CRTC says streamers must pay three times as much for Canadian content

The logo for Spotify appears above the post where it trades on the floor of the New York Stock Exchange on Wednesday, April 4, 2018. (AP Photo/Richard Drew)

The Canadian Radio-television and Telecommunications Commission issued a new decision on Thursday, requiring digital streaming giants to pay three times as much of their Canadian revenue towards the broadcasting system as before, as the U.S. continues to mark the Online Streaming Act as a trade irritant.

Digital streaming giants, including Netflix or Disney+, were previously required to contribute five per cent. But Thursday’s decision by the CRTC sees that jump to 15 per cent.

The move is part of a massive modernization of the Broadcasting Act, aiming to build a $2-billion fund that supports Canadian and Indigenous content.

This is a breaking story. More to come...