Canadian television funding for scripted shows and children’s programming is set to decline steeply in the near future.
According to a recent report conducted by Nordicity for the Director’s Guild of Canada, Canadian scripted shows, children’s programming, and documentaries are projected to receive a drop in nearly $200 million worth of financing from Canadian broadcasters over the next five years.
The report also warns that this could result in Canadian production budgets being slashed by as much as $1 billion.
Nordicity examines how broadcasters like Corus Entertainment and Bell Media allocate funds for “Programs of National Interest” (PNI), such as dramas, comedies, children’s shows, and documentaries, under current CRTC policies. Currently, broadcasters must allocate a certain percentage of their yearly revenue to the programming mentioned earlier.
According to Yahoo News, if Canadian broadcasting revenue continues to decline as the market projects, the report estimates it will drop to $167 million by 2028, a 23 percent drop from the $216 million spent in 2023.
A spokesperson for Corus Ent. told Yahoo News that funding for all genres of Canadian television has declined due to “unregulated foreign competition.” This would include streaming services like Netflix, Disney+, Paramount Plus, etc.
In 2024, the CRTC mandated that foreign streaming platforms allocate 5 percent of Canadian revenues to a fund supporting Canadian content. Currently, large streamers like Netflix, Disney, and Paramount have challenged the mandate in the Federal Court of Appeals.
Dave Forget, the executive director of the Directors Guild of Canada, warns that reducing funding for PNI can have further economic consequences.
According to Forget, each dollar invested in production could generate up to six times its initial value through global licensing, tax credits, and additional financial support.
Currently, the CRTC is weighing options on reducing or eliminating funding for PNI. They allowed Corus Entertainment’s request to reduce their spending on PNIs to 5 percent of their revenue, trimming at least $35 million in spending.
Source: Yahoo! News, Nordicity
Image Credit: Shutterstock
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