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The day after his appearance at the CRTC hearings on online broadcasting services, the CEO of Quebecor, Pierre Karl Péladeau, urges the CRTC to quickly ease the regulations imposed on broadcasters here to give them more agility in the face of “streaming giants” who capture a growing share of audiences by escaping all these rules.
The big boss of Quebecor , who visited the studios of the show Tout un matin on Tuesday, on the airwaves of ICI Premiere, refuses to lower its flag in front of the global online broadcasting giants who drain advertising revenue from the industry.
Private televisions have only one source of income, and that is advertising. If you reduce it and even possibly destroy it, what do you think will happen? We will no longer have the means to invest, warns PKP.
Television is an extremely important vector […] to highlight the language, of course, but also all those who revolve around our cultural industry: theater, variety shows, song, those who write…< /p>A quote from Pierre Karl Péladeau, CEO of Quebecor
For the big boss of Quebecor, there is no doubt that general television or specialty television still has its place, even if its financial capacities have been significantly reduced.
Recall that TVA, struggling with significant revenue losses, announced on November 2 the elimination of 547 positions – 31% of its workforce – , the end of its internal production activities in entertainment content, the end of activities in the majority of regional stations and the rationalization of its real estate portfolio.
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Quebecor CEO Pierre Karl Péladeau after his appearance before the CRTC in 2021. (Archive photo)
Claiming to have repeated to the CRTC members what he had told them 12 years ago, Pierre Karl Péladeau deplores the regulatory burden that the organization imposes on private networks.
His conclusion is clear: regulation is killing our business.
The CRTC is currently holding a series of hearings to establish a new regulatory framework as part of the adoption of Bill C-11. It will notably discuss the contributions to Canadian content that foreign online broadcasters will have to make. Quebecor, Bell, Telus, Cogeco, Radio-Canada, Rogers, as well as Netflix, Google and Apple, among others, were summoned by the CRTC.
We are required to report, we have to pay royalties, we have to invest in the [Canadian Media] Fund, we have to distribute all kinds of channels that unfortunately few people watch. There is a cost linked to all of this, recalls PKP.
It’s imposition upon imposition upon imposition… And when we look at foreign companies, they have no obligation. They do what they want and we see our revenues decrease and our regulatory burden increase.
A quote from Pierre Karl Péladeau, CEO of Quebecor
Today, we have very important regulatory affairs departments. The regulatory burden is extremely heavy and, unfortunately, it has significantly impacted our financial capacity to invest.
When it is argued that, without regulation, Canadian networks could flood their schedule with American series, the boss of Quebecor retorts that his network does not need of Canadian emissions allowances.
We know very well what Quebecers want to see, he assures.