The Canada Media Fund (CMF) on Wednesday announced its first-ever Business Development Program as well as the second iteration of its Indigenous Company Impact Support Program — both investing in businesses, not individual projects.
The CMF also released a new report, Beyond Project Funding: Highlights from the CMF’s research on business development funding, which informed the CMF’s overall strategic approach to business development, according to a CMF press release.
“In-house research and industry consultations showed us that more investments are needed if we want Canadian and Indigenous companies to scale up and compete on the international stage,” Valerie Creighton, CMF president and CEO, said in the press release. “Aligned with our three-year strategy, Indigenous Action Plan, and EDIA strategy, these programs invest in the stability and sustainability companies need to keep telling the stories our country is known for, across all platforms.”
The new Business Development Program is a $5-million pilot program designed to support the growth and business activities of small to medium-sized Canadian companies with a track record of producing linear or interactive digital media content. The program invests in the work that grows a business, including entering new markets, expanding internationally, building partnerships, finding new revenue in existing IP and catalogues, acquiring new high-potential IP, and developing audiences.
The program will fund two separate pools of applicants — Growth Track and Accelerate Track — with the CMF total budget allocation split evenly between the two tracks, and one-third of the funding in each track going to French-language applicants.
Applicants apply to one of the two tracks, based on their total consolidated revenues (as defined in the program guidelines) over the past five years.
| Track | Company revenues | Maximum CMF contribution | Nature of contribution |
| Growth | $250,000 to $999,999 | $100,000 | Non-repayable contribution |
| Accelerate | $1,000,000 to $9,999,999 | $300,000 | Recoupable investment |
To be eligible, a company must be a for-profit, Canadian-controlled corporation incorporated for at least five years, with its head office in Canada and a primary business of producing linear and/or interactive digital media content. Applications will open on Nov. 10 and are due by Nov. 26, 2026.
Initially launched in January 2025, the Indigenous Company Impact Support Program provides one-time funding of up to $50,000 to indigenous-owned and controlled companies with a history of creating interactive, digital and emergent media content. The program invests in indigenous companies’ operations and teams, supporting a range of activities, from business planning to market access, community engagement to audience development, and more.
The CMF said the program aligns with the principles of indigenous narrative sovereignty and is a direct action outlined in the CMF’s recently launched 2026-2029 Indigenous Action Plan.
Companies that received funding between 2021 and 2026 through eligible CMF or Indigenous Screen Office programs will be invited to apply. Application requirements will be made available to eligible applicants on Sept. 29, and applications are due by Oct. 29, 2026. Program guidelines are available here.
For its Beyond Project Funding report, the CMF’s Analytics and Strategic Insights department surveyed Canadian television and interactive digital media companies about their financial profiles and their views on how to grow revenue.
The report provides a snapshot of the industry’s growth priorities, including:
- Strong interest in recoupment financing: 92 per cent of respondents said they would apply to a recoupment-based business development program or were unsure but open to it. Sixty-six per cent said yes outright.
- A revealing financial snapshot: 60 per cent reported under $1 million in consolidated net revenues over the last five years.
- Low international revenues across the board: 68 per cent said less than 25 per cent of their gross revenue came from international sources.
- International growth is the top priority: 57 per cent chose developing international opportunities as their top business development strategy.
“Matched with an analysis of CMF data and a review of business development programs in Canada and internationally, this research responds to a changing industry and a shift in government priorities toward economic outcomes. And by directly supporting the development of the Business Development Program and the Indigenous Company Impact Support program, the report aligns with the CMF’s 2026-2029 Strategic Plan, which includes Modernization and Monetization among its pillars,” the CMF said in its press release.
Screenshot of the cover of the CMF’s Beyond Project Funding report
