Montréal, February 23, 2021 - Pierre Karl Péladeau, President and CEO of Quebecor, and Jean-François Pruneau, President and CEO of Videotron, appeared this morning before the House of Commons Standing Committee on Industry, Science and Technology. In their remarks, they reminded the Committee of Videotron’s impact since it entered the Québec market as the fourth mobile carrier and the vital importance of maintaining a healthy competitive environment in the industry.
Videotron reiterated its firm commitment to the economic development of Québec and its regions. Network builders such as Videotron make a crucial contribution to Canada’s economy. The massive investments made year after year by telecommunications companies demonstrate that facilities-based competition works. Videotron is a prime example of the beneficial effects this model can yield. Videotron’s entry into the mobile market 10 years ago has made it possible for Québec consumers to pay less than consumers elsewhere in the country – 35% to 40% less, according to the Competition Bureau. According to the latest report from Innovation, Science and Economic Development Canada, Québec is the only province so far to have achieved the federal government’s 25% price-reduction target for most designated plans, thanks to Videotron.
The anti-competitive behaviour of Bell, which is deliberately blocking access to the support structures it owns, could not be left unmentioned. Videotron repeated that the federal government must take the necessary steps to rein in Bell. Otherwise, the objectives of the new Universal Broadband Fund will not be achieved and an important election promise will not be kept.
Quotes
“Unlike the parasitic resellers, which have invested nothing, Videotron has spent more than $1.5 billion to build out and upgrade its network, as well as $1.2 billion to acquire spectrum, enriching the public purse. The government must uphold the rules that allow for healthy facilities-based competition. We want to continue investing so that even more Quebecers, especially outside urban centres, can access high-speed Internet at a fair price.”
- Pierre Karl Péladeau, President and CEO of Quebecor
“I thank the members of the Committee for their invitation and their attention. Videotron is an excellent example of the success and the impact that a strong 4th player can have in the marketplace. It is clear that prices are significantly lower when the three major national incumbents face competition, such as what Videotron has brought Quebecers.”
- Jean-François Pruneau, President and CEO, Videotron
Read Mr. Péladeau’s comments before the Committee
-30-
About Videotron
Videotron, a wholly owned subsidiary of Quebecor Media Inc., is an integrated communications company engaged in cable television, entertainment, Internet access, cable telephone and mobile telephone services. Videotron is a leader in new technologies with its Helix home entertainment and management platform. As of September 30, 2020, Videotron was serving 1,481,800 cable television customers and 452,900 subscribers to its Club illico video streaming service. Videotron is also the Québec leader in high-speed Internet access, with 1,773,600 subscribers to its cable service as of September 30, 2020. As of the same date, Videotron had 1,452,600 subscriber connections to its mobile telephone service and was providing wireline telephone service to 950,900 Québec households and organizations. Videotron has been recognized as one of Montréal’s top employers.
Follow us on Facebook
Follow us on Twitter
Follow us on the Web
Media contact:
Merick Seguin
Public Relations Advisor, Corporate Affairs
438-889-3220
