Canadian Prime Minister Mark Carney has put a stop to a regulation that would have required U.S. streaming services such as Netflix Inc. (NASDAQ:NFLX), Amazon.com‘s (NASDAQ:AMZN) Prime and The Walt Disney Company‘s (NYSE:DIS) Disney+ to invest billions in Canadian television.
Carney said that the decision was influenced by concerns over affordability, suggesting that the levy would result in increased subscription costs for Canadian consumers, reported POLITICO on Wednesday.
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"This is not the time to make Canadians pay another C$50 ($35.94)," Carney told the publication.
Canada’s Liberal government announced a new policy under the Online Streaming Act that would require the broadcast regulator to revise rules, potentially reducing or eliminating contributions that U.S. streaming companies would otherwise have to make to support Canadian TV production and promotion.
