The CBC is set to lose hundreds of millions of dollars in annual revenue as it cuts programming and increases costs.
That’s according to a new report by analysts at Cowen & Rand.
The report said the network is likely to see its ratings fall by a total of 1 per cent to 1.2 per cent.
CBC News is currently on a five-year contract with Rogers Communications.
The move to cut programming has been a longstanding issue for CBC, which has been losing subscribers in recent years.
The network has struggled to generate a sustainable advertising income.
It is the latest move in the battle to cut costs.
CBC’s latest operating budget is $4.8 billion.
Thats down from $5.4 billion in 2015.
The latest budget also included $1.1 billion to invest in new content initiatives, which is part of the $5 billion in new programming the broadcaster has been asked to cut.
It also comes as the corporation faces a budget crunch that is expected to grow in the coming years.CBC is currently facing a $5-billion budget deficit, and is struggling to keep the network operating on a stable financial footing.CBC News’ newsroom has been hit hard by the loss of subscribers and the cost of covering them.
CBCNews.ca and The National Post are among the news organizations CBC is expected lose subscribers to Rogers in the next five years.
The network has been cutting costs since it was founded in 1968.
It has also faced criticism for the way it operates.