FACTOR UPDATE: CMF COVID-19 Emergency Support Fund Phase 2, Part 2: studios, music video producers, record labels, publishers
There are updates to the application process and eligibility criteria for the COVID-19 CMF Emergency Support Fund Phase 2. See the updates below.
Please check out our Frequently Asked Questions (FAQs) document for more details.
The deadline to submit an application for funding under Phase 2 for the live music industry has been extended. The new deadline to submit your application is Wednesday, August 5, 2020.
- For artist managers and booking agents at least 50% of the artists on their roster must be Canadian artists.
- For concert promoters at least 50% of revenues of their last completed fiscal year came from eligible music-related activities related to Canadian artists and / or demonstrate having been essential in the ecosystem i.e. in the development of Canadian artists. They should be able to demonstrate that the artists have been remunerated for their performance (agreements/contracts with the artist or another party, cheques, etc.).
- For venues and festivals at least 50% of the musical programming presented during the 2019 calendar year were performances by Canadian artists and/or demonstrate that the venue is essential in the ecosystem i.e. in the development of Canadian artists.
Eligibility criteria related to Canadian artists
- When assessing whether you meet the 50% minimum criteria for performances by Canadian artists, we take into account every Canadian artist that performed, regardless if they were the headliner or support.
- Concert promoters, festivals and venues are not required to demonstrate which performances in 2019 were by Canadian artists in the application, however, they must attest to meeting criteria related to Canadian artists. Proof of meeting this criteria may be requested at a later date.
- Managers and booking agents are required to provide a list of the artists on their roster and identify those that are Canadian.
Profit margin limit
Entrepreneurs and organizations with revenues of $100,000 or more must have had a profit margin of less than 15 percent in their last fiscal year OR at least since March 15, 2020. The profit margin criterion is based on your earnings before income tax, depreciation and amortization (EBITDA). Note that grants and contributions are included in the revenue calculation.
How to Apply
Email the following documents as attachments in one email to email@example.com. Save all documents as PDFs. Reference the applicant name in the file name (e.g. Applicant Name Application Form.pdf):
- Completed Phase 2 Attestation form with applicant information and signed attestation:
The Attestation Form must be completed and saved using Adobe Reader (free for download online). Ensure that you have the current version on your computer. The final PDF should not have pages added or removed, and typically should still display the fillable fields in light blue.
We find that different web browsers sometimes have problems with Adobe. We suggest using Google Chrome or Mozilla Firefox to download the form because they are fully compatible.
- Financial statements (audited, or review engagement or notice to reader) from YOUR last fiscal year completed. If you do not have financial statements, documentation of revenues and expenses from YOUR last fiscal year completed.
- *NEW* Monthly cash flow statement for March 15, 2020 – March 31, 2021, including incurred and planned expenditures (administrative budget items and fixed operating costs such as salaries, rent, etc.).
- *NEW* Concert promoters, festivals, and venues: a list of performances promoted or presented during January 1, 2019 to December 31, 2019
- *NEW* In addition to the above, concert promoters must include a short description on how you have been essential in the development of Canadian artists if less than 50% of revenues of your last fiscal year completed came from eligible music-related activities related to Canadian artists.
- *NEW* Festivals and venues must include a short description on how you have been essential in the development of Canadian artists if less than 50% of the musical programming presented during the 2019 calendar year were performances by Canadian artists.
Should you have any questions, don’t hesitate to contact us at firstname.lastname@example.org.