The new Corus logo at Corus Quay in Toronto is photographed on Friday, June 22, 2018. THE CANADIAN PRESS/ Tijana Martin

The new Corus logo at Corus Quay in Toronto is photographed on Friday, June 22, 2018. THE CANADIAN PRESS/ Tijana Martin

Corus, Hulu announce ‘breakthrough’ multi-year streaming deal

Its Corus Studios division has signed a deal to sell more than 200 episodes of programming to Hulu

Corus Entertainment Inc. announced a distribution deal with U.S. streaming service Hulu Friday as it reported better-than-expected second-quarter financial results.

The Toronto-based company — which owns one of Canada’s largest radio groups, the Global television network and dozens of specialty cable channels — said its Corus Studios division has signed a deal to sell more than 200 episodes of programming to Hulu.

Hulu — jointly owned by Disney and NBCUniversal — will acquire the first three seasons of “Backyard Builds” as well as other renovation and food-related titles such as “Family Home Overhaul”, “$ave My Reno” and “Big Food Bucket List.”

Financial details of the deal weren’t announced, but Corus chief executive Doug Murphy told analysts on a conference call that it was a “breakthrough” multi-year agreement.

Murphy also said Corus has had very positive momentum with advertisers, the major source of revenue for its television and radio businesses.

“We’re going to be up a lot in Q3. Full stop. The question is, how big,” Murphy said, referring to the third quarter ending May 31.

Murphy said the latest round of restrictions due to the pandemic will delay growth for some categories of advertising — such as those attuned to entertainment and dining — but other categories that have been doing well will continue to do well.

Corus’s second-quarter results topped expectations as it reported that its profit for the three months ended Feb. 28 nearly doubled compared with a year ago.

The quarter was helped by a continued recovery in TV advertising revenue, new subscribers to its paid streaming services and growth in its content licensing business, Corus said.

It reported a second-quarter profit of $35.3 million or 17 cents per diluted share for the quarter ended Feb. 28, up from $18.5 million or nine cents per diluted share a year earlier.

Revenue totalled nearly $358.9 million, down from nearly $376 million.

On an adjusted basis, Corus says it earned 18 cents per share in its latest quarter, up from an adjusted profit of 12 cents per share in the same quarter last year.

Analysts on average had expected an adjusted profit of 12 cents per share for the quarter, according to financial data firm Refinitiv.

tech industry

Just Posted

Comox Valley medical clinics are all open, including the availability to book face-to-face care (i.e. for a physical examination) as per your clinic’s protocol (most clinics operate a “virtual care first” policy). ADOBE STOCK IMAGE
Northern Health launches virtual primary care clinic

Northerners without a family physician or nurse practitioner will now have access to primary care

Demonstrators lined Hwy 16 May 5 to mark the National Day of Awareness for Missing and Murdered Indigenous Women and Girls. (Deb Meissner photo)
VIDEO: Smithers gathering marks Red Dress Day honouring missing and murdered Indigenous women and girls

Approximately 70 people lined Hwy 16, drumming, singing and holding up placards

“Skeena,” by John Hudson and Paul Hanslow is one of five fonts in the running to become the default for Microsoft systems and Office programs. (Black Press Media File Photo)
Font named after Skeena River could become the next Microsoft default

One of the five new fonts will replace Calibri, which has been Microsoft’s default since 2007

The road to Telegraph Creek (Hwy 51) was closed April 15 due to a washout. On May 4, the road was opened to light-duty passenger vehicles during specific times. (BC Transportation and Infrastructure/Facebook)
Telegraph Creek Road opens for light-duty vehicles

Road has been closed since April 15 due to a washout

Marc Kielburger, screen left, and Craig Kielburger, screen right, appear as witnesses via video conference during a House of Commons finance committee in the Wellington Building in Ottawa on Tuesday, July 28, 2020. The committee is looking into Government Spending, WE Charity and the Canada Student Service Grant. THE CANADIAN PRESS/Sean Kilpatrick
BREAKING: Trudeau didn’t violate conflict rules over WE Charity, watchdog says

Federal ethics commissioner Mario Dion found that former finance minister Bill Morneau did violate the rules

Commissioner Austin Cullen listens to introductions before opening statements at the Cullen Commission of Inquiry into Money Laundering in British Columbia in Vancouver. THE CANADIAN PRESS/Darryl Dyck
B.C. money laundering inquiry could have lessons for other provinces: lawyer

4 reports concluded the flow of hundreds of millions of dollars in illegal cash linked to organized crime and the drug trade impacted the province’s real estate, luxury vehicle and gaming sectors

Police investigate a fatal 2011 shooting in a strip mall across from Central City Shopping Centre, which was deemed a gang hit. The Mayor’s Gang Task Force zeroed in on ways to reduce gang involvement and activity. (File photo)
COVID-19 could be a cause in public nature of B.C. gang violence: expert

Martin Bouchard says the pandemic has changed people’s routines and they aren’t getting out of their homes often, which could play a role in the brazen nature of shootings

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Tinder, an online dating application that allows users to anonymously swipe to like or dislike other’s profiles. (Black Press Media files)
B.C. man granted paternity test to see if Tinder match-up led to a ‘beautiful baby’

The plaintiff is seeking contact with the married woman’s infant who he believes is his child

Nurse Tami Arnold prepares to administer a COVID-19 vaccine. (Kareem Elgazzar/AP)
B.C. adults 30+ now eligible to get vaccinated against COVID-19

Health officials made the announcement Wednesday afternoon

Ancient Forest Alliance campaigner Andrea Inness walks beside an enormous western red cedar stump in a BCTS-issued cutblock in the Nahmint Valley. (PHOTO COURTESY TJ WATT)
Watchdog: logging practices put Vancouver Island old growth, biodiversity at risk

Forest Practices Board has issues with BC Timber Sales practices in Nahmint Valley near Port Alberni

Erik Christian Oun, who worked for the Coquitlam school district, has had his teaching licence suspended for half a year. (Pixabay)
B.C. teacher suspended after calling students ‘cutie’ and ‘sweetheart’ in online messages

Erik Oun’s licence has been suspended for half a year, a decision made by the B.C. Commissioner for Teacher Regulation

An Israeli attack helicopter launches flares as he flies over the Israeli Gaza border, southern Israel, Thursday, May 13, 2021. (AP Photo/Ariel Schalit)
Singh calls for halt on Canadian arms sales to Israel as violence escalates in region

Government data shows Canada sent $13.7 million in military goods and technology to Israel in 2019

Most Read