Subs, ads lift quarter for Alliance Atlantis

Revs increase 63.3% in first quarter

TORONTO — Subscriber and ad revenue in the broadcast division led Toronto-based Alliance Atlantis to a boffo first quarter, marked by a revenue increase of 63.3% and a fourfold jump in net earnings to C$6.1 million ($3.9 million.)

Net earnings for the quarter ended June 30 were $3.9 million, up markedly from $900,000 a year ago, on revenues of $112.3 million.

Besides the “strong, sustained growth” in sub and ad rev, company attributed the increase to a strong release slate from the motion picture unit’s domestic theatrical and video distribution operations and from Momentum Pictures in the U.K. as well as more production deliveries from the television arm.

“This quarter’s earnings growth was driven by outstanding performance and strong contribution from each of our three operating groups” chairman and CEO Michael MacMillan said. “During the quarter, we also achieved a number of key business initiatives which have positioned us for continued growth.”

The initiatives include carriage agreements for seven new digital channels — Showcase Action, Showcase Diva, Discovery Health Channel Canada, National Geographic Channel, BBC Canada, BBC Kids and the Independent Film Channel Canada (subject to regulatory approval), all of which are scheduled to launch next month.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety