Benzinga - by Zacks, Benzinga Contributor.
Rogers Communication (NYSE: RCI) has signed significant multi-year agreements with Comcast's (NASDAQ: CMCSA) NBCUniversal and Warner Bros. Discovery (NASDAQ: WBD) to deliver top lifestyle and entertainment content to Canadians across various platforms.
Rogers Communication is committed to increasing its investment in original Canadian content, working alongside independent Canadian producers. Over the past decade, the company has invested $6.9 billion in Canadian programming, reinforcing its dedication to providing the best content to Canadian audiences. This commitment creates bright long-term prospects for the company.
This strategic move comes on the heels of RCI's partnership with Comcast, which is aimed at bringing advanced Xfinity products and technology to Canadians. The integrated entertainment platform offers a seamless viewing experience, combining live sports, news, on-demand content and streaming apps with an award-winning voice remote and user-friendly interface.
Rogers Communication is set to collaborate with Canadian distribution partners to ensure broad accessibility of its content, allowing viewers to continue enjoying their favorite shows. Additionally, the content will be available on Citytv+, enhancing the programming lineup that includes Citytv, OMNI, FX and FXX.
Starting in September 2024, RCI will introduce NBCUniversal's Bravo channel in Canada, becoming the exclusive English-language broadcaster of its content. From January 2025, Rogers Communication will also become the exclusive home for Warner Bros. Discovery's array of English-language U.S. lifestyle and factual channels, such as HGTV and The Food Network.
Shares of this Zacks Rank #3 (Hold) company have plunged 18.4% year to date compared with the Zacks Consumer Discretionary sector's decline of 2.2%. This underperformance can be attributed to intense competition in the streaming market, which is set to be overcome by the latest partnership.
Rogers Communication, Inc. Price and Consensus
Rogers Communication, Inc. price-consensus-chart | Rogers Communication, Inc. Quote
RCI's Upcoming Content Lineup to Aid Top-Line Growth This recent partnership with CMCSA and WBD, besides a notable programming slate of original content in 2024 and 2025, is expected to aid to the company's top-line growth in 2025.
The Zacks Consensus Estimate for RCI's 2025 revenues is pegged at $15.66 billion, indicating year-over-year growth of 3.05%. The consensus estimate for earnings is pegged at $4.08 per share, indicating year-over-year growth of 12.02%.
Rogers Communication has announced several exciting upcoming shows like Law & Order Toronto: Criminal Intent Season 2, premiering in early 2025 on Citytv. Canada's Got Talent Season 4 will air in Spring 2025. Hudson & Rex is set to return for its seventh season in early 2025 and OMNI Television's ABROAD is renewed for a fourth season, airing in Spring 2025.
RCI's Sportsnet has renewed its agreements to remain the exclusive regional broadcast partner for both the Edmonton Oilers and the Calgary Flames for the next 11 seasons, extending through 2035. Sportsnet, which also holds the national NHL broadcast rights in Canada, will continue to air Oilers and Flames games on TV and via live stream on Sportsnet+.
Amazon (NASDAQ: AMZN), Rogers Communications and the NHL have announced a two-year agreement to stream Monday night NHL games exclusively on Prime Video in Canada for the 2024/25 and 2025/26 seasons. This marks the NHL's first exclusive national broadcast package with a digital-only streaming service in Canada.
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