MONTREAL – TVA Group Inc. announced today its fourth quarter results, which show operating revenues increased by $24.3 million to $171.9 million compared to the same quarter in 2020.
TVA, which is a subsidiary of Quebecor, also reported consolidated adjusted EBITDA was $28.7 million for the quarter ended Dec. 31, a $17.4 million “unfavourable variance from the same quarter in 2020,” a press release says.
The company’s broadcasting segment reported adjusted EBITDA was $20.5 million in Q4 2021, a $16.2 million unfavourable variance from the same quarter in 2020.
This was due both to a decrease in the adjusted EBITDA at TVA Sports caused by the National Hockey League starting the “2021-2022 season on a normal schedule, whereas for the same period of 2020, the start of the 2020-2021 season had been postponed to 2021, and the decrease in adjusted EBITDA at TVA Network,” a press release explains.
Advertising revenue, however, did increase in Q4 2021.
“For the fourth straight quarter, advertising revenues at TVA Network and our specialty channels were up over the same quarter of last year, but they also rose 19% compared with the same quarter of 2019, which was not affected by the public health crisis,” said Pierre Karl Péladeau, acting president and CEO of TVA Group, in the release.
“This positive situation allowed us to offset some of our additional spending on content to deal with growing competition amid the proliferation of content on both traditional and digital platforms.”
Péladeau also noted TVA+, TVA’s digital destination, has continued to grow in popularity.
“In addition to helping boost our revenues, it enables us to reach even more Quebecers and bring them together around an ever-growing array of compelling content,” he said.
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