CBC/Radio-Canada’s third 2025–2026 quarterly report now available online

Press Release

Q3 Financial Highlights

• This quarter, our revenue decreased slightly by 0.4%, primarily due to lower TV advertising revenue as a result of softening demand and competition in the market. This was partially offset by higher other revenue mostly driven by contributions for our news content under the Online News Act, alongside growth in digital platform subscriptions.
• Government funding recognized in income this quarter increased by 5.4%. This increase was consistent with our expected needs for operating funding in the quarter.
• Our quarterly expenses grew by 6.2%, reflecting higher programming and digital activity to support news coverage, as well as increased production and licensing costs.

	Third quarter ended December 31			Year-to-date ended December 31
	2025	2024	% change	2025	2024	% change
Revenue	142,869	143,477	(0.4)	365,891	439,268	(16.7)
Government funding	355,011	336,724	5.4	1,059,033	1,038,942	1.9
Expenses	(497,172)	(468,075)	6.2	(1,368,314)	(1,406,289)	(2.7)
Results before other gains and (losses) and income taxes	708	12,126	(94.2)	56,610	71,921	(21.3)
Other gains and (losses)	38	(170)	N/M	(326)	(315)	3.5
Results before income taxes	746	11,956	(93.8)	56,284	71,606	(21.4)
Income tax expense	(23,167)	–	N/M	(23,192)	–	N/M
Net results for the period	(22,421)	11,956	N/M	33,092	71,606	(53.8)

N/M = not meaningful

For the third quarter and on a year-to-date basis, Net results for the period were a loss of $22.4 million and a gain of $33.1 million, respectively, compared to a gain of $12.0 million and $71.6 million in the same period last year. These results are further explained below.

“While our third-quarter results reflected television revenue challenges consistent with broader industry trends, our year-to-date results remain positive. We are aligning our spending with operational priorities and executing our new strategy, CBC, Here for Canada, by investing in digital agility and content that brings Canadians together, ensuring we continue to deliver strong public value.”

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

Q3 Business Highlights

On October 28, CBC/Radio-Canada launched its 2025-2030 Corporate Strategy, CBC, Here for Canada. The new strategy aims to transform Canada’s public broadcaster into an essential public media service for all Canadians. Its three pillars — proximity, digital agility and bringing people together — focus on delivering value for Canadians by strengthening local services, making services more discoverable and relevant, and fostering connections across communities.

CBC/Radio-Canada also continues to invest in digital applications to serve Canadians who increasingly are shifting their media habits toward digital platforms. This quarter, CBC/Radio-Canada digital services reached 64% of internet users in Canada. Over 20.8 million Canadians used our digital services on websites, apps, streaming platforms, connected TVs and YouTube. Currently, 8.4 million Canadians have active accounts on CBC and Radio-Canada digital services: 6.0 million with CBC and 2.4 million with Radio-Canada, including CBC Gem and ICI TOU.TV. An estimated 4.0 million Canadians regularly use our streaming services each month.¹

In December, CBC/Radio-Canada and the Australian Broadcasting Corporation announced the renewal of their partnership. The new three-year Memorandum of Understanding between the national public broadcasters will give people in both countries a wider diversity of documentary, natural history, and children and youth programming. It’s Andrew!, the latest co-production resulting from this partnership, is now available on CBC Gem and is airing on CBC TV. The French-language version, C’est Andrew!, will premiere on ICI TOU.TV and ICI TÉLÉ in 2026.

Together with the Canadian Olympic Committee, CBC/Radio-Canada launched the “Brave is Unbeatable” campaign for Milano Cortina 2026. The campaign showcases the stories of Team Canada athletes such as Sidney Crosby and Marie-Philip Poulin. The joint “Where It Begins” campaign was also unveiled by CBC/Radio-Canada and the Canadian Paralympic Committee to celebrate the journeys of Para athletes in advance of the upcoming Paralympic Winter Games.

The Corporation’s latest environmental sustainability report, released in December, highlighted reduced water and energy consumption, including a 55% drop in travel-related greenhouse gas emissions and a 21% reduction in total greenhouse gas emissions compared to 2019–2020 levels. The report tracks progress in greening our services for Canadians and contributing to an environmentally sustainable production sector in Canada.

Finally, CBC/Radio-Canada holiday campaigns raised millions for communities across the country. CBC’s Make the Season Kind fundraiser raised $8.3 million for food banks, while Radio-Canada led numerous initiatives across Canada, bringing in nearly $1 million. Radio-Canada also returned as a lead partner for the Media Food Drive in Quebec, which raised a record $5.6 million.

To learn more about these and other third-quarter accomplishments, access the full version of our 2025–2026 Third Quarter Financial Report.

1. Source: Internal data (Login Radius). Registration numbers are based on the active registered users for the past 24 months, as of December 31, 2025. Users of streaming services are estimated using internal data (Adobe Analytics) and calculated using a monthly count of unique machines accessing video and audio content during the quarter, October-December 2025.

Media contact:

Emma Iannetta

Senior Specialist, Media Relations
CBC/Radio-Canada
emma.iannetta@cbc.ca

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