Score posts Q4, '09 losses
Recently launched HD serviceTORONTO -- Canadian sports broadcaster Score Media swung to a fourth quarter and full year 2009 loss due to high-definition TV programming and marketing expenditures.
Toronto-based Score Media posted a fourth quarter loss to August 31 of CAN$677,000 ($650,000), on revenue of CAN$8.9 million ($8.5 million), against a year-earlier profit of CAN$1.16 million on revenue of CAN$8.5 million.
Score media provides live sports and highlights through the Score cable sports channel, a satellite radio operation and online and mobile properties.
The broadcaster, the third-largest Canadian sports channel after the Sports Network and Rogers SportsNet, also recently launched the Score HD service.
For full-year 2009, Score posted a loss of CAN$1.5 million ($1.44 million) on revenue of CAN$38.9 million ($37.5 million), against earnings of CAN$2 million from CAN$36.4 million in revenue.
The broadcaster said earnings were dented by investments in high-definition programming, even as TV subscriber revenues rose, as did online and mobile revenue.
"Continuing to grow revenue while making strategic investments across various departments and navigating through a tough economy is a noteworthy accomplishment that has left us well positioned for both revenue and EBITDA growth in 2010," Score Media CEO and controlling shareholder John Levy reported.