Canadian media conglomerate Corus Entertainment saw profits rise 14% within its television division this year, the company posted in its fourth quarter and year-end results.
Corus’ overall quarterly earnings were US$29.37 million, compared to $4.2 million last year. Revenues for the period were US$201 million, up 7% from US$188.4 million last year.
The company said tight cost controls within its radio division, coupled with “exceptional “revenue and segment profit growth in television, drove the boost in numbers.
The TV division, which houses such kid and youth-friendly multimedia brands as Treehouse, Teletoon and YTV, saw a 6% drop in specialty ad revenues during the quarter but still drew profits of US$53 million for the three-month period ended August 31 (specialty ad sales increased overall by 11% for fiscal 2011). Television segment profits totaled US$260 million for the year – up from last year’s profits of US$228 million – and TV revenues for the year totaled US$633 million, up from US$578 million a year ago, driven in part by a 6% rise in subscriber revenues.
Within the kids TV unit, revenues topped US$70.4 million during the quarter and total revenues for the year were US$280.5 million over US$242 million in 2010.
While specialty TV and radio drives the majority of Corus’ business, the company has additional assets in pay TV, broadcasting, children’s book publishing and animation.