Despite being widely publicized, fewer than 50 people turned out for the BC Ferries annual general meeting in Vancouver.

Most people attending the AGM at a downtown building easily accessible by transit are board members, labour leaders and media.

Only a few members of the public showed up.

Several reports printed for those attending remain on a table outside the theatre where CEO Mike Corrigan defended money spent on advertising.

He insists the taxpayer-funded monopoly does face competition for traffic which has dropped at least two per cent during the first fiscal quarter.

Total revenues for 2012 dropped from 2011. Last year's 738.2 million was down from 739.3 the previous year with fuel costs being  blamed for that drop.