Media Beat: Facing a Budget Shortfall, Toronto's Jazz.FM91 Calls For Help [Column]

The Toronto Star reports that an unsigned communique on JAZZ.FM91 letterhead with a plea intended for donors is an urgent call for help: “Our current operating budget faces a shortfall of $150,000. To keep the lights on and the music playing, we need to close this gap by August 31.”

In one fashion or another, the jazz-themed FM radio station, CJRT, has been on the air for 75 years. The public broadcaster and charitable arts organization has been a big boost to the city’s jazz community and in many ways, a model of how a public radio station should operate.

Its outreach programs and fundraising drives are professional and well organized, but times are changing and one of the biggest legacy costs today is its rent. It’s trying to sublet or find an accommodation with the property owner.

Bell Canada: Profits Up, Revenue Down 1%

Bell Canada Enterprises (BCE) reported a boost in profits in Q2 2024 following thousands of job cuts earlier in the year. Per Mobile Syrup (via Canadian Press), BCE revenue slipped one percent to $6.01 billion compared to the same period last year. However, the company reported net earnings of $604 million, up 52 percent from Q2 2023.

According to Mobile Syrup, CEO Mirko Bibic attributed the revenue drop closure of 107 The Source locations as well as competition from lower price providers. He attributes the profit boost to lower expenses and acquisition costs. – Mobile Syrup

Rogers On A Roll

Rogers Communications has reported Q2 2024 adjusted earnings of 85 cents per share, an increase of 11.8% year over year.

Revenues of $3.72B missed the consensus mark by 0.45% and decreased 0.9% year over year. Adjusted earnings increased 13.7% year over year to $1.16 per share. Total revenues increased 0.9% year over year, reaching $5.09B, driven primarily by revenue growth in Wireless and Media businesses.