Did you notice the extra money for the music industry in yesterday’s federal budget?
With a federal election scheduled for October 21, the Liberals needed to table a budget that offered something for everyone. That included the music industry.
The budget that dropped yesterday includes $60 million for music programs that help marketing of talent, music festivals, and tour support. The money will be doled out over the next two years.
To be specific:
- $20 million to the Canada Music Fund, which will help the Canadian Independent Music Association (CIMA).
- More money for FACTOR (Foundation to Assistant Canadian Talent on Recordings). It funds all sorts of musical initiatives across the country.
- $16 million to the Canadian Arts Presentation Fund, which will go to everything from supporting music festivals to help Canadian artists tour outside the country.
- $24 million to the Arts and Heritage Program.
The industry is understandably very happy with this budget. And while some may grouse at taxpayer money going to such programs, support like this will ensure Canada will continue to be a global music powerhouse. Ever dollar invested results in returns many times that.
Seems like a good deal, innit?