An increase in subscription revenues and production services gave Quebecor a slight boost in its media revenue for Q2, despite a decline in ad revenue.

The company reported $184.4 million in media revenue for the quarter, a 2.3% year-over-year increase from $180.3 million in Q2 2023.

The increase was due to a number of factors, according to Quebecor. The company saw a 21% increase in subscription revenue thanks to the retroactive impact of a change in carriage fees for cable news channel LCN and a 4.9% increase in film production and audiovisual service revenue.

Those gains were offset by a reduction in distribution and production revenue, as well as a 9.6% decrease in ad revenues at TVA and its specialty channels.

“The television business continued to suffer from declining advertising revenues and the major challenges facing the entire media industry,” said Quebecor president and CEO Pierre Karl Péladeau in a statement.

“Excluding the one‑time retroactive adjustment to carriage fees, adjusted EBITDA from television activities was negative. We continue our sustained efforts to obtain fair market value for all our specialty channels. We are also counting on the upcoming CRTC arbitration decision on carriage fees for TVA Sports to ensure that we receive fair value from Bell TV, which we have been demanding for years,” he continued.

Péladeau added that the company is starting to see savings results from its reorganization plan at TVA, which saw a 31% reduction in its workforce and the end of its in-house production work.

Overall, Quebecor reported $1.39 million in revenue for Q2, remaining relatively steady compared to the same period in 2023 at $1.4 billion. Telecommunications accounted for the majority of its revenue at $1.19 billion, down slightly year-over-year from $1.2 billion. Adjusted EBITDA hit $624.9 million for the quarter, up 3.3% from Q2 2023, while adjusted cash flow saw a 1.2% dip to $449.7 million compared to last year’s Q2.

This story originally appeared on PlaybackOnline.