TV ads up, radio down at Astral

The mediaco's second quarter earnings are up 24% 'fuelled by a gradually improving economy,' says Astral CEO Ian Greenberg.

An improving economy is benefiting Astral Media, as stronger TV and outdoor ad revenues offset a downtick in radio station ad sales.

The Montreal-based broadcaster saw second-quarter earnings rise 24% to $33.6 million, on overall revenue up 4% to $218.3 million. TV ad and subscriber revenue jumped 6% to $129.4 million, and outdoor ad revenue rose 23% to $14.9 million, against radio revenue slipping 2% to $73.9 million.

Astral CEO Ian Greenberg welcomed ‘increased activity in our advertising business fuelled by a gradually improving economy’ during an analyst call. After launching HBO Canada to complement its Movie Network service, Astral now has 1.81 million pay-TV subscribers.

From Playback Daily