Corus Entertainment Inc. Class B · TSX:CORS
Corus Entertainment Inc. Class B — Q4 2022 Earnings Presentation
17 slides from Corus Entertainment Inc. Class B's earnings presentation, Oct 21, 2022
Slide 1: Fiscal 2022 Fourth Quarter and Year-End Earnings Conference Call
Fiscal 2022 Fourth Quarter and Year-End Earnings Conference Call Friday, October 21, 2022 | 8 a.m. ET
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking information and should be read subject to the following cautionary language: To the extent any statements made in this presentation contain information that is not historical, these statements are forward-looking statements and may be f
Slide 3: Fiscal 2022 Business Highlights
Fiscal 2022 Business Highlights • Ongoing expansion of premium digital video offerings as part of emerging streaming portfolio • Successful renewal of content supply agreements extending term and broadening basket of rights to pursue growth in premium digital video • Delivered best company subscribe
Slide 4: Fiscal 2022 Key Financial Highlights
Fiscal 2022 Key Financial Highlights $1,599 $444 million million consolidated revenues, consolidated up 4% from prior year segment profit1 $240 3.02x million net debt to segment profit1 free cash flow1 1 This is a non-GAAP financial measure and does not have a standardized meaning prescribed by IFRS
Slide 5: Strong Fall Schedule
Strong Fall Schedule + + Specialty Fiscal 2022 Fourth Quarter and Year-End Earnings Conference Call | 5
Slide 6: Video Advertising is a Growth Market
Video Advertising is a Growth Market Digital Video and TV Advertising Audiences Spend 4+ Hours Revenue Trend in Canada a Day With Video $7,500 Advertising Revenue ($Million) Time Spent With Media (Weekly Minutes) 350 $6,500 300 $5,500 250 200 $4,500 150 $3,500 100 $2,500 50 $1,500 0 2017 2018 2019 2
Slide 7: Resilient Recurring Subscriber Revenue
Resilient Recurring Subscriber Revenue Television Subscriber Revenue since F2017 Television Subscriber Revenue by Quarter 600 495* 496* 490* 491 498 518 Hybrid SVOD/Live 500 +2%** 400 Q4 Q3 300 Q2 $Million CDN Q1 200 Authenticated VOD for traditional TV 100 0 2017* 2018* 2019* 2020 2021 2022 Fiscal
Slide 8: Powerful Streaming Portfolio
Powerful Streaming Portfolio Ad-supported Hybrid SVOD/Live Ad Supported VOD (AVOD) Free Ad-Supported Streaming Television (FAST) Subscription-Based VOD (SVOD) Free Ad-Supported Streaming Television (FAST) Fiscal 2022 Fourth Quarter and Year-End Earnings Conference Call | 8
Slide 9: Expanded Content Business
Expanded Content Business SARAH’S PAM’S MOUNTAIN GARDEN ESCAPE OF EDEN Waterside Studios ~900 episode ~4,800 episode Expanding content library library production portfolio Fiscal 2022 Fourth Quarter and Year-End Earnings Conference Call | 9
Slide 10: Cost in Focus
Cost in Focus Smart investment CPE Future of Work in programming catch up • Investments to renew, • Approximately $50 million • Investments in flexible extend and broaden of Canadian Programming work arrangements programming rights Expenditure (CPE) catch- • Time in person with well into the next up
Slide 11: Q4 and Year-End Fiscal 2022 Consolidated Results
Q4 and Year-End Fiscal 2022 Consolidated Results • Delivered consolidated revenue growth of 4% for the year; Q4 advertising revenue impacted by uncertain macroeconomic environment • Segment profit comparable includes $1 million of federal wage subsidy in Q4 2021 and ~$23 million of federal wage subs
Slide 12: Q4 and Year-End Fiscal 2022 Television Results
Q4 and Year-End Fiscal 2022 Television Results • Delivered growth across all revenue sources for the year; Q4 advertising revenue impacted by challenging macroeconomic conditions • Subscriber revenues benefiting from increased streaming subscriber uptake year-over-year • Strong growth in content rev
Slide 13: Q4 and Year-End Fiscal 2022 Revenue Performance Metrics
Q4 and Year-End Fiscal 2022 Revenue Performance Metrics New Platform Optimized Advertising 12% 12% 50% 50% Revenue1 Revenue1 % of TV Advertising and Subscriber Revenues 10% 40% % of TV Advertising Revenues 8% 30% 6% 20% 4% 10% 2% 0% F18 F19 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 0 F18 F19 Q1 Q2 Q3 Q4 Q
Slide 14: Q4 and Year-End Fiscal 2022 Radio Results
Q4 and Year-End Fiscal 2022 Radio Results • Delivered advertising revenue growth for the year; Q4 revenue flat despite challenging macroeconomic conditions • Segment profit comparable includes $2.7 million of federal wage subsidy and regulatory relief for fiscal 2021 (in millions of dollars except p
Slide 15: Significant Progress on Financial Priorities
Significant Progress on Financial Priorities Shareholder Yield Recent Highlights $975M $200M $1,000M $189M ~5.6 weighted average debt years maturity at August 31, 2022 $150M $750M $100M $500M net debt to segment profit1 3.02x at August 31, 2022 $50M $250M $31M ~$975 allocated to shareholder-friendly
Slide 16: Focus on Long-term Goals
Focus on Long-term Goals Deploy expanded programming rights across emerging portfolio of streaming More Content in More Places services Metric: New Platform Revenue Focus on growing revenues from Optimized Advertising and Automated Transform How We Sell Media Buying Platform Metric: Optimized Advert
Slide 17: Fiscal 2022 Fourth Quarter and Year-End Earnings Q&A
Fiscal 2022 Fourth Quarter and Year-End Earnings Conference Call Friday, October 21, 2022 | 8 a.m. ET Q&A