Today , the new Ontario Music Fund was officially launched by the Minister of Tourism, Culture and Sport Michael Chan, at an event held at Revolution Studios in Toronto.
MusicOntario & CIMA have been engaging the government throughout the spring and summer on the details of the fund, which were made public following today’s announcement. Full details on each fund are now live at the OMDC website: http://www.omdc.on.ca/music/the_ontario_music_fund.htm.
The $45 million (over three years) Ontario Music Fund is divided into four streams, administered through the Ontario Media Development Corp. (OMDC) via a competitive application process. The four streams each support different industry activities. Importantly, many of these funds have different eligibility and funding restrictions for domestic and multinational record labels:
- The Music Company Development Fund will provide assistance to companies with annual revenues of over $100,000. Domestic companies will be able to access funds for recording, marketing, touring and business development activities, while multinationals will be able to apply for Ontario-based recording activities and marketing of domestic artists. Eligible companies must contribute 50% of all eligible costs, with maximum funding available for a single company will be $1.5 million. Deadline: December 9th, 2013.
- The Music Industry Development Fund will provide assistance to industry trade and arts-service organizations with revenues of over $35,000 for business development, promotion and export initiatives. Maximum funding available will be $350,000 annually, with recipients being required to contribute at least 25% of eligible project costs (though 40% of this contribution may be in-kind). Deadline: January 31, 2014.
- The Music Futures Fund will support smaller record labels, publishers, managers and music promoters with annual revenues between $35,000 and $100,000. Companies may utilize funding to engage in recording, video production, marketing, touring and business development activities. Applicants will be required to contribute at least 25% of costs, though 60% of this contribution may be in-kind. Maximum funding for this stream will be capped at $50,000 annually. Deadline: January 6, 2014.
- The Live Music Fund will support music promoters, presenters and booking agents with annual revenues of over $100,000 (for promoters) and $50,000 (for booking agents), with performance, programming and business development costs. For the most part, OMF-supported expenditures must be made in Ontario. Maximum funding available will be $250,000 annually, with recipients being required to contribute at least 50% of project costs. Deadline: January 6, 2014.
MusicOntario strongly recommends that those interested in applying should contact staff at the OMDC’s new Ontario Music Office prior to submitting an application at OMF@omdc.on.ca to discuss projects and ideas. The OMDC has advised that in certain cases, exceptions to the funding guidelines may be considered.
For a full press release, click here.