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CMF Invests $353M

CMF Invests $353M, image,

CMF Invests $353M
by Staff

(April 1, 2020 – Toronto, ON) The Canada Media Fund (CMF) announced today it will invest $353M in Canada’s television and digital media production. It also published Program Guidelines for the 2020-2021 fiscal year.

“Among all the challenges our industry has overcome, none has been as destabilizing as the one we currently face,” said Valerie Creighton, President and CEO, CMF. “The COVID-19 pandemic has brought to a standstill most sectors of the economy, including ours. We understand these are challenging times for all—both from a business and personal perspective. The CMF will continue to be a reliable partner to our clients and stakeholders. We remain fully operational as does our Program Administrator Team at Telefilm Canada.”
Valerie Creighton, photo,
“Given the numerous program changes we introduced last year and the current situation in the industry, we will be making limited updates to our program budget, guidelines and policies for the 2020-2021 fiscal year. Our investment will be comparable to previous years. We hope this will provide our clients and their businesses with much-needed stability and predictability. However, as the effects of the COVID-19 virus unfold, further flexibility to the Guidelines may be required.”

“The CMF has evolved its programs over the past 10 years thanks to ongoing and valuable feedback from our clients and stakeholders, many of whom share their views through our various outreach and consultation initiatives. Thanks to all who participate in this process and thanks to our public and private funders for their invaluable support. We’re especially grateful to the Minister of Canadian Heritage, the Honourable Steven Guilbeault, for delivering on the government’s commitments to support Canada’s screen-based sector, especially during these uncertain times. We are in regular communication with the government to look at added flexibility for our programs and funding, as well as what critical relief measures may be necessary.”

Creighton concluded her remarks with, “Our collective responses to the changes that lie ahead will determine how quickly Canada’s screen-based sector recovers from the crisis.”

Source: Supplied by CMF.