If the media industry is firmly on the rebound from a devastating 2009, the best indicator may come this week.
Montreal-based Astral Media Inc. - which has its hands in advertising through its chain of radio stations, specialty television channels, and outdoor advertising business - will post its second-quarter earnings.
In the first three months of fiscal 2010, advertising declines slowed and subscription revenues continued to climb, but CEO Ian Greenberg wasn't ready to say the downturn was done just yet.
The industry will be watching this time around to see whether signs of the recovery continue to mount.
In a research note last week, TD Securities Inc. analyst Scott Cuthbertson noted that Astral is helped by its strong presence in Quebec, "a province that did not participate as much as other regions during the boom years, but did not suffer the same degree of relative decline during 2009 either."
Corus Entertainment Inc., which also owns specialty TV and radio assets, will report next week.