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

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.

 

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