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Corus’s Q4 revenues drop by 4%

Corus Entertainment's revenues dropped by 4% in Q4, while fiscal year-end results showed a 2% decrease to US$619 million. A bright spot was its licensing and distribution revenues, largely driven by Nelvana Enterprises.
October 23, 2015

Canada’s Corus Entertainment reported consolidated revenues of US$147 million for its fourth quarter on Thursday, representing a 4% drop from US$153 million for the same three-month period a year prior.

Consolidated segment profit for the fourth quarter also dropped by 5% for the three months ending August 31, from US$44.25 million to US$41.75 million. On the television side, specialty advertising revenues were down 10% in the latest quarter. Subscriber revenues also fell by 1%. Overall, the TV segment profit declined by 8% for the quarter. Merchandising, distribution and other revenues, however, increased by 1% for Q4.

Corus Entertainment also reported its year-end results on Thursday. Consolidated revenues for fiscal 2015 were down by 2% from the year prior, from US$632 million to US$619 million. Consolidated segment profit for the fiscal year was US$210.5 million, down by 4% from US$219.9 million.

In the television segment, specialty advertising revenues decreased by 6% for the year, with radio segment revenues also falling by 6%. Year-end subscriber revenues for specialty TV, however, increased by 2% for the year overall, with merchandising, distribution, and other revenues increasing by 7%. Another bright spot on an annual basis was Corus’s free cash flow, which hit a record US$152.8 million for fiscal 2015, representing a 15% increase over the year before.

With 30 television brands in its repertoire, Corus is a central figure in the Canadian entertainment landscape. A big part of its stature comes from its domination of kids TV programming, with leading kids channels such as Cartoon Network Canada, Disney Channel Canada, Nickelodeon Canada, Teletoon, Treehouse, YTV, and French-language channels La chaîne Disney and Télétoon.

With files from Val Maloney and Patrick Callan.

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