MONTREAL – Quebecor’s content division TVA Group today reported a slight dip in operating revenues to $125.6 million in the third quarter of 2019, a 1.4% decrease over the same period in 2018.
Consolidated adjusted EBITDA at the broadcaster, publisher and producer came in at $31.1 million for the quarter ended September 30th, a $3 million increase over Q3 2018. The $21.45 million in adjusted EBITDA broadcasting segment, a $4.5 million increase was mainly attributable to the acquisition of the Évasion and Zeste channels and a 25% increase in the adjusted EBITDA of the other specialty channels, including a 13.6% increase at TVA Sports, says the press release.
EBITDA in the company’s film production and audiovisual services division fell by $2.6 million to $6.48 million due to a decrease in soundstage, mobile and equipment rentals, and postproduction, partially offset by the improved profitability of visual effects, which registered increased volume, said the company release.
“We are pleased with our results for the third quarter of our financial year,” said division president France Lauzière. “The addition of the Évasion and Zeste channels and the synergies captured as a result of the acquisition continued to make a positive contribution to our specialty channel business… TVA Sports continued to grow audience with a 0.4-point jump in market share during the quarter, clear evidence that viewers recognize the quality of its programming.”
Of course, this wouldn’t be a Quebecor statement without a shot across the Bell bow. “The strong performance of our specialty channels, despite the fact that they have been short-changed for years on their fair market value, is worthy of note,” added Lauziere in the release.
“The subscription fees for our channels ought to be fair and reflect their audience share per subscriber. Bell must acknowledge the issues facing our entire industry and recognize the fair value of our channels. We will continue making representations on this issue to regulatory and government authorities. We are pleased to report that we have renewed some distribution agreements with cable operators that recognize the fair market value of our channels.”
