PwC’s Global Entertainment & Media Outlook 2018-2022 predicts Canadian entertainment and media industry ad revenue is set to grow by 3.7 per cent per year through 2022

PwC’s Global Entertainment & Media Outlook 2018-2022 predicts Canadian entertainment and media industry ad revenue is set to grow by 3.7 per cent per year through 2022. Canada’s traditional television sector is expected to remain the fourth largest market globally by subscription revenues through 2022. Among the report’s findings are that advertisers are continuing to shift from traditional TV or print to internet advertising, which totalled $6.5 billion in 2017, up 10.6 per cent from 2016 due to an increase in mobile internet advertising.

Heritage Minister Melanie Joly has outlined the government’s Creative Export Strategy for creative industries, highlighted by a new $7 million-per-year Creative Export Canada fund. A budget allowance of $125 million over five years will be allocated across three key areas: existing Canadian Heritage programs, including increased funding for the Canada Arts Presentation Fund, Canada Book Fund, Canada Music Fund, Canada Periodical Fund, and Telefilm Canada; additional resources in key Canadian embassies and consulates, such as New York, Paris, London, Los Angeles, Berlin, Shanghai, Mumbai, Mexico City, Tokyo and Sydney, that will provide exporters with relevant information to help them better understand their target markets; and the new creative export funding program that will provide export-ready companies and organizations with funding to make it easier for buyers and audiences abroad to discover Canadian content. The maximum amount companies will be able to access under the fund is $2.5 million over five years.

Bell Canada has claimed top spot in PCMag’s The Fastest ISPs of 2018: Canada delivering the highest overall internet speed index ever recorded in Canada by the magazine at 115 Megabits per second. Atlantic Canada’s Bell Aliant took second place with 88.0 Mbps in the speed tests, while Rogers was a close third at 87.6 Mbps. PCMag’s conclusions were based on nearly 12,000 tests of Canadian internet service providers large and small between Sept. 2017 and June 2018.

Corus Entertainment shares plunged 19 per cent to $5.05, following release of the company’s Q3 2018 results. The parent company of Global TV, Corus Radio and a host of speciality channels is taking a billion-dollar non-cash write down on the value of its broadcast licenses citing “challenging television market conditions.” Consolidated revenues for the three months ended May 31 were $441.4 million, down four per cent from $461.6 million last year. Net loss attributable to shareholders for the quarter was $935.9 million ($4.49 loss per share basic and diluted), compared to net income attributable to shareholders of $66.7 million ($0.33 income per share basic and diluted) last year. Television segment revenues decreased five per cent in Q3 2018 and two per cent year-to-date; while ad revenue was down five per cent in the quarter. Radio segment revenues decreased two per cent in Q3 2018 and were flat for the year-to-date. 

Northwestel, Innovation, Science and Economic Development Canada, Infrastructure Canada, and the Government of Yukon are making a $79 million investment in high-speed internet, benefitting 63 Indigenous communities, in Yukon, Nunavut, the Northwest Territories and Northern BC. Funding will be used to build a 777-kilometre-long fibre network between Dawson City, YK, and Inuvik, NWT. The new fibre network line will also help close the 4,000-kilometre-long Canada North Fibre Loop.

The BC Association of Broadcasters (BCAB) has announced that its 72nd Annual Conference will take place May 14-16, 2019, at the Inn at Laurel Point in Victoria. For more information, visit www.bcab.ca.

Syndicat des Communications de Radio-Canada (SCRC), representing CBC/Radio-Canada employees in Quebec and Moncton, has rejected another contract offer. The union voted 78 per cent to reject the public broadcaster’s latest proposal, following its previous rejection vote Apr. 21. The union says creation of permanent positions, salary increases, and relaxation of temporary employee assignment rules are among the contract sticking points.