MONTREAL – Bell Globemedia’s revenues for the third quarter ended September 30th increased by 10.9% over the same period last year to reach $335 million. The company’s operating income increased by 26% to $29 million.
Revenue growth at the BCE division which owns and operates CTV, TSN, Animal Planet and The Globe and Mail, among numerous other assets, “was driven by double-digit growth in specialty television advertising and by an overall improvement in the print advertising market,” said the company. “CTV’s strong programming schedule once again drove top ratings. For the summer season, CTV held 10 of the top 10 and 15 of the top 20 programs in Canada. Canadian Idol was once again the top television program during the summer season in all of its demographics."
On a year-to-date basis, Bell Globemedia’s revenues grew 7.4% to $1.09 billion. Total advertising revenues grew by 11.5% this quarter and by 8% year-to-date. It’s operating income grew by 37% on a year-to-date basis, reflecting revenue gains and lower sports specialty programming costs due to the NHL lockout.
Strong growth in advertising revenues in conventional and specialty television helped to offset the loss of advertising from hockey broadcasts on TSN and RDS. Bell Globemedia’s subscriber revenues grew by 8.2% this quarter and by 5.9% year-to-date, reflecting strong specialty channel growth and increased online subscription at The Globe and Mail, as well as an increase in the home delivery rate for The Globe and Mail implemented at the beginning of 2005.
