Corus posts higher Q1 earnings on TV revenue hike

Strong ad sales for its women's specialty channels like W Network helped the broadcaster record a rise in revenue and overall profit.
Money

A rise in TV ad revenue helped Corus Entertainment post higher first-quarter earnings on Tuesday.

The Toronto-based broadcaster recorded a profit of $50.5 million, up from earnings of $46.2 million in 2010.

First-quarter revenue was up 7% to $236.9 million, led by TV revenue rising 10% to $185 million, due in part to strong women’s channel ad sales.

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

The radio division, on the other hand, saw revenue fall 5% to $51.8 million after Corus sold radio stations in Quebec to Cogeco.

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

From Playback Daily