CRTC releases radio financial results
By Adnews Staff
The Canadian Radio-television and Telecommunications Commission has released statistical and financial summaries for Canadian private commercial radio stations for the year ending Aug. 31, 2008. Canadian radio stations generated $1.58 billion in revenues in that year; and increase of approximately 5% over the sector's 2007 revenues. Expenses rose by 3.6 % to $1.24 billion, resulting in total profits before interest and taxes of $335 million. This is in comparison to $299 million the previous year. Local advertising revenues increased from $1.09 billion to $1.14 billion in 2008, while revenue from national advertising sales increased from $379 million to $406 million. The 474 FM radio stations in Canada generated $1.25 billion in total revenues, while the 154 AM station generated $329 million.