Our government is making sure that tech giants pay their fair share for the news they benefit from.
While the number of newsrooms and journalists declined over the past decade, tech giants received 80% of the online advertising revenue, amounting to $10 billion a year.
To protect Canada’s newsrooms and journalists, we tabled the Online News Act, which received Royal Assent on June 22, 2023. This act created a bargaining framework to ensure that tech giants are compensating news businesses fairly.
This week, we announced our path forward with Google and their participation in the Online News Act.
Google will contribute $100 million per year, indexed to inflation, to support news access and newsrooms in Canada, including Indigenous and official-language minority communities.
This is a historic announcement. This is good for platforms and their users. This is good for Canada.
We can be very proud that we are ensuring that reliable, quality, and local news remain available online because Canadians and our democracy deserve it.