TORONTO – The Canada Media Fund (CMF) has set its 2018-2019 program budget at $352 million, up $2.3 million from last fiscal year due in part to a “stable contribution” from the federal government announced last month in Budget 2018.
The CMF program budget is supported by revenue estimates for the coming year based on ongoing and new contributions from the Government of Canada; Canada’s cable, satellite and IPTV distributors; and recoupment and repayment revenues from funded productions. This year’s budget reflects the Feds’ contribution with the addition of a top-up of up to $15M to offset declining contributions from Broadcast Distribution Undertakings to the CMF.
“It is reassuring for Canada’s audiovisual industry to see government policies that provide stability in our funding organizations,” said CMF CEO Valerie Creighton, in the news release. “Thanks to the invaluable support of our public and private funders, we find ourselves on more solid footing to provide a stable level of investment in quality Canadian content that reaches audiences around the world. We’re especially grateful to the Minister of Canadian Heritage, the Honourable Mélanie Joly, for delivering on the government’s commitment to stabilize funding to the CMF.”
Creighton added that the CMF will renew and increase funding for the pilot export programs launched in December to underscore its support of Canadian content in the global marketplace.
The breakdown of the 2018-2019 budget is available here, and click here for a summary of key changes to the Convergent Stream and the Experimental Stream.
