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Globe says Netflix hears Ottawa tweaking Cancon funding

2026-06-17 08:26 ET - In the News

See In the News (C-NFLX) Netflix CDR (CAD Hedged)

The Globe and Mail reports in its Wednesday, June 17, edition that the Trudeau-era Liberal ministers promoted the Online Streaming Act as a Robin Hood tale, taking money from Web giants to support struggling Canadian creators. A Globe editorial says the Carney government, however, recently announced plans to direct the CRTC to eliminate the need for foreign streaming platforms to fund local news and niche broadcasters, revealing the story was largely fictional. The CRTC raised the percentage of Canadian revenues that large streaming companies must pay to support Canada's cultural sector from 5 per cent to 15 per cent. This requirement, part of the Online Streaming Act, aimed to ensure Canadian content was "discoverable." However, due to tensions with the U.S. during USMCA renegotiations, reversing this decision seemed reasonable. Even if Canada wasn't in the midst of a head-splitting attempt at negotiation with a belligerent trade partner, the Online Streaming Act doesn't make much sense. It is an awkward attempt to reconfigure old Canadian content broadcast rules for the digital era. Forcing broadcasters to fund Canadian content made sense decades ago, but this approach doesn't apply to Netflix and Spotify today.

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