Canada's music creators to benefit from $32 million in funding for the Canada Music Fund
During the 2024 JUNOs, the Government of Canada shows its support for our talented artists and music sector across the country
HALIFAX, NS, March 24, 2024 /CNW/ - Music connects us to one another through rhythm, passion and storytelling. The Government of Canada remains committed to helping Canadian-owned music companies and organizations invest in our diverse and talented artists to help them thrive in the global market.
Today, while taking part in celebrations for the JUNO Awards, the Honourable Pascale St-Onge, Minister of Canadian Heritage, announced a renewal and boost of support for the Canada Music Fund to help the Canadian music sector and continue to support the success of a range of Canadian artists at home and abroad.
The Government of Canada will deliver $32 million over the next two years (2024?25 and 2025?26) to keep supporting initiatives that enhance the careers of Canadian artists, while strengthening the competitiveness and stability of the Canadian music sector.
Through support like this, new and exciting Canadian artists are breaking through with new sounds, styles and helping uplift those who needed their chance to shine. This investment will also provide relief to Canadian music companies and organizations facing financial pressures from rising costs, as they seek to build up the next generation of artists. This important step will also contribute to the success of the Canada Music Fund's modernization since its announcement in Budget 2019.
As with all Canada Music Fund contributions, this investment will be administered by the Foundation Assisting Canadian Talent on Recordings (FACTOR) for the Anglophone market and the Fondation Musicaction (Musicaction) for the Francophone market.
"Music is a unifying force that brings us together and makes our stories resonate worldwide. Today, we're delivering on a commitment we made to Canadians to better support this country's music sector and increase our investments in the Canada Music Fund. This investment is essential to maintain the positive impact of the Canada Music Fund, helping new and existing artists or groups to break through in the modern music environment. Through our support, we're laying the foundation for a thriving and strong music sector."
?The Honourable Pascale St-Onge, Minister of Canadian Heritage
The Canada Music Fund, via FACTOR and Musicaction, funds approximately 5,000 projects annually supporting Canadian music through recordings, touring, showcasing, conferences, award shows and other events that enhance the visibility of Canadian artists.
The program was instrumental in supporting the Canadian music industry and Canada's live music sector during the pandemic, providing $139 million over three years in critical support to help and ensure the viability of Canadian artists, record labels, artist managers, music publishers, live music venues, concert promoters and other music industry entrepreneurs.
The Government of Canada supports the Canadian music sector and artists through other measures, such as the Online Streaming Act.
SOURCE Canadian Heritage
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