September 28, 2017
Netflix is Here to Save the Canadian Media Industry
Finally, some good news for the struggling media industry: Netflix (a.k.a. the bane of broadcasters’ existence) is investing some major moola into the Canadian economy. According to CBC News, at least $500 million in funding is going to be earmarked for original Canadian productions, though no there’s no word yet on how producers will be able to get their hands on it. CBC
What Else You Need to Know
For the past few years, Canadian broadcasters have been trying to convince the CRTC to impose a tax on Netflix in order to level the playing field. (Canadian media companies are required to produce a certain amount of Canadian content each year and spend a percentage of their profits on “programs of national interest.”) This investment by Netflix may appease those that were complaining (since they’ll hopefully benefit from the funds), and prevent Canadian Netflix users from having to shell out more dough for the streaming service. (Just one request: can that Canadian content include more of the Ryans?)
Heritage Minister Mélanie Joly is expected to announce the deal this morning, along with other plans for Canadian content and cultural industries, both of which have faced challenges in a constantly changing digital environment.