The Canadian television industry faces a series of challenges, including declining production budgets, political uncertainty, and the rise of online streaming. Valerie Creighton, president and CEO of the Canada Media Fund, discusses the CMF's role in supporting Canadian content, the impact of the Online Streaming Act, and the future of Canadian television.
Canada’s television producers faced a challenging year as audiovisual production activity dropped to $9.6 billion from $11.8 billion. Now, they grapple with a series of uncertainties. The CBC, the largest commissioner of independent Canadian productions, awaits a renewed mandate from the current government or a new government with potential funding cuts. Adding to the pressure, American tariffs loom, and President Donald Trump may target the Online Streaming Act.
Despite these challenges, Valerie Creighton, president and CEO of the Canada Media Fund (CMF), remains optimistic about the future of Canadian television. The Globe and Mail spoke with Creighton about her outlook and the CMF's role in supporting the industry. \Creighton emphasized the importance of communicating the sector's impact to Canadians. She acknowledged that the industry, while experiencing a decline, still contributes $11 billion to Canada's GDP. The CMF, funded by federal tax dollars and telecom companies (BDUs like Shaw, Bell, and Rogers), invests in Canadian content creation. Historically, broadcasters initiated funding requests, but the CMF recently expanded eligibility to include distribution platforms. This shift recognizes the evolving media landscape and the need for a more inclusive funding model. \The Online Streaming Act, set to take effect in August, will require streamers to contribute 5 percent of their Canadian revenues, with 2 percent allocated to the CMF. However, the CRTC's decision to allow streamers to access 1.5 percent of this amount for Canadian content acquisition complicates the picture. While the Online Streaming Act is projected to generate $14 million for the CMF, this falls short of addressing the structural challenges facing the sector. Creighton highlighted the abundance of innovation and creativity in Canada but stressed the need to modernize outdated funding structures. \Despite these challenges, Creighton sees opportunities for collaboration between streamers and the Canadian system. She pointed to projects like 'The Umbrella Academy,' where Netflix partnered with Canadian broadcasters CBC and APTN, as successful examples. She expressed confidence that the government would uphold the cultural exemption in future trade negotiations, safeguarding Canadian content from potential US demands
CANADA MEDIA FUND ONLINE STREAMING ACT CANADIAN TELEVISION STREAMERS CRTC VALERIE CREIGHTON
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