Money-21
Screen

Corus posts higher Q1 earnings on TV revenue hike

A rise in TV ad revenue helped Toronto, Canada's Corus Entertainment post higher first quarter earnings on Tuesday.
January 11, 2012

A rise in TV ad revenue helped Toronto, Canada’s Corus Entertainment post higher first quarter earnings on Tuesday.

The broadcaster, which owns and operates Canuck kidnets YTV, Treehouse and Nickelodeon Canada, recorded a profit of US$49.5 million, up from earnings of US$45.3 million in 2010.

First quarter revenue was up 7% to US$232.3 million, led by TV revenue rising 10% to US$181 million, due in part to strong women’s channel ad sales.

Corus’ kids division, which includes Nelvana Enterprises, also recorded strong revenue growth, in part from strong Beyblade toy sales.

The radio division, on the other hand, saw revenue fall 5% to US$50.8 million after Corus sold radio stations in Quebec to Cogeco.

Last week, Corus announced the launch date for its new ABC Spark Channel, targeting women under 35.

Story provided by playback.com

About The Author

Menu

Brand Menu