C-18 will generate over $329M/year for news orgs from tech giants, PBO reports

OTTAWA – The Parliamentary Budget Officer (PBO) is expecting Canadian news businesses will receive around $329.2 million per year in total compensation from digital platforms if Bill C-18, the Online News Act, is implemented, according to a cost estimate report for the bill released yesterday. For context, the heritage committee was told last month the Australian news media bargaining code is currently generating over $200 million for news businesses from digital platforms. In Canada, the PBO estimates the revenue generated from digital platforms will equal around 30% of the costs of content creation for news organizations. “For broadcasters, the cost of content...