Corus’s Q2 2025 financial results show a 10% decrease in consolidated revenue, totaling $270.4 million for the quarter. For the six months ending Feb. 28, consolidated revenue declined 11% to $597.5 million.
The company experienced significant decreases across various segments, including a 9% decline in TV revenue and a 14% drop in radio revenue compared to the same period last year. TV subscriber revenue also fell 5% during the quarter. Furthermore, the advertising segment saw a 13% decrease to $146.8 million, with TV advertising revenue declining 13% to $129.5 million. On a consolidated basis, subscriber revenue decreased 5%, while distribution, production and other revenue declined by 14% compared to Q2 2024.
“Our television advertising revenue was modestly ahead of our outlook for the second quarter, building on the strength of our programming and audiences. At the same time, we recognize that the industry landscape remains challenging with limited visibility,” said John Gossling, co-chief executive officer and chief financial officer. “As such, importantly, we have taken significant steps to progress our capital and debt plan, and our updated credit facility provides enhanced stability as we pursue further right-sizing initiatives and targeted growth opportunities to create a more sustainable future.”
Corus, however, saw a bright spot in the quarter, with notable gains in TV and streaming viewership.
Global TV reported significant audience growth this season, with an 11% increase in full-day viewership and a 25% boost in primetime audiences, thanks to a “robust winter and spring programming lineup.” Home Network and Flavour Network also led the specialty lifestyle rankings. Since launching in December 2024, the channels have attracted nearly 11 million Canadian viewers. The company also saw an 18% increase in total monthly streaming hours across StackTV, Global TV app and Pluto TV.
For the the third quarter, Corus said it expects challenges due to an oversupply of premium digital video inventory from international competitors and weak linear advertising demand, resulting in a decline in TV ad revenue. To offset this, the company plans to implement additional cost-cutting measures, aiming to reduce general and administrative expenses.
The broadcaster has also unveiled its spring 2025 lineup for Home Network, featuring new seasons of its original series Renovation Resort and Scott’s Vacation House Rules. Spring premieres also include new episodes of House Hunters, Interior Design Masters, George Clarke’s Amazing Spaces and new series Empty Nest Refresh. W Network is also set to premiere new series, including comedies Laid and Small Town, Big Story. Meanwhile, Hallmark Channel’s spring 2025 lineup features family drama The Chicken Sisters and unscripted series Small Town Setup.
