News release

March 17^th, 2004 

The CRTC releases its annual report
 on financial results for radio in Canada

OTTAWA-GATINEAU - The Canadian Radio-television and Telecommunications Commission (CRTC) today released its annual report containing statistical and financial data for private commercial radio in Canada for the years 1999 to 2003. From 2002 to 2003, revenues for private Canadian commercial radio rose by 7.8% to almost $1.2 billion, and net profits grew by 31%, reaching $210.4 million in 2003. Over the five years, revenues increased by 22% and net profits by 137.3%. In addition, 17 new radio stations began operations in various Canadian markets, and the industry employed nearly 9,000 people in 2003.

FM radio

From 2002 to 2003, net profits for FM radio stations grew by 17.2% and revenues grew from $804.6 million to $883.2 million, an increase of 9.8% -- the highest in five years. Between 1999 and 2003 the average annual growth was 7.5%, while revenues rose by 33.8% and net profits by 74.6%.

Revenues for English-language FM stations increased over the five years by 33.8%, and their net profits by 82.6%. From 2002 to 2003, their revenues rose by 9.3% to slightly over $700 million, and net profits totalled close to $182.9 million, an increase of 17.6%.

Over the five years, French-language FM stations increased their revenues by 35.2% and their net profits by 37.1%. In 2003, net profits reached close to $173 million, an increase of 12% over the previous year, and net profits grew by 12.2% to nearly $30.9 million.

AM radio

Canadian AM radio continues to experience difficulties even though revenues saw a slight growth of 2.5% between 2002 and 2003. Net losses were lower in 2003 compared with the years 1999 and 2002; they were $33.9 million in 1999, almost $22 million in 2002, and $3.6 million in 2003. Between 1999 and 2003, AM revenues decreased by 2.6%.

From 2002 to 2003, revenues for English-language AM stations went from $254.4 million to $261 million, an increase of 2.6%, while those of French-language AM stations went from $25.7 million to $25.9 million, an increase of 0.8%.

Ethnic and Aboriginal radio

Over the five years, revenues for ethnic and Aboriginal radio stations increased by 14%. From 2002 to 2003, revenues grew by 4.3% and net profits by 153.6%.

From 2002 to 2003, ethnic and Aboriginal AM stations increased their revenues by 3.6%, from $18.7 to $19.4 million, and their net profits by 40.8%. The FM stations increased their revenues by 5.9 percent, from just under $9.3 million to just over $9.8 million. In 2002, they took net losses of $380,271, while in 2003 they achieved net profits of $292,444.

Background

The data used in this report were drawn from annual reports and financial data of companies operating radio stations in Canada. This report is part of the CRTC's ongoing effort to evaluate, among other factors, the impact of its regulations on the broadcasting industry. The Commission produces other reports as well, such as the Broadcasting Policy Monitoring Report, which reveals important trends in the Canadian broadcasting system.

The Canadian Radio-television and Telecommunications Commission is an independent public authority that regulates and supervises broadcasting and telecommunications in Canada.

Reference document:  Commercial Private Radio - Statistical and Financial Summaries - 1999 - 2003 [.htm] [.pdf] [.xls]

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Media Relations:
  MediaRelations@crtc.gc.ca, Tel: (819) 997-9403, Fax: (819) 997-4245

General Inquiries:
   Tel: (819) 997-0313, TDD: (819) 994-0423, Fax: (819) 994-0218
   Toll-free # 1-877-249-CRTC (2782), eMail: info@crtc.gc.ca
   TDD - Toll-free # 1-877-909-2782

Copies of today's documents are available through our Internet site (http://www.crtc.gc.ca) or by contacting the public examination room of any CRTC office. These documents are available in alternative format upon request.

 Date Modified: 2004-03-17

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