CBC-TV ad revenues continue historic collapse, falling 19% in 6 months

DM

CBC’s television ad sales have taken a freefall collapse, resulting in proposed programming cuts despite record subsidies, its CEO says. Television ad revenues for the six-month period to Sept. 30 fell from $91 million to $73.8 million — a 19% drop — compared to the same period last year, Blacklock’s Reportersays. The CBC blamed losses on “the pandemic’s adverse impacts on Canadian TV advertising spending.” A $1.3-billion-a-year parliamentary grant is the Crown broadcaster’s largest source of revenue. “We will continue to be there for it,” Heritage Minister Steven Guilbeault told the Commons on Nov. 18. “The CBC is a very important institution to Canadians from coast to coast,” said Guilbeault. “We strongly believe on this side of the House in the importance of the CBC and the role it plays in Canada.”

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