News > A Game Changer for the Music Industry

A Game Changer for the Music Industry

Moontricks at the Yukon Arts Centre in October 2023. Photo Credit: Mike Thomas

As part of the implementation of the Online Streaming Act, the CRTC announced it will be  requiring online streaming services to contribute 5% of their Canadian revenues to support the Canadian broadcasting system. These obligations will start in the 2024-2025 broadcast year and will provide an estimated $200 million per year in new funding.

The contributions will be directed to areas of immediate need, such as French-language content, Indigenous content and content created by and for equity-deserving groups, official language minority communities and Canadians of diverse backgrounds. Of the 5% levy required of online music streaming services, 5% will be dedicated to Indigenous content and the rest will be distributed via existing funds, including FACTOR and Musicaction.

This regulatory change represents a major milestone in the modernization of the Broadcasting Act and in Canadian cultural policy in general. The new contributions have been long awaited by the music industry. This is a new, ongoing source of funding that will keep up with inflation. This will have a lasting impact on the touring and presenting of live music!

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