Streaming services have to pay
The Canadian Press – June 4, 2024 / 6:23 a.m. | History: 490674
Photo: The Canadian Press
A person navigates the Canadian Radio-television and Telecommunications Commission (CRTC) online social media pages on a cellphone in Ottawa on Monday, May 17, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Online streaming services such as Netflix and Spotify are being asked to contribute money to local news and the production of Canadian content.
The Canadian Radio-television and Telecommunications Commission today ordered foreign broadcasters to pay five percent of their annual profits in Canada into a fund.
This fund will support the production of local television and radio news, indigenous content, French-language content and content created by people of diverse backgrounds.
According to the CRTC, the fund is expected to pump about $200 million into the Canadian broadcasting system each year.
Companies that are not affiliated with a Canadian broadcaster and that earn at least $25 million from Canadian broadcasting would be required to pay the fees.
The new policy aims to create a level playing field between technology giants and traditional broadcasters who already contribute to the production of Canadian content.
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