According to the Canadian Media Fund’s 2019-2020 annual report, its funding influenced the use of $1.4 billion within the industry across the country. The findings also reflect that one dollar of CMF funding generated an additional $4.12 in production activity.
The figures reflect the extent of importance in the role CMF plays as a contribution to the creation of over 180,000 jobs in Canada’s audiovisual industry. The quick evolution of the sector, partially resulting from the Covid-19 pandemic, led the organization to contribute $349 million to cover the development, production, promotion, and export of 1,483 television and digital media projects during the 2019-2020 season.
The extent toward which the investment was driven by the commitments of CMF’s funding contributors, which inlcude the Government of Canada, and the country’s cable, satellite, and IPTV distributors. The purpose of the fund is to foster, develop, finance and promote the production of Canadian content and applications across audiovisual media platforms.
The “CMF 2019-2020 Annual Report” also specifies the various programs and initiatives that are being implemented by CMF to support Canada’s audiovisual industry throughout the fiscal year. The analysis features insights regarding research and promotion strategies, all of which represent the significance in heading Canada’s digital economy.