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FYI

FACTOR Pumps More Than $20M Into Music Biz

FACTOR, the Foundation Assisting Canadian Talent on Recordings, has published its 36th annual report that transparently details how its budget of $20-million has been spent in fiscal 201

FACTOR Pumps More Than $20M Into Music Biz

By FYI Staff

FACTOR, the Foundation Assisting Canadian Talent on Recordings, has published its 36th annual report that transparently details how its budget of $20-million has been spent in fiscal 2017-2018.


Launched in 1982 with a budget of $200K, the not-for-profit has become the lynchpin as the domestic music industry’s capital bank, co-funded by private radio broadcasters and the Department of Heritage--and operating with a staff of 20 and an overhead of 12.5% that has been maintained for the past seven years.

The annual broadcast contributions received a bump up in May of last year thanks to an Order in Council that exacted additional funding requirements from Bell, Rogers and Corus.

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Highlights from the report include:

  • In the 2017-18 fiscal year, FACTOR provided $20,511,597 in funding to a total of 3,082 projects across all programs.

  • $4,423,841 in funding towards the creation of 629 new sound recordings.

  • 1,083 successful Tours and Showcases both domestic and internationally.

  • 203 videos funded by FACTOR across all programs, for a total of $1,058,734.

  • $1,170,565 in Industry Support through the Business Development and Business Travel programs.

  • $4,431,504 to 122 Collective Initiatives projects this year and $324,400 to 62 Sponsorship projects.

Below are several tables illuminating where funds have been directed and the annual report can be downloaded in full here.

 

 

 

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