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| CRTC releases financial results for private conventional television |
| Posted
on Wednesday, February 11, 2009 - 05:52 PM |
The Canadian Radio-television and Telecommunications Commission (CRTC) released statistical and financial summaries for Canada’s private conventional television stations. The report provides information on the sector’s profitability, revenues and expenditures for the broadcast year ending on August 31, 2008. It also contains historical data going back to 2004.
Profitability
When compared with 2007, revenues for private conventional television stations decreased by 1.5% last year while expenses increased by 4%. This resulted in profits before interest and taxes (PBIT) of $8 million, a figure well below the $112.9 million and $233.4 million reported in 2007 and 2004, respectively.
Revenues and expenses
In 2008, private broadcasters generated $2.1 billion in total revenue. Coming in at $387.3 million, revenues from the sale of local advertising remained almost at the same level as the previous year. National advertising sales decreased from $1.52 billion to $1.47 billion in one year.
Operating expenses increased to $2.1 billion in 2008, with the acquisition and production of programming representing 71.5% of all expenses. Investments in Canadian programming remained essentially unchanged at $619.6 million, of which $146 million was paid to independent producers.
However, private broadcasters spent $775.2 million on foreign programming in 2008, up 7.4% from $721.9 million in 2007.
Canadian programming
Spending on Canadian programming included $88.3 million for drama, $90.4 million for general interest programming, $323 million for news programs, $67.2 million for other information programs, $24.7 million for musical and variety shows, $7.5 million for sports programs, and $16.6 million for game shows.
Employment
In 2008, private conventional television stations employed 7,402 people and paid a total of $576.9 million in salaries. In comparison, this sector employed 7,873 people and paid a total of $594.2 million in salaries in 2007.
CRTC reports
Each year, the Commission compiles financial data on the broadcasting industry to produce this report, which also includes data on the Canadian Broadcasting Corporation. In the coming months, the CRTC will publish similar reports on: broadcasting distribution; specialty, pay and pay-per-view television and video-on-demand services; and radio. These reports allow interested parties to stay informed of the Canada broadcasting industry’s financial situation.
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