FACTOR Support For Music Industry Totalled $25.2M In Past Year
FACTOR, otherwise known as the Foundation to Assist Canadian Talent On Recordings, took in revenue of $30,880,783 and paid out $25,238,117, according to figures cited in the not-for-profit’s 2019-2
By FYI Staff
FACTOR, otherwise known as the Foundation to Assist Canadian Talent On Recordings, took in revenue of $30,880,783 and paid out $25,238,117, according to figures cited in the not-for-profit’s 2019-2020 annual report that was released online earlier this week.
Funding from Canadian Heritage totaled $14,546,708 with a further $16,334,075 contributed by Canada’s private radio broadcasters.
Of the money paid out, $514,997 went to regional affiliates and $25,238,117 was paid out in grants.
In total, 2,000 applications requesting close to $44 million were logged over 10 programs offered by FACTOR, the report states.
Support for Canadian-owned music companies came in at just over $6.2M, tour support approvals came in at just under $3M, $950K was spent on 475 of 1,2241 Artist Development submissions, and $755,280.78 went to 53 of 73 requests for video assistance.
Further specifics along with messages from Chair Meghan Symsyk and President Duncan McKie can be found online on the FACTOR portal.
