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CBC television ad revenue dropped 16% in first half of 2023 as mainstream media flounders

Published

5 months ago

6 minute read

From LifeSiteNews

By Clare Marie Merkowsky

The news comes just weeks after the CBC announced it must lay off about 600 workers, approximately 10 percent of its staff, as it faces a $125 million budget shortfall.

The Canadian Broadcasting Corporation (CBC) television ad revenues plummeted by 16 percent in the first half of this year, a further indication that mainstream media is struggling to keep pace in the independent era.

According to information obtained December 19 by Blacklock’s Reporter, CBC, Canada’s public radio and television broadcaster, published their Second Quarter Financial Report which revealed that television ad revenues decreased from $95.7 million to $80.6 million in the first six months of 2023.

“There is much to do to prepare CBC for an uncertain future,” President and CEO Catherine Tait said. “We are experiencing the same challenges as other media in Canada and around the world.” 

The news comes after Tait failed to mention the reduced ad revenues at the November 2 Commons heritage committee. It is also just weeks after the CBC announced that it must lay off about 600 workers, approximately 10 percent of its staff, as it faces a $125 million budget shortfall.  

According to the report, from the beginning of the year until September 30, the CBC lost 16 percent of its television ad revenues for both English and French programming. The report further states that it does not expect a recovery from the loss for years. 

“In response to the federal Budget 2023 announcement to reduce spending by three percent and in light of both the softening of the TV advertising market and the current economic environment we are developing an analysis of the revised financial context that presents an updated version of our financial pressures including the adverse revenue outlook for the next three years,” it said.  

“We occupy an important place in the Canadian broadcasting system and face a unique set of risks,” the report stated. “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.” 

Despite its revenue “tracking below target,” the CBC receives major funding from the Liberal government under the leadership of Prime Minister Justin Trudeau. The government subsidies make up CBC’s largest single source of income, a fact that has become a point of contention among taxpayers who see the propping up of the outlet as unnecessary.

On November 2, Tait claimed that the CBC requires further government funding, saying “To be clear over the last 30 years CBC has not had a real increase in its budget, real dollars aside.” 

Tait’s comment seems unfounded considering the CBC was set to receive increased funding as a result of mandated deals signed with Big Tech under Trudeau’s Online News Act.  

The deal was finalized in early December. Under the new agreement, Google will pay legacy media outlets $100 million to publish links to their content on both the Google search engine and YouTube. 

As a result of the recent subsidies and the Google agreement, roughly half the salary of a journalist earning $85,000 is estimated to be paid by the combined contributions of the Trudeau government and Google. 

Furthermore, Trudeau recently announced increased payouts for legacy media outlets ahead of the 2025 election. The subsidies are expected to cost taxpayers $129 million over the next five years. 

Beginning in 2019, Parliament changed the Income Tax Act to give yearly rebates of 25 percent  for each news employee in cabinet-approved media outlets earning up to $55,000 a year, to a maximum of $13,750. 

However, the Canadian Heritage Department has since admitted that the payouts are not sufficient to keep legacy media outlets running. Accordingly, the Trudeau government doubled the rebates to a maximum of $29,750 annually, up to 35 percent of a journalist’s salary. 

Furthermore, despite being nominally unaffiliated with either political party in Canada, the CBC receives massive funding from the Trudeau government. According to its 2020-2021 annual report, the CBC takes in about $1.24 billion in public funding every year, which is roughly 70 percent of its operating budget. 

However, the massive payouts are apparently insufficient to keep CBC afloat amid growing distrust in mainstream media. 

According to a recent study by Canada’s Public Health Agency, less than a third of Canadians displayed “high trust” in the federal government, with “large media organizations” as well as celebrities getting even lower scores. 

Large mainstream media outlets and “journalists” working for them scored a “high trust” rating of only 18 percent. This was followed by only 12 percent of people saying they trusted “ordinary people,” with celebrities receiving only an eight percent “trust” rating. 

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Forget Tariffs: Biden Should Look to Domestic Mining to Thwart Chinese EVs

Published on May 25, 2024

By

Fr0m Heartland Daily News

By Rick Whitbeck

The Biden administration’s decision to raise tariffs on Chinese-manufactured electric vehicles, steel, computer chips, and other technological products is the epitome of a penny wise and a pound foolish.

To much of the nation, the news was a reelection flip-flop, or an attempt to prop up the electric vehicle industry Biden has prioritized since he took office, as part of his green agenda. The international supply chain for electric vehicles isn’t going to magically stop running through the Chinese Communist Party anytime soon.

If Biden really wanted to curb Chinese geopolitical power, he would make fundamental changes to his administration’s history of attacking domestic mining opportunities. Allowing development of copper, graphite, nickel, cobalt, and other critical and strategic minerals right here at home would go much further than imposing tariffs.

Biden has demonstrated affinity for promoting “net zero” policies and forcing transitions away from traditional energy supplies of oil, gas, and coal. In a nutshell, the attacks on domestic mining projects seem completely counterproductive.

According to the International Energy Agency, staggering quantities of subsurface elements will need to be mined by at least five times their current worldwide production by 2040 to meet the Biden administration’s green energy goals. Graphite, cobalt, and lithium all will be needed in quantities exceeding 25 times (or more) their current supplies. In the next quarter century, we will need twice as much copper than has been produced in the last 3,000 years. All of which is impossible when Biden won’t let us dig.

