Business booming for Canada's TV operators
CRTC reports growth in profits, revenueOTTAWA -- Canada's cable and satellite TV operators experienced robust revenue and profit growth in 2007, Canada's TV watchdog said Wednesday.
The Canadian Radio-television and Telecommunications Commission reported that cable revenue rose 16.1% between 2006 and '07 to a record CAN$7.1 billion ($6.96 billion), while revenue for wireless cable and satellite TV distributors jumped 11.4% year-to-year to CAN$1.85 billion ($1.81 billion).
Canadian cable pretax profits for 2007 rose 10% to CAN$1.5 billion ($1.47 billion), while the pretax profits for satellite TV and wireless cable operators grew 153.6% to CAN$17 million ($16.6 million) last year, compared with a loss of CAN$32 million in 2006.
The CRTC reported 7.65 million Canadians were subscribers of basic cable in 2007, while another 2.6 million Canadians subscribed to satellite TV services during the same period.