Toronto, ON – On March 31st the Canada Media Fund (CMF) announced that the Canadian interactive digital media industry should see a projected $16M increase in the program budgets allocated to interactive production through both the experimental and convergent streams.
The additional funding comes in the form of an additional projected $6M of funding for the Experimental Stream, and a new $10 million incentive in the Convergent Stream. The full amount of the funding is contingent on the passing of a new federal budget after the election which will very likely allocate $100 million of federal government support for the program as was proposed in the recent budget proposal..
“ We are pleased that the CMF continues to listen and to understand the opportunities created through more substantial investments in the interactive media content and services,” said Ian Kelso, president of the Canadian Interactive Alliance / L’alliance interactive canadienne (CIAIC) and president & CEO, Interactive Ontario. “We all know what an overwhelming demand there was on the fund, and that many very innovative and potentially important projects had to be turned away due to lack of available capital.”
The Canada Media Fund released its preliminary programme allocations based solely on the $271 million of private sector commitments already secured for the 2011-2012 fiscal year. Of that money, $24M was set aside for both English and French production in the Experimental Stream.
Additionally, $10M will be allocated to the Convergent Stream as part of a new digital media incentive: $7.3M now and a projected $2.7M after a federal budget is approved. This incentive will take the form of a non-repayable contribution to projects on a first come / first served basis. but is only applicable to projects where the broadcasters have exceeded their performance envelope spending by at least 25% or $20,000, whichever is greater.
The federal government has traditionally contributed $100 million to the CMF – bringing the total fund up to $371 million this year, but these monies have not yet been officially approved after the recent budget failed to pass before an election was called.
It is fully expected that, whatever the results of the coming election, the $100 million will be approved as the government’s share of this public / private fund and that an additional $9 million will be allocated to the Experimental Stream.
About the CIAIC
Formed in June 2005, the Canadian Interactive Alliance/l’Alliance Interactive Canadienne is a not-for-profit association and the authoritative voice for Canada’s interactive digital media industry on the national stage. Its membership is composed of seven provincial interactive media associations: Alliance Numérique, Digital Alberta, Interactive Media Alliance of PEI, Interactive Ontario, Manitoba New Media, DigiBC, and SaskInteractive.
About Interactive Ontario (IO) - http://www.interactiveontario.com
IO is a not-for-profit industry trade organization representing more than 300 member companies. IO is committed to the growth of the Ontario interactive digital media industry. To this end IO is an industry advocate within Ontario and nationally as a founding member of the Canadian Interactive Alliance /Alliance interactive canadienne (CIAIC.)
Contact for Interactive Ontario & CIAIC
Danielle Engels, 416.516.0077 x 224 danielle@interactiveontario.com
