07:01:45 EDT Fri 04 Jul 2025
Enter Symbol
or Name
USA
CA



Netflix CDR (CAD Hedged)
Symbol NFLX
Shares Issued 2,150,000
Close 2024-07-04 C$ 26.64
Market Cap C$ 57,276,000
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Globe says Netflix, rivals set to battle C-11's mandate

2024-07-05 06:57 ET - In the News

Also In the News (C-AAPL) Apple CDR (CAD Hedged)
Also In the News (C-AMZN) Amazon.com CDRs (CAD Hedged)

The Globe and Mail reports in its Friday edition that foreign streaming platforms such as Netflix, Amazon and Spotify have commenced Federal Court challenges against the implementation of Ottawa's Online Streaming Act or Bill C-11. The Globe's Marie Woolf writes that Bill C-11 would require streaming platforms to invest millions into Canada's broadcast sector. The challenges could delay the implementation of the act, compelling foreign streaming giants to pay about $200-million annually to support Canadian music, TV, film and radio. The Motion Picture Association-Canada (MPAC), which represents Netflix as well as Hollywood studios such as Paramount, Universal and Warner Bros. Discovery, this week launched dual legal challenges in Federal Court to decisions by the Canadian Radio-television and Telecommunications Commission, which is implementing the act. The music streaming platforms Amazon, Apple and Spotify also filed legal challenges in Federal Court over the CRTC's decision to compel them to make financial contributions in Canada under the act. The MPAC argues the CRTC's funding mechanism could lead to the disclosure of confidential financial information to Canadian broadcasters that its members compete with.

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