Quebecor disappointed in federal budget’s lack of support for TV broadcasters

With the Canadian television industry facing headwinds, Quebecor Inc. CEO Pierre Karl Péladeau is disappointed that the federal government did not propose any measures to directly support private broadcasters in this week’s budget. Péladeau made his complaints while discussing the company’s third quarter results during a conference call Thursday, Nov. 6. He accused the feds of “completely our industry and a blind eye to the crisis that is hitting television broadcasting so hard.” “There is no tax credit for television journalism, no tax incentive for advertising in Quebec and Canadian media, and no information about when the digital services tax already paid by private broadcasters will be refunded,” said Péladeau. “Furthermore, CBC/Radio-Canada’s annual funding has been increased by $150 million without any requirement to eliminate advertising on its platform and to curb its unfair commercial competition with Canada’s private television broadcasters.” The measures were previously proposed by the CEO in a call to action released back in August, but he has been asking for them for much longer. “Regrettably, this new government has missed an opportunity to support an industry facing ever growing challenges and job losses at an alarming rate,” continued Péladeau. He also called on the Quebec government to introduce “concrete measures” to implement recommendations made in the report issued by its Working Group on the Future of Audiovisual Media in Quebec in September. Its long list of proposals are similar to those made by Péladeau, along with measures geared particularly towards Quebec and Francophone culture. Quebecor’s total revenues for Q3 2025 were $1.4 billion, a slight 1.1 per cent increase from last year’s $1.39 billion. Profit was $238.7 million, up 25.7 per cent from $190 million last year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 5.7 per cent to $628 million, up from Q3 2024’s $594 million. Quebecor pointed to its telecom segment as a key reason for the growth. Telecom revenues were $1.22 billion, up 1.1 per cent from $1.2 billion last year. Mobile wireless revenues were $449 million, a 6.4 per cent increase from $422 million last year; while internet services revenues were $311 million, up 1.1 per cent from $308 million. Reflecting Péladeau’s concerns about the broadcasting sector, TV services revenues declined by 3.2 per cent to $185.7 million from last year’s $192 million. Its media segment also went down to $152 million, a 1.9 per cent decline from $155 million in Q3 2024. The company’s sports and entertainment arm offset some of that shrinkage, however, increasing 6.7 per cent to $68.3 million, up from $64 million last year. The telecom segment, which includes services under Videotron, Freedom, and Fizz, reported a total net increase of 94,100 subscribers, representing a 1.2 per cent increase in the quarter. This growth was predominantly fuelled by the mobile market. Quebecor added 113,800 new connections to its mobile telephony services in Q3 2025 alone, representing a 2.7 per cent increase for the quarter. As of Sept. 30, 2025, the segment had 4.33 million mobile telephony connections. Internet subscriptions increased by 10,500 during the quarter, a modest 0.6 per cent gain. The company continued to shed customers in legacy services, with wireline telephony connections decreasing by 15,300, and TV subscriptions declining by 14,900 in the quarter. Despite the robust customer intake, mobile average revenue per unit (ARPU) saw a slight decrease. It was $35.05 in the third quarter of 2025, down 1.8 per cent from $35.71 reported in Q3 2024. This decline was attributed largely to higher promotional discounts offered to attract new users, lower overage revenues, and a shift in the customer mix, including the dilutive effect of its prepaid services from the Freedom and Fizz brands. phalentm@thewirereport.ca

Quebecor disappointed in federal budget’s lack of support for TV broadcasters

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By Phalen Tynes-MacDonald
|November 6, 2025

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Quebecor disappointed in federal budget’s lack of support for TV broadcasters

Broadcast | By Phalen Tynes-MacDonald |November 6, 2025

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By Phalen Tynes-MacDonald
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