ARCHIVED - Broadcasting Notice of Consultation CRTC 2011-625-1
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Additional reference: 2011-625
Ottawa, 30 November 2011
Call for applications – Radio stations to serve Toronto
Financial information relating to ethnic radio stations
1. On 28 September 2011, the Commission issued a call for applications to obtain broadcasting licences to operate new radio programming undertakings to serve Toronto (the Call) (see Call for applications – Radio stations to serve Toronto, Broadcasting Notice of Consultation CRTC 2011-625, 28 September 2011 [Broadcasting Notice of Consultation 2011-625]). In that notice, the Commission indicated that interested persons must submit duly completed applications to the Commission by 19 December 2011. The Commission notes that in the Call, it provided a link to a financial summary for the Toronto radio market, which refers to all private radio stations in that market combined.
2. Since the issuance of Broadcasting Notice of Consultation 2011-625, the Commission has received two separate requests for financial information relating specifically to ethnic radio stations operating in the Toronto market. The Commission notes that such information has never been released by the Commission in the past, as ethnic stations historically have been grouped together with English-language stations. However, in the present case, the Commission is of the view that the aggregated financial information could be made public without breaching any confidential rules. Further, the Commission considers that this information would be useful to potential applicants in determining whether they should submit an application for a broadcasting licence to operate an ethnic service in the Toronto radio market, in response to the Call.
3. In light of the above, the Commission has provided, in the appendix to the present notice of consultation, a table setting out the aggregated financial information relating to ethnic radio stations in the Toronto radio market, for the 2006 through 2010 fiscal years.
Secretary General
Appendix to Broadcasting Notice of Consultation CRTC 2011-625-1
Aggregated financial information relating to ethnic radio stations in the Toronto radio market (2006-2010 fiscal years)
CRTC – FINANCIAL SUMMARY – RADIO: Toronto Market - Ethnic
($) Fiscal Year | 2006 | 2007 | Var % | 2008 | Var % | 2009 | Var % | 2010 | Var % | CAGR (%) | |
---|---|---|---|---|---|---|---|---|---|---|---|
Reporting Units | 7 | 7 |
| 8 |
| 9 |
| 9 |
|
| |
Revenue | Local Time Sales | 17 736 471 | 17 310 820 | -2.40 | 17 676 601 | 2.11 | 16 644 905 | -5.84 | 17 801 411 | 6.95 | 0.1 |
National Time Sales | 475 151 | 237 536 | -50.01 | 560 549 | 135.98 | 728 450 | 29.95 | 842 412 | 15.64 | 15.4 | |
Network Payments |
|
|
| 0 |
| 0 | n/a | 0 | n/a | n/a | |
Syndication-Production | 243 796 | 309 715 | 27.04 | 297 386 | -3.98 | 234 475 | -21.15 | 241 299 | 2.91 | -0.3 | |
Government Grants |
|
|
|
|
|
|
| 0 |
| n/a | |
Other Revenue | 1 876 779 | 1 899 935 | 1.23 | 1 740 252 | -8.40 | 2 004 220 | 15.17 | 2 459 993 | 22.74 |
| |
Total Revenue | 20 332 197 | 19 758 006 | -2.82 | 20 274 788 | 2.62 | 19 612 050 | -3.27 | 21 345 115 | 8.84 | 1.2 | |
Expenses | Program | 5 954 871 | 6 024 564 | 1.17 | 6 476 023 | 7.49 | 5 413 496 | -16.41 | 5 863 672 | 8.32 | -0.4 |
Technical | 1 171 498 | 1 339 719 | 14.36 | 1 393 587 | 4.02 | 1 438 411 | 3.22 | 1 658 420 | 15.30 | 9.1 | |
Sales and Promotion | 3 397 405 | 3 266 329 | -3.86 | 3 209 685 | -1.73 | 2 923 783 | -8.91 | 2 868 639 | -1.89 | -4.1 | |
Administration and General | 6 357 830 | 6 535 511 | 2.79 | 7 376 195 | 12.86 | 7 820 962 | 6.03 | 7 848 067 | 0.35 | 5.4 | |
Total Expenses | 16 881 604 | 17 166 123 | 1.69 | 18 455 490 | 7.51 | 17 596 652 | -4.65 | 18 238 798 | 3.65 | 2.0 | |
Operating Income | 3 450 593 | 2 591 883 |
| 1 819 298 |
| 2 015 398 |
| 3 106 317 |
|
| |
Depreciation | 543 143 | 595 275 | 9.60 | 658 930 | 10.69 | 694 666 | 5.42 | 833 579 | 20.00 | 11.3 | |
Profit before interest and taxes (P.B.I.T.) | 2 907 450 | 1 996 608 |
| 1 160 368 |
| 1 320 732 |
| 2 272 738 |
|
| |
Interest Expense | 377 711 | 495 590 | 31.21 | 101 795 | -79.46 | 105 533 | 3.67 | 83 159 | -21.20 |
| |
Adjustments Gain (Loss) | -4 784 | -254 108 | >999± | 317 912 | -225.11 | 795 555 | 150.24 | 105 298 | -86.76 |
| |
Pre-tax Profit | 2 524 955 | 1 246 910 |
| 1 376 485 |
| 2 010 754 |
| 2 294 877 |
|
| |
Programming (%) | Programming Expense/Expense Total | 35.3 | 35.1 |
| 35.1 |
| 30.8 |
| 32.1 |
|
|
Programming Expense/Revenue Total | 29.3 | 30.5 |
| 31.9 |
| 27.6 |
| 27.5 |
|
| |
Staff | Total Salaries | 8 199 768 | 8 848 875 | 7.92 | 9 112 173 | 2.98 | 7 632 775 | -16.24 | 8 093 977 | 6.04 | -0.3 |
Average Staff Count | 231.7 | 246.7 | 6.47 | 251.0 | 1.74 | 240.2 | -4.30 | 329.8 | 37.30 |
| |
Average Salary ($) | 35,390 | 35,869 | 1.35 | 36,303 | 1.21 | 31,777 | -12.47 | 24,542 | -22.77 | -8.7 | |
Salaries/Expense Total (%) | 48.6 | 51.5 |
| 49.4 |
| 43.4 |
| 44.4 |
|
| |
Profitability (%) | Operating Margin | 17.0 | 13.1 |
| 9.0 |
| 10.3 |
| 14.6 |
|
|
P.B.I.T. Margin | 14.3 | 10.1 |
| 5.7 |
| 6.7 |
| 10.6 |
|
| |
Pre-tax Margin | 12.4 | 6.3 |
| 6.8 |
| 10.3 |
| 10.8 |
|
|
CAGR = Compound Annual Growth Rate
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