Online streaming services like Netflix and Spotify are being told they must start contributing money toward local news and the production of Canadian content.
The Canadian Radio-television and Telecommunications Commission has directed foreign streamers today to pay five per cent of their annual Canadian profits into a fund.
That fund will be devoted to producing local TV and radio news, Indigenous content, French-language content, and content created by those with a diverse background.
The CRTC says the fund is expected to inject about $200 million into Canada’s broadcasting system every year.
Those responsible to pay would be companies that are not affiliated with a Canadian broadcaster that make at least $25 million from Canadian broadcasting.
The new directive is meant to level the playing field between tech giants and traditional broadcasters, which already contribute to producing Canadian content.
This report by The Canadian Press was first published June 4, 2024.
