Federal Budget Falls Short In New CMF Funding
Yesterday's federal budget failed to provide much-needed additional support for the Canadian Independent music sector at a time when the Canadian Music Fund desperately needs topping up, trade org president Stuart Johnston said late yesterday.
By External Source
Yesterday's federal budget failed to provide much-needed additional support for the Canadian Independent music sector.
“Current funding programs such as the CMF are over-subscribed and underfunded," CIMA President Stuart Johnston said in a news release late yesterday. "The Federal Government missed an important opportunity to support Canadian creators and the world-class entrepreneurs such as record label executives, managers, and publishers who leverage the Canada Music Fund investments for our artists.”
There are not enough dollars currently allocated to the commercial music system to adequately invest in the music industry, he added. "For the past 10 years, there have been no permanent increases to the CMF. In fact, the fund experienced a permanent $1 million drop in 2012."
Further elaborating: In Budget 2016, the Federal budget included an investment into “Showcasing Canadian Talent to the World”, where the music sector benefited from a 4.2 million dollar investment over two years. In September 2017, the federal government continued to move in the right direction with its commitment to expand market access and export opportunities for all cultural industries through an investment of $125 million in Canada’s first Creative Export Strategy including the creation of the Cultural Exports Fund.
CIMA recommended that the Federal government invest an additional $8 million towards the Canada Music Fund (CMF) in budget 2018. “ We saw the Cultural Exports Fund as a signal that our industry’s needs are being heard and that the Canadian government is a willing partner in supporting our local industry and creators. Unfortunately, the 2018 budget ends any momentum that was being created,” Johnston stated.
CIMA is a not-for-profit national trade association representing English-language, Canadian-owned and controlled businesses of the domestic, commercial music industry. The org serves a diverse membership of small businesses including record producers, record labels, recording studios, managers, agents, licensors, music video producers and directors, creative content owners, artist- entrepreneurs and other professionals from across the sound recording industry.
CIMA represents over 280 Canadian companies and professionals and 6,200 Canadian artists including A Tribe Called Red, Tanya Tagaq, Serena Ryder, The Trews, Terra Lightfoot, Tegan and Sara, Whitehorse, The Sheepdogs and Metric.
