FACTOR (Foundation Assisting Canadian Talent on Recordings) has been responsible for launching the careers of countless musicians in this country. It’s a source of funding that allows this talent to focus on and promote what they do. FACTOR funding is the envy of non-Canadian musicians everywhere.
However, FACTOR, which is largely funded by pre-tax dollars from revenues generated by radio stations, also gets money from the federal government. There’s now the possibility that the feds may offer up less money. This is not good.
Andrew Cash, the president and CEO of the Canadian Independent Music Association, is sounding some alarm bells. This email went out to the membership this week:
“Let your voice be heard by sending an email to the Ministers of Canadian Heritage and Finance as well as your local Liberal MP if that is applicable. Use this action page to quickly urge them to be Music Champions and keep their promise to their local music communities by increasing the budget to the Canada Music Fund. So far, over 2000 of you have sent letters! That’s awesome. Now, let’s get that number up to 3000!
“This is really important for the music sector. Important for Canadian culture and for the economy. With a current budget of approximately $25 million annually, the Canada Music Fund (CMF) is a key part of what funds FACTOR’s ground-breaking investments in competitive music projects. Over the last five years, FACTOR has supported 6500 artists. The other major part of FACTOR’s annual budget comes from contributions from private radio broadcasters–contributions which are dwindling rapidly. For example, in 2020, FACTOR received $16 million in radio contributions. In 2024-25 those contributions could go as low as $2 million. That promised increase in the funding to the CMF, if honoured in the 2024 federal budget, will be coming in the nick of time.
“Unless it doesn’t.”
Again, go here to have your voice heard.