A total of 704 commercial radio stations offered a variety of programming to Canadians during the broadcast year ending August 31, 2024. These stations employed over 9,500 people (down 3.4% from 2024), and supported established and emerging Canadian artists through, notably, financial contributions to funds dedicated to Canadian content development, as well as to a large variety of local initiatives, charities and events.
Total revenues for commercial radio stations were $1.6 billion in 2024, down 0.7% (-$11.6 million) compared to 2024. The bulk of commercial radio revenues came from local and national advertising, which amounted to $1.58 billion in 2024. Advertising revenues for the radio sector have remained relatively stable since 2024.
In the past year, commercial stations have decreased their expenditures by $14.2 million for a total of $1.3 billion. As a result, profits before interest and taxes (PBIT) increased from $298.2 million to $303.4 million, resulting in a slight increase in the PBIT margin, which went from 18.5% to 18.9%.
The 23 third-language radio stations operating across the country generated $46.7 million in revenues in 2024, up 1.5% from 2024. Ethnic radio services’ total revenues have recorded an average 1.3% growth per year since 2024, while French- and English-language services have reported declines of 0.1% and 0.3% a year, on average, over that period.
The 2024 broadcast year marked the second year during which the CBC could sell advertising on its Ici Musique and CBC Radio 2 services. Advertising revenues totaled $1.4 million, up 27.2% from 2024. Nonetheless, total revenues for CBC’s stations decreased by 3.9% to $276.5 million in 2024 as parliamentary appropriations allocated to the public broadcaster’s radio services declined by 3.4% from the previous year.
Each year, the CRTC compiles financial data on the Canadian broadcasting industry, including these radio financial summaries. In an effort to increase Canadian’s access to relevant information, this year’s publication includes statistical and financial information of 14 additional radio markets, three of which are in the Atlantic provinces, four in Ontario, six in the Prairies and one in British Columbia. This brings to 29 the total number of radio markets for which the Commission releases financial data.
The CRTC will be releasing the 2024 financial results for local television stations, specialty, pay, pay-per-view and video-on-demand television services, and television service providers in the coming months. Following the publication of these reports, the CRTC will issue its annual Communications Monitoring Report.
These annual reports allow Canadians to stay informed about the state of Canada’s communications industry, while assisting them with their participation in the CRTC’s public consultations.
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