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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

The District of Ucluelet is fast-tracking temporary use permits for RVs/campervans as seasonal housing. (Westerly file photo)
Ucluelet reviews 11 applications for RVs as seasonal housing

“Housing is so essential to everyone, and an issue that cases a lot of stress to business owners.”

Parks Canada and Tla-o-qui-aht public works dig the washed up Princess M out from sand along the south shore of the Pacific Rim National Park Reserve. (Nora O’Malley photo)
Rescue attempt costs man his boat off Pacific Rim National Park Reserve

Coast Guard response questioned after volunteer responder’s speedboat capsizes in heavy swells

A B.C. Centre for Disease Control map showing new COVID-19 cases by local health area for the week of April 25-May 1. (BCCDC image)
Vancouver Island’s COVID-19 case counts continue to trend down

Fewer than 200 active cases on the Island, down from highs of 500-plus earlier this spring

(The Canadian Press)
Trudeau won’t say whether Canada supports patent waiver for COVID-19 vaccines

‘Canada is at the table to help find a solution’

Pieces of nephrite jade are shown at a mine site in northwestern B.C. in July 2019. THE CANADIAN PRESS/HO-Tahltan Central Government MANDATORY CREDIT
Indigenous nation opposes jade mining in northwestern B.C.

B.C.’s Mines Act requires operators to prepare a plan to protect cultural heritage resources

The body of Brenda Ware, 35, was found along Highway 93 in Kootenay National Park on Thursday, May 6, 2021. (RCMP handout)
RCMP ask for tips after woman’s body found in Kootenay National Park

Brenda Ware was found along Highway 93 in the park, 54 kilometres north of the town of Radium

People pass the red hearts on the COVID-19 Memorial Wall mourning those who have died, opposite the Houses of Parliament on the Embankment in London, Wednesday, April 7, 2021. On May 3, the British government announced that only one person had died of COVID-19 in the previous 24 hours. THE CANADIAN PRESS/AP-Kirsty Wigglesworth
For a view of a COVID-19 future, Canadians should look across the pond

Britain, like Canada, is one of the only countries in the world to delay second doses for several months

Edmonton Oilers’ Connor McDavid (97) celebrates his 100th point this season with Leon Draisaitl (29) against the Vancouver Canucks during second period NHL action in Edmonton on Saturday, May 8, 2021.THE CANADIAN PRESS/Jason Franson
Edmonton superstar McDavid hits 100-point mark as Oilers edge Canucks 4-3

NHL scoring leader needs just 53 games to reach century mark

Nuns of Mother Teresa’s Missionaries of Charity, carry some of her relics during a vigil of prayer in preparation for the canonization of Mother Teresa in the St. John in Latheran Basilica at the Vatican, Friday, Sept. 2, 2016. In which city did she do much of her charitable work? (AP Photo/Gregorio Borgia)
QUIZ: How much do you know about these motherhood issues?

In honour of Mother’s Day, take this 10-question quiz

A map showing where the most number of cases were recorded from April 23 to 29. This map, revealing a breakdown of infections by neighborhood, was pulled from a data package leaked to the Vancouver Sun last week (and independently verified).
36 Abbotsford schools flagged for COVID-19 exposures in the last 2 weeks, shattering record

Clearbrook Elementary recorded an ‘exposure’ on all 11 school days

Island Health has confirmed COVID-19 exposures at Ecole des Deux Mondes in Campbell River on May 4 and 5, and at Mill Bay Nature School in Mill Bay on April 28, 29, 30 and May 3. (Metro Creative photo)
Two new COVID-19 school exposures confirmed by Island Health

Health authority contacting anyone exposed at Ecole des Deux Mondes, Mill Bay Nature School

Most Read