The U.S. has tremendous opportunities to have our own mineral resources. Yet, the Biden administration has thwarted their development at nearly every turn. For example, massive copper and nickel deposits could be developed in Minnesota at the Twin Metals and Duluth Complex projects, but Biden has ordered each of them off-limits for development. The Resolution Copper prospect in Arizona met a similar fate, with the Department of Interior placing on “indefinite hold” its approval.

The Western Hemisphere’s largest copper prospect is Alaska’s Pebble Mine. Kowtowing to environmental extremists—and ignoring a clean U.S. Army Corps of Engineers’ Final Environmental Impact Statement—the Environmental Protection Agency continues to stymie progress on a deposit worth more than $500 billion. All the while shutting down the possibility of 700 full-time jobs in an area of rural Alaska that has seasonal unemployment exceeding 20%.

Alaska has been the target of more than 60 administrative and executive orders targeting its resource-based economy since Biden assumed office. One of the most recent took place on Earth Day, when a congressionally-authorized road to the Ambler Mining District—an area rich in copper, zinc, and other strategic and critical minerals—was stopped by the Department of Interior.

Just like with the Resolution mine in Arizona, the Interior Department used “Indigenous opposition” as its deciding factor, even though many villages and tribes closest to the mining district publicly support the project and its future employment opportunities. In Alaska, the Biden administration literally blocks the road to the minerals Biden’s tariffs claim to protect.

Alaska’s governor, Michael Dunleavy, along with its entire congressional delegation, has been openly critical of the continued hypocrisy of the Biden administration when it comes to talking “net zero” and acting with vigor to oppose domestic mining projects. The same response has come from many within the Minnesota and Arizona congressional community. They’ve been unable to break through to the administration, as Team Biden chooses to listen to eco-activists and career bureaucrats with an anti-development agenda.

What would hurt China, empower America, and begin to chip away at the global imbalance would be mining and processing our crucial minerals and elements domestically. Let’s see if the Biden administration wises up to that fact, or if America tires of being subservient to the CCP and makes fundamental changes to federal leadership in November.

Rick Whitbeck is the Alaska State Director for Power The Future, a national nonprofit organization that advocates for American energy jobs and fights back against economy-killing and family-destroying environmental extremism. Contact him at [email protected] and follow him on X (formerly Twitter) @PTFAlaska

This article was originally published by RealClearEnergy and made available via RealClearWire.

To read more about domestic mining to escape reliance on China, click here.

To read more about clean energy and mining, click here.

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Business

Government red tape strangling Canada’s economy

Published on May 23, 2024

By

From the Fraser Institute

By Kenneth P. Green

The cost of regulation from all three levels of government to Canadian businesses totalled $38.8 billion in 2020, for a total of 731 million hours—the equivalent of nearly 375,000 fulltime jobs.

One does not have to look too deeply into recent headlines to see that Canada’s economic conditions are declining and consequently eroding the prosperity and living standards of Canadians. Between 2000 and 2023, Canada’s per-person GDP (a key indicator of living standards) has lagged far behind its peer countries. Business investment is also lagging, as are unemployment rates across the country particularly compared to the United States.

There are many reasons for Canada’s dismal economic conditions—including layer upon layer of regulation. Indeed, Canada’s regulatory load is substantial and growing. Between 2009 and 2018, the number of regulations in Canada grew from about 66,000 to 72,000. These regulations restrict business activity, impose costs on firms and reduce economic productivity.

According to a recent “red tape” study published by the Canadian Federation of Independent Business (CFIB), the cost of regulation from all three levels of government to Canadian businesses totalled $38.8 billion in 2020, for a total of 731 million hours—the equivalent of nearly 375,000 fulltime jobs. If we apply a $16.65 per-hour cost (the federal minimum wage in Canada for 2023), $12.2 billion annually is lost to regulatory compliance.

Of course, Canada’s smallest businesses bear a disproportionately high burden of the cost, paying up to five times more for regulatory compliance per-employee than larger businesses. The smallest businesses pay $7,023 per employee annually to comply with government regulation while larger businesses pay a much lower $1,237 per employee for regulatory compliance.

And the Trudeau government has embarked on a massive regulatory spree over the last decade, enacting dozens of major regulatory initiatives including Bill C-69 (which tightens Canada’s environmental assessment process for major infrastructure projects), Bill C-48 (which restricts oil tankers off Canada’s west coast) and electric vehicle mandates (which require all new cars be electric by 2035). Other examples of government red tape include appliance standards to reduce energy consumption from household appliances, home efficiency standards to reduce household energy consumption, banning single-use plastic products, “net zero” nitrous oxide emissions regulation, “net zero” building emissions regulations, and clean electricity standards to drive net emissions of greenhouse gases in electricity production to “net zero” by 2035.

Clearly, Canada’s festooning pile of regulatory red tape is badly in need of weeding. And it can be done. For example, during a deregulatory effort in British Columbia, which appointed a minister of deregulation in 2001, there was a 37 per cent reduction in regulatory requirements in the province by 2004.

Rather with plowing ahead with an ever-growing pallet of regulations to be heaped upon Canadian businesses and citizens, government should reach for the garden shears and start reducing the most recent regulatory expansions (before they have time to do too much harm), and then scour the massive strangling forest of older regulations.

Whacking through the red tape would go a long way to help Canada’s economy out of its dismal state and back into competitive ranges with its fellow developed countries and our neighbours in the U.S.

Author:

Kenneth P. Green
Senior Fellow, Fraser Institute
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