MONTREAL – While net income attributable to shareholders rose to $9.2 million in the second quarter of 2014, ended June 30th compared to $7 million in the same quarter last year for Quebecor’s television and publishing division TVA Group, TV ad sales continue their downward trend.
The television segment generated operating income of $18 million, a 6% drop over last year’s Q2 due primarily to a 3.1% decline in ad revenues for the main TVA network, which is still the ratings leader in the Quebec market. Thanks to an 11.6% increase in subscription revenue, however, the operating loss at the company’s specialty TV division decreased.
Overall in the first half, TV revenues are down 5.6% compared to the first two quarters of 2013 to $185.2 million.
"Consolidated financial results for the second quarter of 2014 are stable, although we are again seeing a downward trend in the television segment's advertising revenues,” said CEO Pierre Dion in the press release. “Despite strong management of our operating expenses, adjusted operating income in the television segment decreased over the same quarter of 2013. With its high quality programming, TVA Network remained ahead of its conventional rivals with a 21.4% market shares. Our specialty services also posted excellent ratings, giving them a combined increase of 1.1% share in the quarter. We are very excited about the upcoming start of the National Hockey League season and are proud to see viewers' growing interest in TVA Sports.”
