TV industry loses money for first time in 30 years as conventional television revenues continue to plummet

For the first time in at least 30 years, the Canadian television industry has lost money. According to new data released by Statistics Canada, before interest and taxes, the industry collectively lost $65 million. The decrease is more than a 200 per cent plummet from the sector’s $63 million profit in 2024. Although it's the first time profits before deductions were in the negative column, net profits (before income taxes) in 2023 and 2024 were also unprofitable, according to the data, which goes back to 1995 for the collective industry. Last year, net loss before income taxes was $210.7 million, preceded by $283.3 million in 2024 and $118.4 million in 2023. The collective industry raked in $6.1 billion in operating revenue last year, which was outmatched by $6.3 billion in expenses, equaling a net operating loss of $162 million. In 2024, net operating losses were $19.4 million, after operating revenues of $6.32 billion were squandered by $6.34 billion in expenses. The first-ever feat can be attributed entirely to the private conventional television sector, which, before interest and taxes, lost a staggering $511 million. Although every other sector included in the data – specialty TV, pay TV, and public and non-commercial TV – made money, it was not enough to balance it out. Before interests and taxes, public and non-commercial TV made $45.5 million, pay TV made $12.4 million, and specialty TV blew them both out of the water with $388.6 million in profits. In fact, the private conventional sector has not been pulling its weight in the collective for over a decade. Its first year in the red before interest and taxes was 2009. The second time came in 2013. The sector has lost money every year since. The net loss after income taxes outlook is even grimmer. After first finding the negative column in 2006, it has never recovered. The worst year on record is 2023, with a post-income tax loss of $416.9 million. Since 1990, specialty television and pay television have been profitable every year, though the latter cut in close in 2015 with a pre-tax profit of only $60,000. Since 1995, public and non-commercial TV has had fewer positive years than negative, only making a pre-tax profit in 10 years. Its pre-income tax net profits hold a slightly better track record, bringing in a profit in 14 years. Altogether, the industry’s profit before taxes and interest peaked in 2011, at more than $1 billion, but pre-income tax net profits were highest in 2013, at $994.1 million. The Canadian Association of Broadcasters did not immediately respond to The Wire Report’s request for comment. mcollins@thewirereport.ca

TV industry loses money for first time in 30 years as conventional television revenues continue to plummet

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By Maria Collins
|June 26, 2026

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TV industry loses money for first time in 30 years as conventional television revenues continue to plummet

Broadcast | By Maria Collins |June 26, 2026

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