CMF TO INVEST $364 MILLION IN CANADIAN TV AND DIGITAL PRODUCTION

The Canada Media Fund is set to invest $364 million in Canada’s television and digital media industries. It also published Program Guidelines for the 2021-2022 fiscal year. “The Covid-19 pandemic brought most sectors of the economy to a standstill, including ours," Valerie Creighton, President, and CEO, CMF, said. "Over that period, the CMF remained a reliable partner to our clients and stakeholders."

The fund will first introduce a new Performance Envelope Factor that rewards Broadcasters that license projects from indigenous and colored-owned production companies. For 2021-2022, the CMF will define individuals in these communities as members of a “Diverse Community." “The CMF is currently undergoing a wide-ranging consultation process, with stakeholders from coast to coast to coast, the results of which will inform the future of the organization and the key role it plays in supporting Canada’s screen-based creators," Creighton said.

 $10.5 million of CMF's fund will be allocated to the Pilot Program for minority communities.The program will exclusively support production companies that are owned/controlled by Black people and people of color. Evaluation grid points will be modified in the majority of selective Convergent and Experimental Stream Programs to further credit projects crafted by minority communities, forming 25% of the Conceptualization Program, Predevelopment Program, and Early-Stage Development Program.

In addition to various program changes, the CMF will also increase its Sector Development Support budget to $2 million with $1.25 million of this budget provided exclusively to national and regional initiatives for underepresented groups. “Our industry will not flourish without the voices and stories from underrepresented communities,"  Creighton said. "Canada’s culture will be made richer still thanks to the diversity of perspectives and stories on our screens.”

The CMF program budget is supported by revenue estimates for the coming year based on ongoing funding contributions from the Government of Canada, as well as contributions from Canada’s cable, satellite, and IPTV distributors. The Government of Canada and the Broadcast Distribution Undertakings also contributed to this year's budget. The CMF will continue most of the Flexibility Measures it introduced last May in response to the pandemic to help stakeholders continue adapting until production picks back up to pre-pandemic levels. The fund will prioritize flexibility by launching a Convergent Stream program later in the year for projects at the development stage that will not require a Canadian Broadcaster commitment.