Corus, Astral climbing high thanks to ad rev
Canuck TV and radio companies Corus Entertainment and Astral Media reported boffo financial results Thursday thanks to a boost in advertising revenue.
Toronto-based Corus’ earnings for the quarter ended Nov. 30 were up 8% to C$31.4 million ($27 million) on revenue that also climbed 8% to $167.9 million.
Corus owns specialty channels YTV, Treehouse TV and W Network and holds a controlling interest in Country Music Television and Telelatino and a minority interest in two more. Company also has premium TV services Movie Central and Encore Avenue and digital webs Scream, Discovery Kids Canada and the Documentary Channel.
Pay TV channels upped subscribers by 2.5% to 767,000 households, which the company attributed to successful marketing for HBO series “Rome.”
Radio revenue for the quarter climbed 10% to $62.2 million.
Revs at the content division dipped 17% to $13.5 million.
Company noted that 17 completed episodes were delivered during the quarter compared with 52 a year earlier.
Montreal-based Astral Media reported net earnings up 17% to $26 million for the quarter ended Nov. 30, compared to the same period a year earlier. Revenues surged 10% to $132 million, while cash flow was up 15% to $42 million.
Astral’s pay TV stations reported a 6% increase in subscribers during a quarter in which Astral launched Cinepop, its French-language retro-movie service.
Its specialty TV channels saw advertising revenue rise 12%, and the radio group posted a 12% revenue increase.
Astral owns all or a part of a slew of English and French pay and specialty channels, including TMN — the Movie Network and Teletoon.