Sales at Rogers Video continue to plummet according to financial results released by Rogers Communications today.
The Video chain’s for the three months ending September 30, 2011 were $18 million, down 45% from the $33 million reported during the same period a year earlier. For the first nine months of this year, revenues have fallen 46% to $60 million, down from $111 million for the first nine months of 2010.
Rogers Communications Inc. today announced its consolidated financial and operating results for the company’s fiscal third quarter ended September 30, 2011.
For the July to September quarter, Rogers reported overall operating revenues of $3.15 billion, up 1% from the same period a year earlier. Adjusted operating profits were $1.22 billion, virtually unchanged from the third quarter of 2010.
In emails to customers this week, Zip.ca and Rogers Video Direct have announced a reduction in service and an increase in prices.
The move comes just a month after the demise of Blockbuster Canada, Zip and Rogers Video Direct biggest competitor in Canada.