TORONTO — Corus Entertainment Inc. says it currently expects "meaningful" year-over-year softness in television advertising revenue.
The media and content company's portfolio of offerings includes 33 specialty television services, 39 radio stations, 15 conventional television stations, and a suite of digital streaming assets.
In its latest outlook, it says a complex macroeconomic environment and ongoing pandemic-related impacts continue to put pressure on advertising revenues.
Corus adds that the heightened risk of a recession, persistently high inflation and continuing supply chain constraints have contributed to recent contractions in advertising demand and spending across the North American media industry.
Corus says, however, it is well-positioned to create value over the long term.
The company says it is continuing to invest in its businesses to advance its strategic plan and priorities.
This report by The Canadian Press was first published Sept.9, 2022.
Companies in this story: (TSX:CJR.B)
The Canadian Press
