CRTC releases commercial radio report
By Adnews Staff
The Canadian Radio-television and Telecommunications Commission has released its latest financial summaries for Canadian commercial radio stations. The report provides information on the sector's revenues and expenditures for the broadcast year ending Aug. 31, 2009. According to the report, the nation's AM and FM radio stations generated $1.5 billion in revenues in 2009, a drop of 5.2% from the previous year. Expenses fell by 1.7% to $1.2 billion, resulting in profits before interest and taxes of $272 million for the fiscal year. The profit margin fell to 18%, from 21% in 2008. Twenty-three new FM stations debuted in 2009, bringing their total number to 495. These stations generated $1.2 billion in revenues. The number of AM stations declined by seven in 2009 to 149. These stations generated $300 million in revenues, a decrease of 7.4%. In the reporting period, the commercial radio industry employed 10,191 people and paid $632 million in salaries.