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Corus continues to grow revenues

Ad sales momentum at Corus Entertainment continues, as the Canadian radio and TV broadcaster posted a first-quarter bump in revenues of 8%, generating $240.7 million in sales in the first three months of fiscal 2011.
January 11, 2011

Ad sales momentum at Corus Entertainment continues, as the Canadian radio and TV broadcaster posted a first-quarter bump in revenues of 8%, generating $240.7 million in sales in the first three months of fiscal 2011.

At the same time, Corus saw its earnings to November 30 fall to $46.2 million, against $73.9 million in 2009 when the broadcaster posted one-time profit gains, including a $16.2 million reversal of regulatory fees and a $14.2 million recovery due to income tax rate changes.

On the revenue side, subscriber sales jumped 9% and ad revenue were up by 8% during the latest quarter.

TV revenues shot up 11% in Q1. And in the Kids Television segment, sales rose to $78 million for the quarter, up from $68.5 million a year earlier, and profits for the same segment sat at $41.4 million versus $33.3 million over the same period last year.

‘Our advertising sales momentum continued in our first quarter and, in combination with our cost control initiatives, we delivered double-digit segment profit growth,’ John Cassaday, president and CEO of Corus Entertainment, said ahead of an analyst call Tuesday afternoon.

From Playback Online.

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