Canada’s private broadcasters see record losses in 2023: Statcan
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Statistics Canada released annual financial data for the nation’s television and radio broadcasting industry that showed record losses in 2023. Canada’s private conventional television broadcasters recorded losses of $417 million in 2023.
The industry has lost money in 17 of the past 18 years – totalling $2.8 billion in cumulative losses. Revenue generated by private conventional television dropped 7.5 per cent to $1.5 billion, the lowest in three decades outside of the pandemic year.
Revenue at pay and specialty channels were down 2.9 per cent to $3.86 billion, the lowest since 2010. Revenue generated by public and non-commercial broadcasters was down 6.7 per cent to $1.1 billion.
Canada’s radio broadcasters generated losses of $96 million in 2023.
