Online streaming services such as Netflix and Spotify have been told they must start investing money into local news and the production of Canadian content.
The Canadian Radio-television and Telecommunications Commission today directed foreign streaming services to deposit five per cent of their annual profits in Canada into a fund.
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The fund will be used to produce local television and radio news, Indigenous content, French-language content and content created by people of diverse backgrounds.
The CRTC said the fund is expected to inject about $200 million into Canada's broadcasting system each year.
Responsible for paying the fees are companies not affiliated with the CBC but that earn at least $25 million from Canadian broadcasting.
The new directive aims to level the playing field between tech giants and traditional broadcasters, which already contribute to the production of Canadian content.
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