TORONTO – On Friday, the Canada Media Fund announced the criteria for the administration and distribution of $88.8 million in new federal government support to television and interactive digital media production companies.
This is part of the $500 million the government is making available through the Covid-19 Emergency Support Fund for cultural, heritage and sport organizations to help mitigate the impact of the crisis on Canada’s production sector.
“We recognize the trust the government has placed in CMF to administer and distribute these much-needed funds in the most effective and expedient way possible. We hope businesses will benefit from these funds to stay afloat until we weather the storm,” said Valerie Creighton, president and CEO of the CMF.
Parent companies which have received support – either directly or indirectly through their subsidiaries – in 2017-2018, 2018-2019 or 2019-2020 are eligible to receive funding following a formula outlined in the criteria, with caps ranging between $200,000 and $800,000 depending on the level of CMF funding received by each company, reads the CMF announcement.
“These funds seek to help parent companies in Canada’s television and interactive digital media sectors, address financial needs for business continuity of operations, safeguard jobs and support self-employed and freelance workers such as writers, directors, crew, cast and other employees in our industry, so they are in a better position to recover once the pandemic subsides. The funds are intended to complement – and not duplicate – other measures announced by the Government of Canada,” adds the statement.
To receive help, an applicant has to be able to show:
- it has been negatively impacted by COVID-19, which has resulted in financial hardship and is therefore in need of Emergency Relief Funds to ensure a continuity of operations and to safeguard jobs;
- it can demonstrate a projected financial impact of at least 25% of its activities;
- it remains in operation at the time of application and plans to continue contributing to its sector in the future;
- it will maintain its Canadian-controlled status for at least 12-months following receipt of any funds in the CMF Allocation;
- it is not receiving funding from multiple Government of Canada initiatives. Further, if the applicant subsequently receives any funding related to a Government of Canada Covid-19 response initiative, it will not use that funding to cover the same costs as those applied for through the CMF allocation;
- where relevant, funds will be used to support workers such as the self-employed and freelance workers, artists, and creators;
For the full criteria, please click here.
