Canada Music Fund Renewal

FACTOR receives its funding from two sources: Canada’s Private Radio Broadcasters and the Department of Canadian Heritage. 

Today we have received information from The Department of Canadian Heritage concerning the Canada Music Fund (CMF) that we are thrilled to share.

You may recall that a portion of the Canada Music Fund (CMF), the amount of $8.81M, was due to sunset on March 31, 2015. In the 2014 budget, the Government announced the renewal of the CMF’s investment permanently. From 2015-2016, the CMF’s overall investment will be at the same current level, i.e. $24.61M, with the difference that these funds will now be permanent. 

This brings the CMF in line with other sun setting arts funding that the government renewed on a permanent basis.

Through the Canada Music Fund, the Government provides $24.61M in funding each year to help support over 400 album production projects and 1000 marketing, touring, and showcasing initiatives.

Excerpt from the Budget 2014: Supporting the Canada Music Fund

Beginning in 2015–16, Economic Action Plan proposes to provide ongoing funding of $8.8 million per year for the Canada Music Fund. Canada’s music sector generates nearly $3 billion every year in economic activity from sound recordings, concerts, commercial radio and performing rights. The Canada Music Fund helps Canadians access new Canadian music and Canadian artists. Beginning in 2015–16, Economic Action Plan proposes to provide ongoing funding of $8.8 million per year for the Canada
Music Fund.

Source: www.fin.gc.ca, p. 217.

For further details on our funding, please visit the Our Funding Partners page of the FACTOR website.

 

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Molson Photobomb

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