Hemisphere Media Group, Inc. (NASDAQ:HMTV) ("Hemisphere" or the "Company"), the only publicly traded pure-play U.S. media company targeting the high growth Spanish-language television and cable networks business in the U.S. and Latin America, today announced financial results for the third quarter ended September 30, 2016. Alan Sokol, CEO of Hemisphere, stated, "Our core business continued to perform well in the third quarter, a testament to the attractiveness of our differentiated business model serving the rapidly growing U.S. Hispanic and Latin American markets. Despite lighter than expected political spending in Puerto Rico, we continued to deliver solid top line revenue and earnings growth. Retransmission and subscriber fees grew meaningfully across all of our networks and we achieved strong organic subscriber growth, as well as some important new launches in the quarter. Although political spending in Puerto Rico will finish significantly below both our estimates and 2012 results, based on our strong underlying year-to-date performance and expectations for the remainder of the year, we expect to achieve our 2016 guidance. "We are also excited to announce our new partnership with Lionsgate and Univision to launch the leading Spanish-language premium movie subscription video-on-demand (SVOD) service. The service is the first major SVOD movie service designed specifically for the tens of millions of Spanish-speaking and bilingual movie lovers in the U.S. The service will offer an unparalleled collection of great content from Hemisphere and our partners, and a compelling way for the growing number of Hispanic households in the U.S. that do not otherwise subscribe to pay television to digitally access this highly coveted product." Net revenues were $33.1 million for the three months ended September 30, 2016, an increase of 5%, as compared to net revenues of $31.5 million for the comparable period in 2015. Net revenues were $99.1 million for the nine months ended September 30, 2016, an increase of 6%, as compared to net revenues of $93.6 million for the comparable period in 2015. These increases, for both the three and nine month periods, were due to growth in subscriber and retransmission fees. The increase in the three month period was offset in part by a decline in advertising revenue, as WAPA was negatively impacted by a shift of advertising dollars to telecasts of the summer Olympics. The increase in the nine month period was also driven by political advertising. Excluding political advertising revenue, net revenues increased $1.5 million, or 5%, for the three months ended September 30, 2016, and increased $4.7 million, or 5%, for the nine months ended September 30, 2016.