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Federal government adds $32 million annually to the Canada Music Fund for 2 years

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Photo by Nainoa Shizuru on Unsplash.

The federal government marked Juno weekend this weekend by announcing that it is adding $32 million annually to the Canada Music Fund for the next two years — giving the Canadian music industry more or less precisely the help it’s been saying is needed.

The Canada Music Fund is a pot of government money administered by FACTOR, the Foundation to Assist Canadian Talent on Recordings, which covers a range of projects from albums and showcases by individual artists to digital marketing and educational initiatives – even awards shows!

Heritage Minister Pascale St-Onge made the announcement during Sunday night’s Juno Awards telecast when she took to the stage with William Prince to present the Breakthrough Artist of the Year award. The details had already been emailed to media hours earlier.

The Canada Music Fund typically sits at around $25 million per year. However, the government had temporarily boosted it by around $10 million per year starting in 2019. That funding was set to expire this year.

The Liberals promised in 2021 to increase the pot of money to around $50 million per year this year. But industry organizations across Canada had been aggressively lobbying to make it $60 million.

They argued that FACTOR’s other main source of funding — contributions from Canada’s private broadcasters — is drying up due to the reduction in ad revenue faced by those broadcasters (their FACTOR contributions are calculated based on a share of overall revenues) Meanwhile, the country is seeing a boom in new festivals and events competing for the same small pot of money.

The Canadian Independent Music Association (CIMA) celebrated the government’s announcement on Sunday, saying it was welcome relief in this era of austerity.

 

 

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