UPDATE 4-Rogers tops revenue estimates on strength in live sports, media arm

(Updates shares in paragraph 1) By Kritika Lamba Oct 23 (Reuters) – Rogers Communications reported third-quarter revenue above analysts' estimates on Thursday, led by strong growth in its media and sports business as fans tuned in for live games, sending its U.S.-listed shares up more than 3% in early trading. Sports programming, one of the few genres still generating live viewership, has become increasingly vital to retain subscribers and advertisers. The Toronto, Canada-based telecom and media company has poured money into sports properties, including its stake in Maple Leaf Sports & Entertainment, which owns the NBA's Toronto Raptors and the NHL's Toronto Maple Leafs. "The strong YoY growth in Rogers' Q3 media business – 26% YoY – is largely due to its strategy of consolidating sports holdings," said Paul Briggs, principal analyst at eMarketer. "The winning Toronto Blue Jays attracted large audiences to Rogers Sportsnet throughout Q3 and that momentum should push through to Q4 as the team chases a World Series victory." Rogers' focus on sports and entertainment content comes as broadcasters vie for streaming audiences and advertising dollars in a highly fragmented media environment. Its media revenue grew 26% to C$753 million, helped by higher sports-related revenue from the Blue Jays playoffs and the addition of Warner Bros Discovery's suite of television channels. It will also acquire the remaining 25% minority stake in MSLE in 2026, Rogers said in a post-earnings call. The results highlight the early payoff of the company's strategy to integrate premium services – from connectivity to sports content – as a key differentiator in Canada's competitive wireless market. Rogers added 62,000 monthly postpaid bill-paying wireless phone subscribers during the quarter, above estimates of 57,907 additions, according to analysts polled by Visible Alpha. It reported quarterly revenue of C$5.35 billion ($3.81 billion), slightly above analysts' average estimate of C$5.32 billion, according to data compiled by LSEG. ($1 = 1.4024 Canadian dollars) (Reporting by Kritika Lamba in Bengaluru; Editing by Pooja Desai)

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