Quebecor reported that its full-year earnings were up year-over-year.

The telecom and media company posted revenues of $5.64 billion, an increase of 3.8% compared to 2023. Cash flows from operating activities also rose by 17.6%, as did adjusted EBITDA, which increased by 5.8%.

In the fourth quarter, however, the company recorded a 0.4% decrease in revenues to $1.50 billion as compared to the same period in 2023. Cash flows from operating activities climbed 16.9%, with adjusted EBITDA also rising by 4.2%.

Revenues from the Telecommunications segment increased 3.9% year-over-year, but decreased 2.5% in the quarter. And while the Media section fell by 2.6% in the year, Sports and Entertainment was up 5.5%. Also increasing in the year were revenues from mobile services and equipment, which rose 15.9% due to the acquisition of Freedom and the growth of Videotron’s revenues.

On the TVA Group’s side, the company posted adjusted EBITDA of $11.1 million in 2024, a favorable variance of $16.6 million compared to the prior year. According to the report, TVA Network maintained a lead among over‑the‑air channels with a 23.5% market share. Programs such as Chanteurs masqués, which averaged more than 1.6 million viewers, and Sortez‑moi d’ici! and La Voix, with more than 1.5 million viewers each, which contributed to TVA Network’s boost.

Despite the continued decline in global ad revenues, Quebecor said it has been able to increase TVA’s performance thanks to the return of major productions to its studios and reduced operating expenses as a result of a restructuring plan – the company plans to bring TVA Group’s media, TV studio and newsroom teams under one office in Montreal.

Quebecor also attributes its overall results to the acquisition of Neo-OOH’s Canada-wide OOH advertising business last October. Through its OOH division, the company integrated the business into its Affichage Neo division, expanding its offering to more than 17,000 advertising faces across the country. QUB radio also expanded significantly last year, first moving to TV on the specialty channel QUB and then to radio on 99.5 FM. “Combined with a strong digital presence, these new platforms have grown QUB radio’s audience and amplified its impact on the Quebec media landscape,” said the company.

In addition, Freedom and Fizz announced the expansion of their service areas in several regions of British Columbia, Alberta and Manitoba, and Fizz announced the launch of Fizz TV, an all-digital TV service available to all Fizz Internet subscribers in Quebec. Fizz TV offers a select-and-pay model that allows users to create their own low-cost TV plan.