OTTAWA – Disputing recent coverage from Postmedia and other outlets over the state of its finances, the CBC issued a press release Friday to set out some facts.
A recent Postmedia News article, reads the CBC release, carried by Sun newspapers across the country, says CBC’s TV ad sales are in “freefall,” citing a story on the Blacklock’s Reporter website.
“This is the latest example of something we are seeing more and more of — a few online outlets together amplifying the same inaccurate criticism of the public broadcaster, and CBC TV in particular. Again, in this case, the distorted Blacklock’s story is repeated by The Post Millennial, True North, and the Sun chain. We were not contacted for comment,” reads the release.
“Here are the facts. As we reported this week, in the second quarter ending September 30, 2020, CBC/Radio-Canada’s revenue decreased by 8.9% as a result of both a decline in TV advertising due to Covid-19, and declining subscriber revenue. Our expenses also decreased by 10.1% over the same period. ‘Freefall’? Hardly,” reads the CBC statement.
The public broadcaster’s release went on to remind the effects the pandemic is having on the whole of the economy, especially advertising-dependent businesses like broadcasters.
“An August report for the Canadian Association of Broadcasters found television ad revenue overall is down 44%. Newspapers too are struggling, some with revenue declines of 39%. This is bad news. Canadians need a healthy, diverse news ecosystem,” continues the release, which also pointed out how Google and Facebook now capture more than 80% of all digital advertising revenue in Canada, while CBC/Radio-Canada’s share is less than 0.5%.
“With our parliamentary appropriation, commercial revenue, and the hard work of our staff to trim costs, we have been able to maintain our programs and services to Canadians, including restarting all of our Canadian productions. This has been crucial to the survival of the cultural sector. We also continue to look for ways to work with our private sector news media colleagues to support our industry,” it continued, also adding: “Remember, at $34 per Canadian, per year, CBC/Radio-Canada not only delivers incredible value, it is still one of the lowest-funded public broadcasters in the world.
“Accurate news and information are more important than ever,” it concluded.
