The Canadian Radio-television and Telecommunications Commission (CRTC), also known as CRTC, in Canada, is preparing to collect a 5% revenue share from video streaming service providers. The CRTC is exercising its authority under the new Online Streaming Act, which will take effect in 2023, to modernize the existing Broadcasting Act to align with the times. What the CRTC will do is collect a 5% revenue share from providers in Canada who offer streaming services to support television activities in the country, such as local news, French-language news, and news for minority groups.
The revenue collection is set to commence in 2024-2025, with an estimated revenue of $200 million Canadian dollars per year. This plan has received support from the Canadian regulator association, as they see it as a way to fund content production in the country. However, there are concerns that this may lead to increased costs for streaming packages, as providers may pass on these costs to consumers.
The Canadian motion picture association, Motion Picture Association Canada, which includes members like Netflix and Disney+, has expressed disappointment with this plan and indicated that it may have implications for streaming audiences in Canada.
(Source: CRTC, CBC)
TLDR: The CRTC in Canada is set to collect a 5% revenue share from video streaming service providers to support television activities in the country, but there are concerns about potential cost increases for consumers.
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