CBC still under ‘immense’ financial pressure despite BILLIONS in taxpayer funding

According to a briefing from the Department of Canadian Heritage, the network has been severely impacted by the ongoing health crisis, along with the challenges that come with covering it.

CBC says that the Tokyo Olympics' postponement also affected their bottom line.

The broadcaster also received 21 million for operational support, on top of receiving a $1.2 billion annual grant from Ottawa.

Staff said the ongoing bailout was required "in order to support Canada's public broadcaster and ensure it can continue to report local and national news," reports Blacklock's.

The CBC has not disclosed a financial statement since December 31.

Revenue issues have plagued the CBC in recent years, with Canadians opting for other news outlets. A recent survey found that just 28 percent of the Canadian population consider CBC radio important, and more people prefer commercial radio by a margin of more than two to one.

"Commercial radio listeners are generally satisfied with the listening experience," the research study found. "Many listen to commercial radio going to and from work, at work, and some listen at home."

"By far the most common thing commercial radio listeners like about it is that it is free of charge," the study concluded. "Three in ten cited the convenience and simplicity, or the connection it gives them to their local community."