In June 2023, Bill C-18, the Online News Act, received Royal Assent in Canada. The new law requires digital platforms to bargain with Canadian news businesses for the use of their news content on their services. To protest its passage, Meta – operator of Facebook, Instagram and others – threatened to block all access to Canadian news on their platforms altogether.
Following the law’s passage, media companies across the country withdrew their own advertising dollars from Meta’s platform. Public sector union, Unifor called on all levels of government to suspend their own ad spending, and one insurance company would appear to be following suit: Announced July 18, Beneva says it will also reduce its advertising spending on the platform “significantly” until further notice. The insurance mutual would appear to be the first in the industry to make such a statement.
The statement does not indicate how much Beneva spends or what “significantly” means, but the company says it plans to redirect the spending to Canadian media companies. “Beneva currently spends 65 per cent of Beneva’s advertising budget on Canadian platforms,” they write.
“In light of Meta’s reaction to Bill C-18, Beneva is joining the movement and will significantly reduce its advertising on the platform,” they state, adding that they disapprove of the decision to limit its plan members’ access to Canadian information.
