Corus Entertainment Inc. Class B · TSX:CJR.B
Corus Entertainment Inc. Class B — Q2 2024 Earnings Presentation
14 slides from Corus Entertainment Inc. Class B's earnings presentation, Apr 12, 2024
Slide 1: Fiscal 2024 Second Quarter Earnings Conference Call
Fiscal 2024 Second Quarter Earnings Conference Call Friday, April 12, 2024 | 8 a.m. ET
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking information and should be read subject to the following cautionary language: To the extent any statements made in this presentation contain information that is not historical, these statements are forward-looking statements and may be f
Slide 3: Q2 Fiscal 2024 Key Financial Highlights
Q2 Fiscal 2024 Key Financial Highlights $300 $53 million million consolidated revenue consolidated segment profit1 $33 3.62x million proforma net debt to free cash flow1 segment profit1,2 1 This is a non-GAAP financial measure and does not have a standardized meaning prescribed by IFRS. Refer to the
Slide 4: Global Prime Time Highlights
Global Prime Time Highlights Fiscal 2024 Second Quarter Earnings Conference Call | 4
Slide 5: Specialty TV Highlights
Specialty TV Highlights Fiscal 2024 Second Quarter Earnings Conference Call | 5
Slide 6: Video First Opportunity
Video First Opportunity Free Ad-Supported Ad-Supported VOD Ad-Supported Hybrid Free Ad-Supported Subscription-Based VOD Streaming Television (AVOD) (SVOD/Live) Streaming Television (SVOD) (FAST) (FAST) • 14 free 24/7 Global News • Includes Global TV • 16 Channels Live and • Free TV with 140+ • Subsc
Slide 7: Advertising Market Landscape
Advertising Market Landscape • Lingering impacts from the lengthy disruption of advertising markets due to Hollywood strikes • Uncertain duration of macroeconomic conditions • Increased competition from digital platforms Advertising Demand Creation Initiatives • Significant opportunity to unlock adv
Slide 8: Normalization of Programming Costs
Normalization of Programming Costs • Normalization of Canadian Programming Expenditures (CPE) with completion of required CPE catch-up obligation • Annual 30% CPE obligation calculated on lower prior year regulated revenue in F24 and F25 • Significant savings from reduced foreign programming deliver
Slide 9: Q2 Fiscal 2024 Consolidated Results
Q2 Fiscal 2024 Consolidated Results • Revenue reflects impacts of challenging macroeconomic environment and delay of scripted program deliveries on advertising demand, lower subscriber and content revenue • Segment profit1 reflects lower revenue, partially offset by lower programming costs from dela
Slide 10: Q2 Fiscal 2024 Television Results
Q2 Fiscal 2024 Television Results • Advertising revenue impacted by challenging macroeconomic conditions and delayed scripted program deliveries • Subscriber revenue reflects lower traditional TV system subscribers partially offset by moderate growth in streaming subscribers • Distribution, producti
Slide 11: Q2 Fiscal 2024 Radio Results
Q2 Fiscal 2024 Radio Results •A dvertising revenue impacted by weakness in certain Western markets, sequential improvement from Q1 2024 •S egment profit1 reflects impact of cost savings initiatives partially offset by lower advertising revenue (in millions of dollars except percentages) Q2-2024 %Chg
Slide 12: Debt Repayment in Focus
Debt Repayment in Focus • Corus has been very proactive in improving its debt profile to maintain financial flexibility Debt Outstanding 1 $1,999 Debt Outstanding $1,999 $1,745 Bank Debt Bonds $1,745 $1,516 Bank Debt Bonds Highlights $1,516 $1,366 $1,366 $1,256 $1,256 $1,087 $1,064 Millions $1,087 $
Slide 13: Outlook
Outlook • Return to regular prime time programming on Global • Advancing Video First strategy • Achieving ongoing efficiencies, reducing bank debt and improving financial flexibility through Fit for the Future initiatives • Regulatory change is underway Fiscal 2024 Second Quarter Earnings Conference
Slide 14: Fiscal 2024 Second Quarter Earnings Conference Call Q&A
Fiscal 2024 Second Quarter Earnings Conference Call Friday, April 12, 2024 | 8 a.m. ET Q&A