BCE's Bell rings up gain
Ad revs from CTV, other TV channels up 21%
Revenues at Bell Globemedia, which includes the CTV Network and a host of specialty channels, increased 9.5% to C$357 million ($258 million) for the quarter ended June 30 and revenue for the six-month period increased from $461 million last year to $500 million this year.
The reason for the growth was the strong advertising revenue from CTV and BCE's other television channels, with advertising revenue up 21%.
Ad sales were up thanks to a more robust market in Canada and the boffo ratings performance of CTV, which had 17 of the 20 most-watched shows as of June 30.
Cash flow in the quarter increased to $56 million, up from $42 million in the same period last year; for the six months it was $82 million, compared with $66 million the previous year.
Net earnings at Bell Globemedia were $11 million for the quarter, up from $8 million a year earlier, and $9.4 million for the half year, up from $8.7 million in the first six months of last year.
Revenue at Bell Expressvu was $138 million for the second quarter, compared with $112 million in the same quarter last year. Six-month revenue was $266 million, up from $221 million the previous year.
The increase was due to a 14% increase in subscribers and price hikes. Total revenue for BCE was $3.5 billion and cash flow was $1.4 billion in the quarter, essentially flat compared with the previous year.
Print advertising revenue only grew 4.3% at Bell Globemedia, which owns the Globe and Mail newspaper.
