The Canada Media Fund (CMF) announced that it will invest $357M in the Canadian television and digital media industries during its new fiscal year starting April 1, 2024. "In 2024-2025, the CMF will offer more flexibility and balance to the industry as we await a new regulatory framework following the adoption of the Online Streaming Act,” said Valerie Creighton, President and CEO, CMF.
“Despite a lower budget and the sunsetting of the $60M Government of Canada Budget 2021 allocation for equity, diversity, and inclusion (EDI) in the screen industry, the CMF remains dedicated to supporting underrepresented creators and EDI initiatives. Amidst a whirlwind of change in technology and media consumption habits, we are also furthering our transition to a content-centric, platform-agnostic funder—notably by reorganizing our program offering across three pillars: Ideation, Creation and Industry—and abandoning the funding stream-based model,” added Creighton.
The CMF’s program budget is supported by revenue estimates for the coming year based on ongoing funding contributions from the Government of Canada, and contributions from Canada’s cable, satellite, and IPTV distributors. Tangible benefits, recoupment, and repayment revenues from funded productions also support the program budget. This year’s budget reflects a steady contribution from the Government of Canada, plus stabilization funding to help mitigate declining contributions to the CMF from broadcast distribution undertakings (BDUs). Finally, the 2024-2025 program budget includes the second (and final) $20M installment that the federal government announced in March 2023 for the French-language market and underrepresented communities.
“We are grateful for the ongoing support from our public and private funders, and thank the Minister of Canadian Heritage, the Honourable Pascale St-Onge, for continuing to deliver on the federal government’s commitments to support Canada’s screen-based sector,” concluded Valerie Creighton.
The CMF has introduced sweeping changes aimed at increasing flexibility, fostering inclusivity, and enhancing collaboration within the Canadian screen industry. Notably, it is expanding market tests in linear content programs, allowing Canadian-owned distribution companies to contribute financing to unlock CMF funds. Furthermore, a streamlined Broadcaster Envelope system merges Development and Performance Envelopes, offering broadcasters more flexibility. Indigenous producers will benefit from expanded flexibility in eligible genres and market tests, along with the removal of production barriers across the circumpolar region, demonstrating a commitment to inclusivity and diversity.
In its commitment to foster a more inclusive sector, the CMF is amplifying support for underrepresented creators and EDI initiatives. The successful Pilot Program for Racialized Communities will transition into an ongoing initiative, while new Broadcaster Envelope Factors incentivize gender and diversity representation. Additionally, the Diverse Languages Program will provide more autonomy to Diverse Language Broadcasters. The CMF is also prioritizing Children & Youth and Documentary content through increased genre allocations and a restructured calculation for the Documentary genre, ensuring broadcasters are incentivized to support vulnerable sub-genres.