2017-2018 AT A GLANCE
2017-2018: $ 573M
2016-2017: $ 557M
$ +16M (+2.9%)
Higher event revenue this year, mostly from our advertising activities as we broadcast the PyeongChang 2018 Olympic Winter Games.
Last year’s results included comparatively less advertising from our broadcast of the Rio 2016 Olympic Games.
Our revenue from ongoing activities increased mostly as a result of:
- Sustained growth of Radio‑Canada’s advertising revenue across all platforms throughout the year, despite a relatively soft market; and
- Higher CBC production revenue.
Our revenue was also positively impacted by the receipt of higher than expected royalties for the retransmission of audiovisual programming.
2017-2018: $ 1,208M
2016-2017: $ 1,099M
$ +109M (+9.9%)
Total government appropriations for operating activities increased by a further $75.0 million this year. This brings the total reinvestment in the public broadcaster to $150.0 million annually as announced by the government in March 2016. In addition, salary-inflation funding received this year of $34.1 million contributed to the total increase in government appropriations recognized.
2017-2018: $ 1,831M
2016-2017: $ 1,724M
$ +107M (+6.2%)
Our event expenses for the PyeongChang 2018 Olympic Winter Games were lower than those incurred last year to cover the Rio 2016 Olympic Games largely due to cost-saving initiatives.
We continued to spend more on our ongoing activities this year as we reaffirmed our commitment to invest in original content on television, radio and online. We aired more original Arts and Entertainment programming, particularly in relation to Canada 150, and we continued to invest in our digital capabilities and local services.
|For the year ended March 31|
|Results before other gains and losses||(50,072)||(68,406)||26.8|
|Net results under IFRS for the year||(12,564)||(70,768)||82.2|
|Results on a Current Operating Basis*||48,694||(22,271)||N/M|
Net results under IFRS were a loss of $12.6 million, an improvement compared to the loss of $70.8 million last year. This improvement of $58.2 million (82.2%) reflects higher revenue and funding net of additional expenses from our reinvestment in content and services. In addition, our results this year include a gain of $54.5 million from the sale of our investment in Sirius XM Canada Holdings Inc.
Results on a Current Operating Basis were a gain of $48.7 million compared to a loss of $22.3 million last year. This improvement of $71.0 million is consistent with the change in IFRS results as discussed above. Our results on a Current Operating Basis are higher than the IFRS results in both years because the IFRS results exclude other non-cash expenses not expected to require operating funds in the short term.