we sheet. Michael, have securities and $XXX are fact Well, marketable cash the pleased on with about certainly that in balance

get that through reason was factors, the say existing fashion pandemic in several assist. And is pandemic the the from upon a us ability that to it. to had the a that with, of kind – we've we such we're I strong certainly cash the was with through certainly, the present emerged was time continue big cash work that all at pandemic fact to the doing that's get our acquisitions. cash but it would hold the certainly as relates us, We When helped

know, As dividends economic to We uncertainty shareholders. crisis. the concerned, you far our conservation – in given primarily prevailing reduction as the is to of the economic time prudent dividend we we at believe current the in thing a the this certainly each do. pandemic environment, the and future. is pandemic both dividend was quarter, to a initial important That that the mode consider reducing cash the and as it a remain the are could pandemic, of and the board the revisits dividend We response know and independent raising to that said,

Michael Kupinski

Got you. Thank That’s have. all I you.

Chris Young

you, Michael. Thank

Walter Ulloa

Thank you, Michael.

Operator

comes question Industry next Research. of proceed with Dix Our question. Capital your James from the line Please with

James Dix

Hey, Guys.

Just first, just been me. a cash flow on couple from guess, I certainly conversion. the free It's impressive.

really it the quarter, positive outlier. to almost seemed This be

expect quarter? mean, we the moderation how to some I this you for indicated expect of we're model something continue. EBITDA range of XX% as the conversion as flow free conversion? should in XX% But thinking or year, be next the Just we you should So Chris, nearly to seeing plus in that about more cash that we opposed

Chris Young

Yeah.

to think, I than we bill moderate anticipating. safe came it will it's tax quarter in third bit. little in a were The say the lighter a little

problem. pick I up it's talked slightly. wanted that that buy A related chip earlier to then, come lot Look Again, of So the we that look down the bit. tick equipment a up for CapEx for We slightly. a has also year. about And simply in available. isn't to to

$X.X million. but And it's up worked looking again, we of finish chip normalized early issue $X probably, year, at quarters line out. this point, compared year I to the about, next about for And we'll would CapEx to, around at talking were for at you're $X.X about million, more look a gets talk two million. So ago, a

James Dix

Okay.

and to more opposed a million of next? So year from year kind as to is this $X.X more next normalized

Chris Young

I year. I don't cash so. I think free it. think for But that's model flow next XX% out conversion

James Dix

to we the on And are which you of of just much changes, about at should how topic thinking for affiliation having then, out going end pulling next roughly year, of enough. be TV this just fair Okay, while the be advertising year? the

Chris Young

Sure.

about Orlando. So Washington you're Tampa, talking and

James Dix

Exactly.

Chris Young

Those million cash are over in in represents And $XX on January million going That affiliates to $XX X. that's flow. revenue. Univision about

growth So coming down. what's of that's the

as we what announced as to yet whatever stations for programming. But affiliations haven't there, that the we'll do We with far number. are are we do concerned offset going

point just of number. So starting that's the growth

James Dix

Okay, acquisitions, great. talk so deal. on gather, to Walter, I And then, in terms the you of the about want multiple that don't

just said as going where simply multiples you've of that kicking year? cash have been multiple EBITDA. release you press think the the on times a comment going got over you there certain base flow. was I the market? you been just previously, to for Cisneros, – three you're multiples on think, Any up. where they've generally the six think, at said in I years Could past sense where to those are more now

Walter Ulloa

ones that are somewhere is multiples for digital Sure, James. the they that voice. we by picked good And sense Chris' are and times. picked have it targeting it's it the way, to your businesses, up. XX between They hear My And and eight sense is up. the

James Dix

could deals next you Any pull be those? – okay. should Or imminent six that a have the sense on you be something we said digital something you Yeah, timing the to just the over than of have out on couple And then, Is that some months trigger could when your other or as that? more so? plate. is looking it

Walter Ulloa

we're on, for support globe said, complement all our No, or give businesses. working and it's the opportunities that we're can't line you like I digital time existing I – over looking a

broadcast we of Smadex, in mobile cases, connects marketing and – markets. to ad platform, solutions for local our our to markets, some – DSP in even proprietary international three is what One digital to in our important broadcast digital we've ad and outside real solutions, our you business have As small our offers lines QX. our a have got huge business. space, local and businesses growth very time call we then, of media And know, buying mid which it's transparent bidding for platform, mobile exchanges and that's us, and a

we the finally, business And our I platforms business, that where plus XX%. represent have support in we the based the people digital all that was most important then, think, And in major, world. are rep it international Barcelona.

it rounds out. that So

that's existing So of support to in broad opportunities terms the pretty a businesses. landscape looking for

James Dix

all Okay. And them? you're three of looking at

Walter Ulloa

Absolutely.

James Dix

curious on okay. the of has causing headwind a the terms platform. that potential their on up little apples Cisneros, the them changes, and as less from have Do in digital a could those about Facebook platform headwind any you're that markets? impact talked just that dynamic the what hearing you of the and less seeing in the then, a general the just Yeah, particular, iOS bit of just has And making I'm fundamentals moment, in penetration that impact business of especially at sense at because cause. internationally. to you're

Walter Ulloa

has the digital the launch certainly, lot XX.X, created controversy of ad Well, business. of iOS a within

less to the Latin of to have is the territories phones going the are to where through. our that about territories XX% and Apple something work low is it now we countries, Apple penetration other of have – We is particular believe America. in penetration exposure countries But operate. because in as it I our we and

adjustments We continue of, and but monitor seen any, that where something it's to I'll to. haven't impact, and we're we'll make immediate call we need it, aware well

James Dix

seeing, that the me. provide that increase the clients cutbacks services Latin in like some the traditional for that MediaDonuts anything some of? of international part that less opportunity to could assistance the provide Have are Okay. for America some they're or agencies some from in one you they're stepping in that heard heard some Cisneros I firm platform of and could that's one may And with then, that extent, could the actually, provide Asia. made type rep markets providing traditional have that agencies for specific demand a last from is some

Walter Ulloa

suggesting the call global providing You're are agencies I'll that more. it, major,

James Dix

and the support certain platforms Omnicoms to Yeah, like assistance WPPs, to In clients they're for back That's an for additional the cutting incentive yours. some their execution. their subsidiaries. potential look providing sales of markets, from staffing the some

Walter Ulloa

advertising know growing heard thing a the to continue our it – But It's and the specifically, possible will we business. and business we have it's in fastest do for that very is haven't way is certainly growing, years that good but heard come. that app many digital sector not for I

reducing surprise from firms that to ours. advertising within be their clients staff their looking like agencies support more major provide may no So and rep

James Dix

great. Alright, me. That’s Okay. for it

Chris Young

James. Thank you,

Walter Ulloa

James. Thanks

Operator

and the Walter back like turn Ladies I Thank no to there Ulloa. now further are at Mr. questions you. would to time. floor gentlemen, this

Walter Ulloa

of you Certainly, and fourth We operator. pleasure optimistic us in speak you. sharing a our remain of forward and of our your Entravision, XXXX. progress thank and call for you, Thank you Thank to support. we future the look March all with to on everyone, to it's for joining earnings us joining quarter about today

Operator

Ladies concludes you. gentlemen, Thank this teleconference. today's and

may you your participation. disconnect this your for lines Thank at time. You