In 2022, the private television industry had a combined net loss of about $350 million after taxes, compared to about $160 million in 2021. Last year’s losses are more than five times its losses in 2020.
“The difficulties facing broadcasters as their audiences fragment and [as a result of] cord cutting has been discussed extensively,” James Nadler, an associate professor of media production at Toronto Metropolitan University, said in an email to The Epoch Times. “Cord cutting” refers to viewers cancelling their subscriptions to multichannel cable or satellite television services.
To make up for losses, Nadler said, “Canadian broadcasters like Corus, Bell and Rogers generate income from other services they provide to consumers.” That includes phone internet, and free ad-supported streaming television (FAST TV).
The dip in profitability does not appear to have significantly affected the industry’s staffing. The money spent on salaries and other staff benefits has risen, from about $450 million in 2020 to almost $500 million in 2022. Canada’s private television industry employs about 4,700 Canadians.
