Records revealed CBC television's ad revenues dropped by 16% in the first half of the year.According to Blacklock’s Reporter, Catherine Tait, the CBC CEO earning $497,000 per year, did not discuss the horrible ad numbers in her testimony to the Commons Heritage committee on November 2.“There is much to do to prepare CBC for an uncertain future,” testified Tait. “We are experiencing the same challenges as other media in Canada and around the world.”According to the Crown broadcaster's Second Quarter Financial Report, during the six months ending on September 30, year-over-year television ad revenues for both English and French programming declined by 16%, dropping from $95.7 million to $80.6 million.Managers blamed “lower demand and a softer TV market.”No recovery was expected for years, said Financial Report. “In response to the federal Budget 2023 announcement to reduce spending by three percent and in light of both the softening of the TV advertising market and the current economic environment, we are developing an analysis of the revised financial context that presents an updated version of our financial pressures including the adverse revenue outlook for the next three years,” it said.Revenue forecasts were “tracking below target” despite continued federal funding of $1.3 billion annually, the CBC’s largest single source of income. “We occupy an important place in the Canadian broadcasting system and face a unique set of risks,” said Financial Report. “Like all broadcasters, we must adapt to accelerated technological changes, shifts in demographics, evolving consumer demands, increasing regulatory scrutiny and structural changes in the media ecosystem.”Tait said the network needed additional subsidies during her appearance before the Heritage committee, which was her first since 2019.“To be clear, over the last 30 years, CBC has not had a real increase in its budget, real dollars aside,” Tait said. “We are flat.”Tait did not provide an explanation for her claim. According to Supplementary Estimates (B) budget documents, the CBC is set to receive $1.29 billion in federal funding this year, an increase from $1.25 billion the previous year.“When I started at CBC the number of people watching traditional television was at about 28%,” said Tait. “It has now dropped to 14%.”In a report to Parliament on December 12, the Commons Heritage committee stated Tait and other executives should waive their Christmas bonuses this year because of revenue losses.Records showed that 18% of CBC's 6,262 employees received annual bonuses, including Tait, who received a bonus exceeding $100,000 despite the network's financial losses.
Records revealed CBC television's ad revenues dropped by 16% in the first half of the year.According to Blacklock’s Reporter, Catherine Tait, the CBC CEO earning $497,000 per year, did not discuss the horrible ad numbers in her testimony to the Commons Heritage committee on November 2.“There is much to do to prepare CBC for an uncertain future,” testified Tait. “We are experiencing the same challenges as other media in Canada and around the world.”According to the Crown broadcaster's Second Quarter Financial Report, during the six months ending on September 30, year-over-year television ad revenues for both English and French programming declined by 16%, dropping from $95.7 million to $80.6 million.Managers blamed “lower demand and a softer TV market.”No recovery was expected for years, said Financial Report. “In response to the federal Budget 2023 announcement to reduce spending by three percent and in light of both the softening of the TV advertising market and the current economic environment, we are developing an analysis of the revised financial context that presents an updated version of our financial pressures including the adverse revenue outlook for the next three years,” it said.Revenue forecasts were “tracking below target” despite continued federal funding of $1.3 billion annually, the CBC’s largest single source of income. “We occupy an important place in the Canadian broadcasting system and face a unique set of risks,” said Financial Report. “Like all broadcasters, we must adapt to accelerated technological changes, shifts in demographics, evolving consumer demands, increasing regulatory scrutiny and structural changes in the media ecosystem.”Tait said the network needed additional subsidies during her appearance before the Heritage committee, which was her first since 2019.“To be clear, over the last 30 years, CBC has not had a real increase in its budget, real dollars aside,” Tait said. “We are flat.”Tait did not provide an explanation for her claim. According to Supplementary Estimates (B) budget documents, the CBC is set to receive $1.29 billion in federal funding this year, an increase from $1.25 billion the previous year.“When I started at CBC the number of people watching traditional television was at about 28%,” said Tait. “It has now dropped to 14%.”In a report to Parliament on December 12, the Commons Heritage committee stated Tait and other executives should waive their Christmas bonuses this year because of revenue losses.Records showed that 18% of CBC's 6,262 employees received annual bonuses, including Tait, who received a bonus exceeding $100,000 despite the network's financial losses.
