Madam Speaker, I want to share a few statistics. Fully 98% of Facebook's total revenue comes from advertising sales; Google and Facebook take 80% of all digital ad spending; and Meta, the company that owns Facebook, generated $193 million in revenue in 2021, thanks to journalistic content, of course.
Meanwhile, let us remember that local and regional media are scraping to get by. However, we know that, if there were a framework that forced that revenue to be shared, then according to a 2020 News Media Canada report, publishers could recoup $620 million, which could support 700 journalists.
Let us also remember that, in Canada, Facebook earns 35 to 58 times more from media outlets than it pays them.
Is that not a clear imbalance and a gross injustice?