Drop in operating expenses boosts profits in film, TV, post in 2007

OTTAWA – A reduction in operating expenses helped Canada's film, television and video post-production industry to post higher profit margins in 2007, said Stats Canada.The industry reported total operating revenues of $820 million, virtually unchanged from 2006. However, firms reduced their total operating expenses by 2.2% to $752 million which helped push profit margins to 8.4% in 2007, up from 6.5% the previous year.Ontario firms accounted for 47.8% of total operating revenues in 2007, followed by Quebec firms at 39.4%, and British Columbia firms at 11.1%. Firms in British Columbia posted an operating loss of 2.2%. The cost of goods...