Q2 2025 Corus Entertainment Inc Earnings Call Transcript
Key Points
- Corus Entertainment Inc (CJREF) successfully amended and extended its credit facility, providing improved terms and financial flexibility.
- The company reported a 12% growth in total minutes viewed for Global News across both broadcast and streaming platforms.
- Corus' specialty networks, Home Network and Flavour Network, have become the number one and number two specialty lifestyle networks in Canada.
- The company's streaming portfolio experienced its strongest Q2 ever, with an 18% increase in streamed content over the previous year.
- Corus has implemented significant cost-saving initiatives, resulting in a 12% reduction in G&A expenses and a 15% decrease in employee costs.
- Consolidated revenue for the quarter decreased by 10% compared to the prior year, primarily due to lower television advertising demand and subscription revenue.
- The company is experiencing challenges in its specialty portfolio due to an oversupply of digital video inventory and lower advertising demand on linear television.
- Consolidated segment profit margins fell to 6% from 18% last year, reflecting the impact of lower revenue and increased amortization of program rights.
- Corus anticipates a mid-teens percentage decline in television advertising revenue for Q3 of fiscal 2025 due to oversupply and potential economic impacts.
- The radio segment saw a 14% decrease in revenue due to lower advertising demand and audience declines, although cost containment measures improved profit margins.
Good morning. My name is Joel and I will be your conference operator today. At this time, I would like to welcome everyone to the Corus Entertainment Q2 2025 analyst and investor conference call. (Operator Instructions)
Thank you. As a reminder, this call is being recorded. I will now turn the call over to Mr. John Gossling, Co-CEO and CFO of Corus Entertainment. Mr. Gossling, you may begin your conference.
Thanks very much, Joel, and good morning, everyone. Welcome to Corus Entertainment's fiscal 2025 second quarter earnings call, joined today by Troy Reeb, our Co-Chief Executive Officer. Before I read the cautionary statement, I would like to remind everyone that we have slides that accompany today's call, and you can find them on our website at www.corusent.com under the Investor Relations-Events and Presentations section.
Let's move on to the standard cautionary statement found on
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