“Current funding programs, such as the [Canadian Music Fund (CMF )], are over-subscribed and underfunded,” says CIMA President Stuart Johnston says. “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.”
CIMA contends that there are not enough dollars currently allocated to the commercial music system to properly invest in the music industry. 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.
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, says CIMA, 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 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,” adds Johnston.
For the CBC’s summary of the budget, click HERE.
For more information about CIMA, go to www.cimamusic.ca.