Canadian subsidies fund Hollywood spending: study
Source : Globe & Mail
Oct 24, 2001
Tax-funded subsidies to support Canadian television have helped finance a buying spree in Hollywood, a new study concludes. Private TV broadcasters have increased spending on U.S. and foreign programming by more than 50 per cent since 1994 while reducing spending on Canadian programming over the same period, the Friends of Canadian Broadcasting said yesterday. Broadcasters spent $449.5-million on foreign programming last year, up 54 per cent from 1994. During the same period, private funding for Canadian TV fell 6 per cent to $506.1-million. Meanwhile, funding from government and the public has doubled during the period, from $75.6-million for the year ended March 31, 1994, to $227.5-million in fiscal 2001.
