Use code TPM for up to 66% off at MyPillow.com

ADVERTISEMENT

Head of CBC calls news outlet 'a beacon of truth' as ad revenue continues to plummet

Advertising revenue between March 30 and September 30 declined from $91 million to $73.8 million.

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

CBC-TV advertising revenue has plummeted 19 percent in six months and that the network is considering programming cuts, according to Blacklock's Reporter.

Advertising revenue between March 30 and September 30 declined from $91 million to $73.8 million. According to CBC, the drop was due to a general decline in advertising revenue accrued by television networks during the pandemic.

Despite the drop in advertising revenue, the CBC still continues to source most of their revenue from the government, which spends $1.3 billion on the broadcaster annually.

"We have implemented a financial contingency plan that includes reducing operating expenses, significantly postponing capital expenditures and managing programming expenses to offset expected revenue losses," wrote CBC CEO Catherine Tait in a financial statement.

"The duration and severity of the pandemic may adversely impact the ability of the corporation to meet all of its programming obligations," Tait's report continued. "It is anticipated the effects of COVID-19 will persist into fiscal year 2021-2022 including continued economic pressures and programming disruptions."

Tait defended CBC's funding before the Commons Heritage Committee in 2019, insisting without evidence that CBC is Canada's most trusted news outlet. "At a time when disinformation is undermining trust in our institutions and democracy, we remain Canadians’ most trusted source of news and information," she argued.

Tait compared CBC's role in news broadcasting to the role similar public broadcasters play in other countries, stating "when I meet with other public broadcasters in Paris or London or by telephone with Australia, we are all facing the same challenge which is how to protect and defend or citizenry from this unbelievable tsunami of disinformation."

Tait further described CBC as a "beacon of truth."

When asked if government funding is essential to CBC by a Liberal MP, Tait responded by saying "yes it is essential." She did not explain why Canada's "most trusted source of news" could not survive on its own.

ADVERTISEMENT
ADVERTISEMENT
N/A by N/A is licensed under N/A

Join and support independent free thinkers!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.

Support The Post Millennial

Remind me in September

We will use this to send you a single email in September 2020. To find out what personal data we collect and how we use it, please visit our Privacy Policy

ADVERTISEMENT
ADVERTISEMENT
By signing up you agree to our Terms of Use and Privacy Policy
ADVERTISEMENT
© 2022 The Post Millennial, Privacy Policy