Corus Entertainment Inc. Class B · TSX:CORS
Corus Entertainment Inc. Class B — Q2 2023 Earnings Presentation
14 slides from Corus Entertainment Inc. Class B's earnings presentation, Apr 13, 2023
Slide 1: Fiscal 2023 Second Quarter Earnings Conference Call
Fiscal 2023 Second Quarter Earnings Conference Call Thursday, April 13, 2023 | 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 2023 Key Financial Highlights
Q2 Fiscal 2023 Key Financial Highlights $344 $59 million million consolidated revenue consolidated segment profit1 $28 3.59x million net debt to segment profit1 free cash flow1 1 This is a non-GAAP financial measure and does not have a standardized meaning prescribed by IFRS. Refer to the "Note to U
Slide 4: Cost Overview
Cost Overview • Investments to renew, extend and broaden programming rights well into the next regulatory regime • Approximately $50 million of Canadian Programming Expenditure (CPE) catch-up (from F2020) cost obligation as required by CRTC • Marketing initiatives to promote streaming offerings Ente
Slide 5: Four Corners Media Strategy
Four Corners Media Strategy Core 1 Invest in Channels 2 Content Business U.S. Studios Streaming Content 3 4 Services Licensing Corus has extended licensing terms and broadened rights grants to support our portfolio of streaming services Fiscal 2023 Second Quarter Earnings Conference Call | 5
Slide 6: Video Advertising is a Growth Market
Video Advertising is a Growth Market Total Addressable Premium Video Advertising Market in Canada $8,000 Advertising Revenue ($Million) $7,000 TV+Digital Video Digital Video CDN $6,000 TV $5,000 $4,000 $3,000 $2,000 $1,000 2017 2018 2019 2020 2021 2022E 2023E Source: ThinkTV Jan 2023 summary for all
Slide 7: Growing Our Content Business
Growing Our Content Business Fiscal 2023 Second Quarter Earnings Conference Call | 7
Slide 8: Q2 Fiscal 2023 Consolidated Results
Q2 Fiscal 2023 Consolidated Results • Advertising revenue impacted by challenging macroeconomic environment • Segment profit reflects lower advertising and subscriber revenue, higher programming costs, partially offset by cost savings initiatives • Free cash flow reflects lower cash provided by oper
Slide 9: Q2 Fiscal 2023 Television Results
Q2 Fiscal 2023 Television Results • Advertising revenue impacted by challenging macroeconomic conditions •S ubscriber revenue benefitted from $5.9 million in retroactive adjustments from distribution agreement renewals in prior year •S trong growth in distribution, production and other revenue drive
Slide 10: Q2 Fiscal 2023 Revenue Performance Metrics
Q2 Fiscal 2023 Revenue Performance Metrics New Platform Optimized Advertising 12% Revenue1 12% 50% Revenue1 52% 12% 52% % of TV Advertising and Subscriber Revenues 12% 50% 10% 40% % of TV Advertising Revenues 10% 40% 8% 8% 30% 6% 30% 6% 20% 4% 20% 4% 10% 2% 10% 2% 0% F18 F19 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 11: Q2 Fiscal 2023 Radio Results
Q2 Fiscal 2023 Radio Results •D elivered advertising revenue growth of 1% •S egment profit benefitted from higher local and podcasting revenues (in millions of dollars except percentages) Q2-2023 %Chg Segment revenue 22 1 Segment profit1 0.3 n/m Segment profit margin1 2% 1 pt 1 This is a non-GAAP fi
Slide 12: Update on Financial Priorities
Update on Financial Priorities Revised Capital Recent Highlights Allocation Priorities ~5.0 ~5.0 years weighted average debt Strategic investments to years maturity at February 28, 2023 drive future growth Debt repayment 3.59x net debt to segment profit2 3.59x at February 28, 2023 Dividends1 $0.12 a
Slide 13: Key Messages
Key Messages • Regulatory change is on the horizon • Enhancements to leading streaming portfolio • Building cross-platform monetization capabilities • Advancing affiliated owned studio business ambitions • Enterprise-wide cost review • Revised capital allocation priorities • Purposeful execution of
Slide 14: Fiscal 2023 Second Quarter Earnings Conference Call
Fiscal 2023 Second Quarter Earnings Conference Call Thursday, April 13, 2023 | 8 a.m. ET Q&A