MONTREAL – TVA Group Inc. announced today its operating revenues increased $31.2 million in the third quarter of 2021 to $150.7 million, compared to the same quarter last year.
The company, which is a subsidiary of Quebecor Media, reported a consolidated adjusted EBITDA of $35.5 million, a $12.1 million favourable variance from Q3 2020.
TVA’s broadcasting segment reported a consolidated adjusted EBITDA of $21.5 million, a $4.6 million favourable variance. TVA Sports reported an increase in adjusted EBITDA, which was partially offset by a decrease at TVA Network, according to a company press release.
“We are pleased with the results for the third quarter of our financial year, which reflect growing activity in most of our segments,” said Pierre Karl Péladeau, president and CEO of Quebecor and acting president and CEO of TVA Group, in the press release.
“For the third straight quarter, advertising revenues at TVA Network and our specialty channels were up over the same quarter of last year, but they also rose 22% compared with the same quarter of 2019, which was not affected by the public health crisis.”
Péladeau indicates that because of this, TVA “can continue and increase our investments in content, a strategy that is reflected in our fall programming, with a wealth of new shows, original productions and exclusive content for our digital platforms.”
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