Music Canada, which represents giants like Sony Music, Universal Music and Warner Music, has written a letter to the CRTC urging the regulator not to get confused between radio and streaming. They're worried that profitable companies will have to pay 5% of their earnings into a fund to pay for Canadian content and to support Canadian radio. 

"Under that plan, 1.5% of music streamers’ revenue would go towards subsidies for local radio stations...

Both music and video streaming companies have vocally opposed the plan, with some music streamers saying it’s fundamentally unfair to require streaming services to subsidize radio stations, which are effectively their competition."

They believe CanCon regulations have worked and that there's no need to siphon money out of foreign firms to ensure the locals get even more funding. 

“Three of the top 10 songs streamed in India in 2022 were by Canadian artists – a fact that would be inconceivable to the founders of our terrestrial broadcasting system,” the letter stated.

More here.