Rogers Communications has raised its annual service revenue forecast, citing momentum from its increased stake in Maple Leaf Sports & Entertainment (MLSE), which owns the Toronto Raptors and Toronto Maple Leafs. The Canadian telecom giant now expects full-year service revenue growth of 3% to 5%, up from its previous estimate of 0% to 3%.
Rogers now holds a 75% stake in MLSE after acquiring rival Bell’s share, betting big on the rising value of live sports content in Canada and the U.S. Amid uncertain global trade conditions and shifting consumer pricing dynamics, live sports continues to draw loyal viewership across platforms.
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The company has aggressively expanded its sports media presence, including a 12-year, C$11 billion deal for exclusive NHL broadcast rights in Canada. In the second quarter, Rogers’ media revenue climbed 10%, driven by strong performance from NHL playoff broadcasts and the rollout of Warner Bros. Discovery’s TV channels.
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According to eMarketer analyst Paul Briggs, Rogers is effectively leveraging its sports ownership and rights to fuel media revenue growth. The MLSE deal is expected to further strengthen that trend in the coming quarters.
Rogers projects pro forma annual media revenue of about C$3.9 billion, while analyst consensus pegs full-year revenue at C$2.71 billion, based on LSEG data. For the quarter, Rogers reported revenue of C$5.22 billion, beating expectations of C$5.18 billion. It also added 35,000 postpaid wireless subscribers, slightly below the anticipated 35,640 additions, according to Visible Alpha.
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