Corus ends fiscal with big boosts in ad revenue

The company also reported that new approaches to selling TV ads now make up 34% of the revenue they generate.

Corus’ recovery continued in Q4 as major growth in TV and radio advertising helped push revenue for the fiscal year into the black.

The company reported a 13% increase in revenue for the three months ending Aug. 31, resulting in a 2% growth for the fiscal year as its recovery for pandemic-related decreases in advertising spending continues.

Those earnings were driven in part by a 12% growth in revenue for its TV division in Q4, with 3% growth for the fiscal year. Television advertising revenue, the biggest driver of earnings for the segment, was up a big 21% in Q4, leading to a 2% lift for the full year. TV subscriber revenue was up 3% in quarter (1% for fiscal), while merchandising and distribution revenue was up 9% (13% for the quarter).

Corus also reported that “optimized advertising revenue” – representing new ways the company is selling TV advertising, like by audience segments or through its Cynch automated platform – represented 34% of TV ad revenue in Q4, a 100% increase from the year prior.

Revenue in the radio segment, which is largely made up of advertising, was up by 32% compared to last quarter, though the slow recovery in radio spending throughout 2021 meant the segment still ended fiscal at a 6% loss.

The financial results come on the heels of several major announcements from Corus, namely the integrated marketing partnership to promote the launch of Discovery+ in Canada, subsidiary Nelvana getting international distribution for The Hardy Boys on Disney+ and multiple international licensing sales with Hulu for series including Project Bakeover, Salvage Kings and Worst to First.