Profits down for Canada's post biz
EmptyOTTAWA -- Despite higher revenue from mostly Los Angeles producers working here, the Canadian film and TV postproduction industry saw profits fall to CAN $47.4 million in 2005, compared with a year-earlier CAN$58.3 million, thanks to rising expenses, Statistics Canada reported Wednesday.
The government's statistics agency said revenue grew 7.9% to CAN$844 million in 2005, the last year surveyed, compared with 2004. But a 10% jump in expenses, to CAN$769.3 million, bit into the bottom line and forced the drop in earnings.
Statscan said that about two-thirds of revenue in 2005 were generated by post services for international, mostly American producers. At the same time, revenue for homegrown work rose 8.6%, more than double the 4.1% revenue increase for foreign clients.
Statscan said that expenses were up partly because of a 7% increase in salaries, wages and benefits.