TORONTO — While also publishing its program guidelines for the 2020-2021 fiscal year, the Canada Media Fund (CMF) announced Wednesday it will invest $353 million in Canadian television and digital media production this year.
The breakdown of CMF’s 2020-21 program budget can be accessed here.
“Among all the challenges our industry has overcome, none has been as destabilizing as the one we currently face,” said Valerie Creighton, president and CEO of CMF, in the news release. “The Covid-19 pandemic has brought to a standstill most sectors of the economy, including ours.
“Given the numerous program changes we introduced last year and the current situation in the industry, we will be making limited updates to our program budget, guidelines and policies for the 2020-2021 fiscal year,” she added. “Our investment will be comparable to previous years. We hope this will provide our clients and their businesses with much-needed stability and predictability. However, as the effects of the Covid-19 virus unfold, further flexibility to the guidelines may be required.
“We are in regular communication with the government to look at added flexibility for our programs and funding, as well as what critical relief measures may be necessary. Our collective responses to the changes that lie ahead will determine how quickly Canada’s screen-based sector recovers from the crisis,” she concluded.
A number of changes are being implemented to CMF’s programs. More information can be found in the news release, and a detailed summary of the changes can be accessed here.
