The Canadian government is stepping in to support Canadian music and media amidst debates around the Online Streaming Act.
This morning (June 3), the government announced that it will offer immediate financial support for music, audio and audiovisual media with a $600 million yearly investment. The release says funding will “provide stability and immediate support to Canada’s audio and audiovisual sectors and keep our culture accessible and affordable for all Canadians.”
Related
The mandate is a direct response to the Canadian Radio-Television and Telecommunications Commission (CRTC)’s recent announcement of plans to triple the base contribution rate that foreign streaming companies and Canadian broadcasters with a yearly revenue of over $25 million pay to Canadian Content, potentially raising it to 15%, up from the original 5%. The legislation has become a target of many U.S. politicians during negotiations of the CUSMA trade agreement between the two countries.
“Canadians should be able to see themselves in the films and series they watch and hear their lives reflected in the artists they listen to. That’s why we are investing to support the audiovisual and audio sectors now, while bringing necessary stability as we develop new directions that will ensure Canadian content remains affordable and that our stories continue to shape our identity and how the world sees us,” says Marc Miller, Canada’s Minister of Canadian Identity and Culture.
