Canada Media Fund Commits C$375.2 Million for 2015-16 Program

ADVERTISEMENT

TORONTO: The Canada Media Fund (CMF) is pledging to invest C$375.2 million ($295 million) to support Canada’s television and digital media industry in 2015-16.

Underspending in some 2014-15 programs, revenues from tangible benefits and one-time adjustments of revenues from broadcast distribution undertakings (BDU) in 2014-15 contributed to achieving this program budget.

Valerie Creighton, the president and CEO of the CMF, commented: “Changes made to the CMF’s programs and policies align with corporate strategic objectives and account for the feedback received from stakeholders during the industry consultation conducted last fall. We thank all the stakeholders we met in person, and those who contributed online, in order to continue the important process of sharing information and feedback. We are pleased that the CMF is in a position to increase its program budget this year even though Canada’s audiovisual content funding ecosystem is subject to new market pressures and faces a time of change.”