TVA revenue decreases; CEO says ad outlook is bleak, blaming foreign streamers, Radio-Canada

MONTREAL – TVA Group, a subsidiary of Quebecor Media, announced yesterday its financial results for the second quarter of 2022, which show revenues decreased by $12 million year-over-year to $147.5 million. TVA also reported consolidated adjusted EBITDA was $3.2 million, a $10.7 million unfavourable variance compared to Q2 2021. In its broadcasting segment, TVA reported $149,000 in negative adjusted EBITDA. This is “a $6,433,000 unfavourable variance resulting largely from the decreased profitability of TVA Network, which continued its strategy of increasing investment in content, partially offset by the improved profitability of “TVA Sports,” which had to absorb significant content cost...