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Strong earnings for Corus

Toronto, Canada-based Corus Entertainment, which owns Nelvana Enterprises and the nation's top kidcaster YTV, enjoyed a profitable second quarter.Consolidated Q2 revenues were up 6% to US$150.9 million, while net income rang in at US$16.8 million, compared to a loss of US$56.7 million last year. Combined radio and TV revenues were up 6% for the quarter and 7% year-to-date.
April 3, 2007

Toronto, Canada-based Corus Entertainment, which owns Nelvana Enterprises and the nation’s top kidcaster YTV, enjoyed a profitable second quarter.

Consolidated Q2 revenues were up 6% to US$150.9 million, while net income rang in at US$16.8 million, compared to a loss of US$56.7 million last year. Combined radio and TV revenues were up 6% for the quarter and 7% year-to-date.

Corus Television accounted for the lion’s share of the growth, with ad revenue shooting up 14% to bring in US$86.8 million. Meanwhile, Corus Content revenues grew by 15% to US$14.9 million year-to-date.

About The Author
Gary Rusak is a freelance writer based in Toronto. He has covered the kids entertainment industry for the last decade with a special interest in licensing, retail and consumer products. You can reach him at garyrusak@gmail.com

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