Total operating revenues for the Canadian television broadcasting sector fell 4.8 per cent from 2016 to $7.1 billion in 2017, according to Statistics Canada.
In a report released on Monday, the federal agency said profits before interest and taxes rose 10.5 per cent to $940.7 million in 2017.
“The increase in profits before interest and taxes is the result of a 6.8 per cent decrease in operating expenses, which fell to $6.2 billion in 2017,” it said.
“All revenue categories were down in 2017. Air time sales fell 4.9 per cent to $3.0 billion in 2017. Subscription revenues fell by 1.3 per cent or $39 million over the same period. This was the first time that subscription revenues have fallen in the television broadcasting sector. Moreover, public and private subsidies were down 14.2 per cent.”
Respected business writer Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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