Canada’s House of Commons passed Bill C-11 in a bid to raise an estimated $800 million a year from US broadcasters and social media platforms as they are forced to subsidize film, television and local Canadian musicals.
The legislation behind the streaming video and audio tax now awaits passage through the upper house of the Senate in Ottawa, which remains under question mark as Canada’s ruling minority government could face election later this year and having to kill Bill C-11. A snap federal election in August 2021 ended an earlier version of streaming and audio tax legislation, Bill C-10.
The Canadian legislation aims to subject U.S. tech giants and other foreign players to the same content spending obligations as traditional broadcasters. This would require US digital giants doing business in Canada, such as Facebook, Netflix and Spotify, to fund and market local Canadian content.
Full article in English by Etan Vlessing for Billboard: https://bit.ly/3ymsLyb