CBC demands more money from Trudeau after ad revenue plummets again

DM

CBC advertising revenues plummeted again in 2020. This comes after Canada’s Heritage Ministry admitted that a half-billion dollar bailout to mainstream media and other newspapers did not create jobs as promised. CBC’s ad revenues totaled $208.4 million last year, a decline of 18 percent compared to the previous year, according to Blacklock’s. Advertising sales overall are down a third over the past decade, marking its loss of exclusive broadcasting rights to Hockey Night In Canada to Rogers Communications. The loss of exclusive NHL broadcasting rights in 2014 ended a 65-year CBC monopoly of Hockey Night In Canada. The current Rogers Communications Inc. license runs to the 2026 season. The Crown broadcaster said it needed more federal grants to offset commercial losses. “Advertising revenue from conventional TV will continue to be under pressure,” management wrote in a CBC Corporate Plan Summary 2021-2025. The plan said “without additional funding, program spending in future years will have to be reduced to match available resources and some services will have to be reduced.” The recession was to blame, wrote staff.

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