MONTREAL – Broadcasters will now be able to contribute to Telefilm Canada’s new private donation fund which has been recognized by the CRTC as a certified independent production fund.
The fund, announced in early March, will consist of two streams – one that will provide better support to emerging filmmakers, and the other aimed at established filmmakers that will help them achieve their full potential both in Canada and abroad.
Under the CRTC's broadcasting distribution regulations, BDUs are required to contribute to the Canadian broadcasting system by fostering the production of new quality Canadian programming through a financial contribution to be directed to an independent production fund. Specifically, a BDU must direct a minimum of 80% of its contribution to the Canada Media Fund (whose funds are administered by Telefilm), and may direct up to 20% of its contribution to one or more independently-administered production funds, other than the CMF, (such as the Bell Broadcast and New Media Fund and Le Fonds Harold Greenberg), provided that it meets certain criteria.
Telefilm's private donation fund will also be allowed to be the recipient of tangible benefits if there is a transaction involving a broadcast undertaking.
The fund, which comes into effect immediately, will draw on companies and individual donors interested in supporting the production, distribution and promotion of Canadian feature films. Once fully up and running, Telefilm estimates that the fund could be endowed with an annual budget of $5 million, plus lead to the creation of some 150 jobs every year.
"Telefilm is committed to finding innovative ways to fulfill its role as investor and promoter by offering the Canadian industry new tools to help it diversify its funding sources and to attract larger audiences”, said executive director Carolle Brabant, in Thursday’s announcement. "The CRTC's decision effectively allows Canadian broadcasters to play an even bigger role in fostering the creation of Canadian content as well in the marketing and promotion of homegrown stories. Along with the backing of the Canadian Chamber of Commerce, Canada's most influential business association, support for this unique initiative continues to grow as we anticipate announcing shortly the names of five champions."
