CEO Catherine Tait made no mention of the Crown broadcaster’s decrease in advertising dollars during her Nov. 2 testimony before the House of Commons heritage committee.
“There is much to do to prepare CBC for an uncertain future,” Ms. Tait said, as reported by Blacklock’s Reporter. “We are experiencing the same challenges as other media in Canada and around the world.”
The CBC said its television ad revenue for the six-month period ending Sept. 30 declined more than $15 million, going from $95.7 million in 2022 to $80.6 million for the same period in 2023. The figure encompasses both English and French programming.
The report said advertising revenue decreased due to “lower demand and a softer TV market,” adding that more of the same can be expected for at least the next three years.
“Over the long-term, TV advertising revenue is decreasing as a proportion of our total source of funds, mainly as a result of the market’s shift to digital advertising platforms,” the corporation said.
The report said revenue forecasts were “tracking below target” despite federal funding of nearly $1.3 billion annually, the CBC’s largest income source.
“We occupy an important place in the Canadian broadcasting system and face a unique set of risks,” the report reads. “Like all broadcasters we must adapt to accelerated technological changes, shifts in demographics, evolving consumer demands, increasing regulatory scrutiny and structural changes in the media ecosystem.”
Ms. Tait, in testimony to the heritage committee, said the network needed more subsidies.
“To be clear, over the last 30 years, CBC has not had a real increase in its budget, real dollars aside,” she said. “We are flat.”
The broadcaster will receive $1.29 billion in federal funding this year compared to $1.25 billion in 2022, according to government budget documents.
The broadcaster announced Dec. 4 that it would cut roughly 600 jobs and would not fill 200 vacancies.
“Given the job cuts announced at CBC/Radio-Canada for the year 2024, it would be inappropriate for the CBC to grant bonuses to executive members,” said the report.
Records have revealed that 18 percent of CBC’s 6,262 employees received annual bonuses in the past, despite dipping revenue. Ms. Tait’s bonus alone could be worth more than $100,000, according to a CBC document.
The Epoch Times reached out to Ms. Tait’s office for comment but did not hear back by publication time.
