CRTC Data Shows Conventional TV’s Continued Decline in Revenue

September 3, 2024 TruthUSA

According to a recent report, traditional television revenues in Canada are on a downward trend while the popularity of streaming services is on the rise.

Data from the Canadian Radio-television and Telecommunications Commission (CRTC) shows that TV revenues decreased from $1.49 billion in 2022 to $1.38 billion last year, marking a more than 7 percent decline as reported by Blacklock’s Reporter.

Over the past decade, traditional television viewership has seen a consistent annual decline, with Canadians spending 28 percent less time watching TV.

The CRTC has been monitoring the decline in conventional television revenues for some time. A report from 2022 highlighted significant declines in Canada’s television programming rights over the past five years, signaling an “imminent” risk to the market.

In 2013, online advertising revenue surpassed TV ad sales for the first time, signaling the beginning of the erosion of traditional advertising. Advertisers have increasingly turned to data-driven targeted online options.

Bell CEO Mirko Bibic warned the House of Commons Heritage Committee in April that the company lost over $100 million in television advertising revenues due to the shift to digital formats.