MONTREAL – While Cogeco Inc.’s radio division (RYTHME FM) continues to grow, the company’s TV broadcast outlet, TQS, struggled through 2005.
However, with new shows, the company is hoping to turn TQS around and has invested in some populist (some might say low-brow) reality shows. All part of the plan, however. “In television, TQS’s commitment to its ‘black sheep’ positioning is stronger than ever. The channel’s bold programming is blazing new trails for conventional television in an environment that is fiercely competitive and constantly changing,” reads the company’s third quarter results press release.
Loft Story II (a French Big Brother), le Bachelor and (Donnez au Suivant “pay it forward”) are some of the home-grown prime time programming TQS has developed.
If you really want to take a look at what TQS might mean by “black sheep”, however, click here (warning – may not be safe for all-office viewing).
On the radio side, revenues are up sharply thanks to solid ratings for the group’s stations, which are rising in their respective markets. RYTHME FM Montréal’s number one position was confirmed in BBM surveys conducted this past summer.
Cogeco’s media division brought in $121.3 million in 2005, down 0.3% from fiscal 2004. Operating income was off by 35.2% to 6.8 million. Operating costs (those programming investments) rose just 3% on the year to $114.5 million, but were way up in the fourth quarter, by 36% to $25.7 million.
Radio and television advertising revenues rose by 39.4% and 6.2% respectively in the fourth quarter. The increase in radio is mainly attributable to the performance of the RYTHME FM station in Montréal, while the increase on the television side is attributable to a better programming grid in the fourth quarter compared to the same period last year.
Cogeco is the majority owner of TQS (60%), with Bell Globemedia (at 40%) as the minority shareholder.
For the full year-end Cogeco release, click here.
