GATINEAU – The Government of Canada today announced it is extending its Short-Term Compensation Fund (STCF) for Canadian audiovisual production until March 31, 2023.
“While it is encouraging that many productions have already resumed thanks to the Fund’s support, there is still a pressing need for this program, especially as the public health situation continues to evolve,” a Canadian Heritage press release says.
Telefilm Canada, which has been administering the funds since the program was launched in October 2020, “will continue to provide as much as $150 million in compensation until 2023 to production companies whose filming has been interrupted or abandoned as a result of a Covid-19 diagnosis or outbreak,” according to the release.
“The Fund is a temporary emergency measure to address the lack of insurance coverage in the Canadian film and television production industry. The Government will continue to help support a strong recovery for artists and producers in this important industry,” says the release.
“The Fund will end on March 31, 2023, three years after the start of the pandemic. We expect that the audiovisual production industry and insurers will move beyond emergency short-term measures to develop a longer-term solution.”
The STCF was previously extended to March 31, 2022 in February 2021, at which point the government made up to $100 million in coverage available. Since it was initially launched with a budget of $50 million, the STCF has covered over 800 productions, which represents over $500 million in coverage and around $2.6 billion in economic activity that was generated, according to the press release.
Following the government’s announcement today, the Canadian Media Producers Association (CMPA) and l’Association québécoise de la production médiatique (AQPM) issued a joint statement on behalf of their presidents and CEOs, Reynolds Mastin and Hélène Messier.
“We extend deep appreciation to Minister Rodriguez and the federal government for their continued support of Canada’s film and television production industry throughout the pandemic,” the statement says.
“The extension of the Short-Term Compensation Fund will ensure that the thousands of individuals working in Canadian film and TV production will remain employed, creating stellar content for audiences across the country and around the world.”
