Surprise surprise! The CBC is losing money on yet another venture.
The Globe and Mail is reporting that CBC Music — a web-based digital music portal launched in February — is poised to lose about $5 million this year. Moreover, according to the Globe, they don't expect to be in the black for the foreseeable future.
Heritage Minister James Moore defended the music service's paltry financial record in a tweet to Sun News reporter David Akin on Thursday evening.
"CBC mandate in Broadcast Act, their funding approved by Parliament, and their programming decisions are (sic) ams-length," he wrote.
[ Related: Canadian Heritage Minutes are making a comeback ]
If you haven't been on the site, you should. It's actually quite impressive with its web radio stations, video concerts, and as many as 12 genres of on demand music — and hey, it's all free (except for our tax dollars, of course).
The free-service has, however, upset private on-line digital music providers in Canada.
This past Spring,Read More »from Tough times may be ahead for the CBC