Online Streaming Services to Fund Canadian News and Local Content"

17 Jun, 2024

Online Streaming Services to Fund Canadian News and Local Conten

Online streaming services like Netflix and Spotify are now required to contribute financially towards local news and the production of Canadian content.

The Canadian Radio-television and Telecommunications Commission (CRTC) has mandated that foreign streamers must allocate five percent of their annual Canadian profits into a dedicated fund. This fund will support the creation of local TV and radio news, Indigenous content, French-language content, and content produced by creators from diverse backgrounds.

The CRTC anticipates that this initiative will inject approximately $200 million into Canada’s broadcasting system each year.

The financial obligation applies to companies that are not affiliated with Canadian broadcasters and generate at least $25 million from Canadian broadcasting activities.

This new directive aims to level the playing field between tech giants and traditional broadcasters, who already contribute to the production of Canadian content.