CBC/Radio-Canada’s third 2024–2025 quarterly report now available online

Press Release

Feb 28, 2025

Q3 Financial Highlights

• This quarter our revenue increased by 1.1%, mainly driven by higher digital advertising revenue with the shift of audiences and advertising spend to digital. This increase was slightly offset by lower TV advertising revenue as a result of a softer TV advertising market.
• Government funding recognized in income increased by 3.3%. This seasonal increase was consistent with our expected needs for operating funding in the quarter.
• Our expenses decreased by 5.1% mainly due to lower programming and content costs and project delays. In addition, pension expenses were lower, consistent with our expectations.

For the three months ended December 31	2024	2023	% change
Revenue	143,477	141,855	1.1
Government funding	336,724	325,894	3.3
Expenses	(468,075)	(493,057)	(5.1)
Results before other gains and (losses)	12,126	(25,308)	N/M
Other gains and losses	(170)	333	N/M
Net results for the period	11,956	(24,975)	N/M
N/M = not meaningful

Net results for the period were a gain of $12 million this quarter, compared to a loss of $25 million in the same period last year.

“This quarter, we saw a moderate increase in revenues, driven by stronger digital advertising revenue as audiences shift toward digital, while our TV advertising revenue continues to face pressure from challenging market and industry trends. Our expenses decreased as we continue to focus on managing costs effectively amid ongoing market conditions.”

– Carol Najm, Vice-President and Chief Financial Officer, CBC/Radio-Canada

Q3 Business Highlights

CBC/Radio-Canada hosted the 2024 Public Broadcasters International Conference in Ottawa this quarter, bringing together public media leaders from all around the world. We addressed significant issues confronting public media today, such as the rise of artificial intelligence and the fragmentation of audiences in the era of the global digital streamers and social media platforms. A full day focused on how to best serve and reach Indigenous Peoples. We announced a two-year extension of the Public Spaces Incubator and the addition of Australia’s ABC and Germany’s ZDF to the partnership, and launched the Ottawa Declaration, a call for action against disinformation.

During our Annual Public Meeting, Trust Talks: A New Era in Public Media, public media leaders from around the globe shared their insights on the importance of public broadcasting and what they believe are the biggest challenges facing public media today.

Collab, our national library partnerships program, continued to strengthen our presence in communities through diverse programming. Highlights included the CBC Massey Lectures in Iqaluit and The Fifth Estate’s 50th anniversary at the Toronto Public Library. Out Your Way, Radio-Biblio and Tire-toi une bûche also brought journalists to small rural Albertan, Franco-Manitoban and Fransaskois towns. El Kapoutchi hosted live children’s events in New Brunswick, youth AI engagement workshops were offered in Quebec City and cultural diversity and newcomers were celebrated at Bibliothèque Gabrielle Roy.

CBC/Radio-Canada’s 2024 holiday campaigns raised millions of dollars for local food banks and charitable organizations. The CBC campaign, which included 37 community events, raised $7.8 million for local food banks, while Radio-Canada events, such as Le Noël du coeur, contributed an additional $952,000 to local charities. Radio-Canada was also a major partner in the Media Food Drive in Quebec, an initiative that included media outlets from across the province and raised $5.1 million.

Additionally, the new CBC/Radio-Canada Community Map was launched to showcase our impact in communities across the country.

“This quarter has highlighted the benefits of CBC/Radio-Canada’s partnerships with other industry players and civic organizations. Whether we’re teaming up with public media organizations from other countries to fight misinformation and build trust, or forging local partnerships with producers, libraries and food banks, the public broadcaster is always ready to work with others to make a difference in the lives of Canadians.”

– Marie-Philippe Bouchard, President and CEO, CBC/Radio-Canada

To learn more about these and other third-quarter accomplishments, access the full version of our 2024–2025 Third Quarter Financial Report.

IBF4