Canadian New Media Fund Receives $27.3 Million From The Government

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Canadian New Media Fund, a digital media fund supported by the government, has received $27.3 million from the Heritage Ministry, it was announced at the annual Banff World Television Festival, Variety reported. The fund is managed by the Canadian federal government’s cultural agency Telefilm. The funding might be seen as something of a consolation prize for producers, who have been hoping for greater tax incentives to promote filming in Canada.

CBC: The fund was created in 2001 to support the development, production, marketing and distribution of original Canadian new media projects in both official languages. Over the past six years, the fund has supported projects such as PC games and digital consoles, travel and tourism CD-ROMS, historical and educational websites, DVDs, and streaming audio and video online.

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You forgot to mention that they NEVER fund projects that are designed to go into profit or earn revenue. Oh, Canadull . . .

It will change…but, will take the Telcos to shakeup infrastructure and clean out the cobwebs….

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