CRTC issues local television report for 2014
By Adnews Staff
The Canadian Radio-television and Telecommunications Commission has released its annual financial report on local Canadian television stations. According to the report, revenues from the sale of local advertising declined from $351.2 million in 2013 to $333.6 million in 2014, a decrease of five percent. Private local television stations saw a 7.8% decline in national advertising revenues, from $1.28 billion to $1.18 billion over the same period. Over the same period, expenses declined slightly from $1.85 billion to $1.84 billion. The sector as a whole operated at a loss of $138.7 million in 2014, compared to a loss of $2.3 million in 2013.
In addition, CBC/SRC reported $474.6 million in advertising revenues in 2014, up 43% from the $331.1 million of 2013. The increase was attributed primarily to broadcasts of the Sochi Olympic Games, the FIFA World Cup in Brazil and National Hockey League games.