Move will let broadcasters keep $30 million
OTTAWA – While Canadian broadcasters have been working extraordinarily hard to deliver the news to Canadians during the Covid-19 crisis – and entertain them when they need diversion – this very crisis has caused revenue to bleed away from them as advertisers pull back facing an uncertain economy.
So, the federal government announced today a bit of a break, announcing it is waiving the payment of annual CRTC Part I licence fees for the 2020-21 fiscal year.
“The government knows that our Canadian broadcasters have been working around the clock to deliver news and information programming, while facing operational challenges and significant declines in advertising revenue,” reads Monday’s press release.
So, the federal government decided the CRTC will not issue letters requesting payment for Part I licence fees by broadcasters and instead, the government will transfer necessary funds to the CRTC to support its operations.
“Waiving these regulatory charges for broadcasters provides immediate financial relief for the broadcasting industry, freeing up more than $30 million in cash,” says the release from the Department of Canadian Heritage.
“The decision to waive the regulatory charges is one we could make quickly and we are working on more measures to support the industry,” added Minister of Heritage Steven Guilbeault (pictured) in the release. “We will continue to monitor the impacts of Covid-19 on all sectors, ensuring we remain well-positioned to respond to this rapidly changing environment.”
