Also announces STACKTV to launch on Rogers Ignite TV and SmartStream, and 250+ hours of new sales
TORONTO – Corus Entertainment has reached yet another new milestone of over 725,000 paying subscribers to its STACKTV, Nick+ and other streaming platforms, increased from over 675,000 on Oct. 21, 2021, according to a press release announcing the company’s first quarter 2022 results today.
Subscriber revenue was reported to be $128 million for the quarter ended Nov. 30, an increase of 3% compared to the same quarter in 2021.
Revenue for the company overall was up 10% to $464 million compared to the same quarter the previous year. Radio revenue was up 3% to $29 million and television revenue was up 11% to $435 million.
Television advertising revenue was reported to be $285 million, an increase of 16% from the same quarter the previous year, and merchandising, distribution and other, had $22 million in revenue, which is unchanged from Q1 2021. Overall advertising revenue was reported to be $313 million and overall merchandising, distribution and other was at $24 million.
In addition to releasing its Q1 results, Corus announced it plans to expand STACKTV onto Rogers’s Ignite TV and SmartStream platforms. “This marks the first time that STACKTV will be offered as a stand-alone streaming channels bundle through a traditional distribution partner,” the press release says.
“We have delivered a strong start to the year with impressive double-digit revenue growth and notable free cash flow,” said Doug Murphy, president and CEO of Corus in the press release.
“Television revenue in Q1 surpassed pre-pandemic levels, benefiting from Global TV’s winning Fall schedule and robust advertising demand. Importantly, we have demonstrated that the ‘re-aggregation of our channels business on streaming platforms’ offers long-term resiliency and growth potential, with yet another quarter of streaming subscriber additions and the planned expansion of STACKTV onto Rogers Ignite TV and SmartStream platforms.”
Corus further announced today in a separate press release, more than 250 hours of new sales to broadcasters in Germany, Poland, France and the UK, as well as more deals secured for French Canada in the first quarter.
Broadcasters that have picked up series from Corus include Discovery in Germany, Canal+ in Poland, 6TER in France, and ITV and Discovery in the UK.
Additionally, Quebecor Content has acquired seven Corus series, and Bell Media has picked up two for French Canada. “Sales were brokered by Rita Carbone Fleury, worldwide sales lead for Corus Studios,” according to the press release.
“We are starting the new year seeing a growing global appetite for Corus Studios lifestyle, factual and unscripted content,” said Lisa Godfrey, senior vice-president of original content and Corus Studios in the release.
“As we expand our current productions and solidify our slate of new series to come later this year, we’re delivering on our commitment to offer even more compelling content to buyers.”
