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CRTC Releases 2024 Financial Results for Cable, IPTV and Satellite Providers

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  • The Canadian Radio-television and Telecommunications Commission today released statistical and financial information on Canadian cable, Internet Protocol television (IPTV) and satellite companies for the year ending on August 31, 2024.

    In 2024, Canadian cable, IPTV and satellite companies reported a slight decline in revenues of $11.8 million (0.1%) to $8.9 billion, while expenses increased by 1.3% to $7.2 billion.  As a result, the operating margin decreased to its lowest level in five years, but remained healthy at 19%. These companies employed 27,244 in 2024, down 6.3% from 2024.

    The overall number of subscribers decreased from 11.4 million in 2024 to 11.2 million in 2024, continuing a two-year trend.  However, the average total revenue per subscriber increased from $65.25 in 2024 to $66.08 per month in 2024. IPTV companies continued to grow reporting double-digit increases in subscribers for 2024.

    Spending by television service providers on the creation and production of Canadian-made content decreased by $38.1 million in 2024 to $436.9 million.  Of this amount, $219.6 million was directed to the Canada Media Fund, $64.7 million to independent funds and$152.6 million to community channels and other sources of local content.

    Quick facts

    • In 2024, cable and IPTV companies reported revenues of $6.6 billion from programming services. This total represents an increase of 1.7 % from $6.5 billion in 2024.
    • Satellite companies’ revenues decreased by 5.2% from $2.4 billion in 2024 to $2.3 billion in 2024.
    • The number of Canadian households that subscribed to a cable or IPTV company increased from 0.3% to 8.9 million.
    • The number of Canadian households that subscribed to a satellite company’s television service decreased by 7.2% from 2.6 million to 2.4 million.
    • The operating margin for cable and IPTV companies increased from 15.8% in 2024 to 16.1% in 2024.  The operating margin for the satellite companies decreased from 32% in 2024 to 27.7% in 2024.
    • Operating expenses for the cable, IPTV and satellite companies increased by 1.3% from $7.1 billion to $7.2 billion.
    • In 2024, cable and IPTV companies spent over $2.6 billion on affiliation payments for the pay and specialty services they carry. This total represents a 5.7% increase compared to the $2.5 billion spent in 2024.
    • Satellite companies’ affiliation payments decreased by 2.9% from $809 million in 2024 to $786 million in 2024.

    The CRTC’s report on cable, IPTV and satellite companies does not include information on Internet access, telephone services and other non-programming items. The CRTC will publish information on these services in the upcoming edition of the Communications Monitoring Report, in fall 2024.