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Other revenues
The following table highlights the movement in media, games and other revenues for the quarter and the full year (in thousands of Canadian dollars):
----------------------------------------------------------------------------Other revenues Fourth Quarter Full Year 2012 2011 Change 2012 2011 Change----------------------------------------------------------------------------Media $ 30,980 $ 28,667 8.1% $ 84,870 $ 91,242 -7.0%Games 1,361 2,128 -36.0% 6,379 7,584 -15.9%Other 9,416 8,997 4.7% 32,989 30,383 8.6%----------------------------------------------------------------------------Total $ 41,757 $ 39,792 4.9% $ 124,238 $ 129,209 -3.8%----------------------------------------------------------------------------
Fourth Quarter
Other revenues increased 4.9% to $41.8 million in the fourth quarter of 2012 compared to the prior year period. This increase was due to higher media revenues, which were $31.0 million, up $2.3 million, or 8.1%, when compared to the prior year period. This increase was primarily due to higher CDM revenues ($2.9 million), partially offset by decreases in other media categories. In addition to expanding its ongoing digital network management contracts, CDM completed several large equipment installation projects in the fourth quarter of 2012.
The games revenue decrease is due to the formation of CSI on January 31, 2012, with the acquisition by NWS of the gaming business of SCM. With the creation of the CSI joint venture, revenues from CSI are included in the 'Share of loss of joint ventures' line in the Statements of Operations. The games revenues for the fourth quarter of 2011 include the results of NWS ($0.9 million). The addition of four new XSCAPE entertainment centres since the fourth quarter of 2011 partially offset the decrease in games revenue due to the creation of CSI in the first quarter of 2012 and the reclassification of the NWS revenue to the share of loss of joint ventures line on the statements of operations. Other revenues increased primarily due to increased revenues from enhanced guest service initiatives and auditorium rentals, partially offset by lower breakage revenues.
Full Year
Other revenues decreased 3.8% from $129.2 million in 2011 to $124.2 million during 2012. Media revenues for 2012 decreased $6.4 million, or 7.0%, from the prior year period. Declines in Cineplex's media business were due in part to the challenging media environment prevalent during the first half of 2012, partially offset by a 6.1% increase in media revenues in the second half of 2012. Cineplex enjoys strong relationships with a number of national advertisers and during the first half of the year the reduction in campaigns from three major categories of these advertisers contributed to the decrease in media revenues. CDM continued to report growth in revenues, increasing from $10.8 million in 2011 to $13.7 million in 2012.
The decrease in games revenue was due to the impact of the acquisition of NWS and the subsequent formation of CSI. The results of NWS are included in the comparative period for May to December 2011 (following its acquisition in May 2011) and for January 2012 (prior to the formation of CSI described above - $0.4 million for the 2012 period and $2.5 million for the 2011 period). This decrease was partially offset by the impact of the four new XSCAPE entertainment centres added since the fourth quarter of 2011 as well as the higher attendance in the current year period bringing more games traffic through the theatres. The increase in the other category is primarily due to higher auditorium rental and screening revenues as well as additional revenue arising from enhanced guest service initiatives.
