Media conglomerate Postmedia announced Thursday it is partnering with content and marketing company Contend to launch Postmedia Studios, which they say will leverage the new funding ecosystem brought by the Online Streaming Act to bring Canadian stories to film, television and short-form formats.
The companies said they already have a slate of original programming created by Canadians in the works, and all intellectual property will be created, owned and produced by Canadians.
“This includes film, television, and short-form formats that delve into compelling real-life stories and memorable historical events that have shaped the nation,” a press release said. “These productions will highlight diverse Canadian experiences and perspectives, contributing significantly to the cultural and economic vitality of the Canadian media industry.”
Those productions include documentaries about Canada’s history, true crime series investigating infamous cases and unsolved mysteries, and sports series celebrating Canada’s sports heritage and athletes.
“Postmedia will leverage its extensive content archives to license and co-produce new content, creating opportunities for content creators,” the release added. “The partnership will also harness new digital technologies to produce news and other content in more sustainable, cost-effective and innovative ways.”
The partnership is intended to take advantage of an influx of cash from foreign streamers, who will now be required to contribute to Canadian content productions as part of the CRTC’s implementation of the Online Streaming Act, which gives the commission the authority to regulate them.
The CRTC has already announced that the foreign and standalone Canadian streamers brining in $25 million or more in annual Canadian revenue will be required to make a base contribution of five per cent of those revenues toward the funding of Canadian content.
“Our partnership with Contend represents a significant leap forward in our commitment to nurturing Canadian talent and stories,” Erika Tustin, vice president of content monetization at Postmedia, said in the release. “Through this collaboration, we aim to unlock the potential of our vast archive to inspire new content that resonates with audiences across Canada and beyond.”
The companies also announced they intend to bring about a “new wave of ad products targeted at specific content.”
