TVA Sports lost 11 million in 2020-2021 despite the Canadiens reaching the Stanley Cup Final. In the same year, its competitor RDS doubled its profits to 16 million.
Posted at 6:00 am
This net loss before taxes at TVA Sports for the broadcast year ending August 31, 2021 was fairly stable compared to the prior year. This was a slight increase to 11 million from 10.6 million the year before.
TVA Group’s sports channel revenues rose 13% to 103 million, according to data released Thursday by the Canadian Radio-Television and Telecommunications Commission (CRTC). The increase in revenue was offset by a similar increase in expenses.
TVA Sports has never turned a profit since its creation in 2011.
At RDS, profits more than doubled to 16 million, while RDS Info Channel posted a pre-tax loss of 6.8 million, which reduced profitability to the same amount by consolidating the financial statements of the two channels. Results for these two Bell Media-owned channels are published separately because they are operated under different licenses.
The increase in profits at RDS can be explained exclusively by the increase in advertising revenue and the decrease in costs. National advertising revenue rose 15% to $34.5 million. However, they do not represent …
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