This week two broadcasters reported that their commercial revenues are
on the rise. Corus Entertainment’s revenues are up 12% over last year,
including a 14% jump in the third quarter. Astral Media reported a 9%
jump in third-quarter revenues.
Canadian Press reports:
“Corus Entertainment Inc. had a $31.4-million profit for its fiscal third quarter, as the broadcaster’s revenues increased 12% over last year with the Canadian economy’s recovery from recession.
“Corus said revenue in the third quarter increased to $218.4 million, with its specialty TV channels rising by 14% to $147 million. The company benefited from improvements in ad sales, helped by an improving general economy and a recovery in the auto sector, a major corporate advertiser.
“Earlier streamlining efforts at the company’s broadcast operations also reduced costs and boosted the bottom line.”
In a separate article, Canadian Press reports:
“Astral Media Inc. said today it increased advertising revenues and pay-TV subscribers, benefiting from the economic recovery and boosting profit by 9% in the third quarter.
President and CEO Ian Greenberg said it’s Astral’s 55th consecutive quarter of profitable growth with its television, radio and outdoor advertising units all increasing their revenues.
” “I am particularly pleased by the fact that this is the first time since the beginning of the recession in early fiscal 2009 that all three of our business units are reporting year-over-year increases for the quarter, each contributing strongly to the growth of our results at all levels,” he told analysts.
“Astral said its profit increased to $48.5 million or 86 cents per share, compared with $44.3 million or 78 cents a year ago.”
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