TORONTO – The Canadian music industry has lost a major source of funding after Bell Media confirmed that it has pulled the plug on its MuchFACT program.
MuchFACT has supported the Canadian music community through funding and promotion of music videos and related music content for media platforms since 1984. The company has also dropped BravoFACT, a similar fund for short-form scripted projects.
A CBC report says that MuchFACT spent approximately $2 million a year, funding videos by Arcade Fire, Carly Rae Jepsen and emerging acts like Halifax psych rock band Walrus and Mississauga rapper John River. It also quotes Bell Media president Randy Lennox who suggested that online video streaming services should be the ones to pay, given that's where most music videos are now watched.
A Bell Media spokesperson told Cartt.ca that the company “is proud to have supported Canadian talent with more than $131,000,000 in funding from MuchFACT and BravoFACT since 1984”.
“However, after a careful review of the programs this summer, Bell Media has determined that they are no longer aligned with our programming and platforms and have been discontinued as they previously existed”, continues the emailed statement.
Bell Media added that it will continue to support home-grown talent through initiatives such as the Harold Greenberg Fund, the Radio Starmaker Fund, and will work with its industry partners on developing new methods for growing and supporting Canada’s emerging talent.
