CMF thanks government for additional $40M investment in Budget 2024
Toronto, April 16, 2024 – The Canada Media Fund (CMF) commends the Government of Canada’s significant investments in the country’s audiovisual industry confirmed today in Budget 2024. This is a clear commitment to our sector as federal institutions and the CRTC undertake parallel processes to modernize regulations, tools, and opportunities for a new era of Indigenous and Canadian content creation.
The CMF applauds Budget 2024 investments in our sister agencies the Indigenous Screen Office and Telefilm Canada, and we are particularly grateful for the additional $40M over two years for the CMF to maintain our investments in growth and inclusion, while helping to mitigate the significant year-over-year decline in our 2024-2025 revenue sources.
“This funding will allow the Canadian audiovisual industry to remain competitive and resilient in the coming years, while continuing to generate significant economic impacts,” says Valerie Creighton, President and CEO, CMF. “Thank you to the many organizations who advocated so strongly for this additional investment and Minister of Canadian Heritage Pascale St-Onge for championing Canada’s audiovisual industry.”
The funding earmarked in Budget 2024 will supplement the CMF’s investment of $357M to support Indigenous and Canadian audiovisual creators in 2024-2025.
About the Canada Media Fund
The Canada Media Fund (CMF) fosters, develops, finances, and promotes the production of Canadian content and applications for all audiovisual media platforms. The CMF guides Canadian content towards a competitive global environment by fostering industry innovation, rewarding success, enabling a diversity of voice, and promoting access to content through public and private sector partnerships. The CMF receives financial contributions from the Government of Canada and Canada’s cable, satellite, and IPTV distributors. Visit our website for more information.
Media Contact
Maxime Ruel
Senior Manager, Communications – Canada Media Fund
[email protected]
