Ontario launches $45M fund to boost music industry

TORONTO – A $45-million fund aimed at supporting the music industry in Ontario was officially launched Monday.

Michael Chan, minister for tourism, culture and sport, said the Ontario Music Fund – first announced in May – will support four sectors of the industry over the next three years: record labels, industry associations, music startups and promoters.

Speaking at the Revolution Recording studio in Toronto, Chan said applications are open immediately for record labels and industry associations, while startups and promoters have to wait until Nov. 7.

Chan said the fund will speed up growth in the province’s already strong music sector.

“Ontario is the heartland for music in Canada, generating over $420 million in revenue, representing more than 80 per cent of the national total,” he said.

The fund, administered through the Ontario Media Development Corp., will create a healthy “music ecosystem,” he said, which will in turn boost the province’s economy.

Celebrated Toronto rapper and producer Jason D. Harrow, better known as Kardinal Offishall, attended the launch.

Kardinal, who began his career in Toronto during the mid-1990s, is often dubbed Canada’s “hip hop ambassador,” and has won three JUNO awards.

He said there was some form of government funding available then – “many moons ago” – which helped propel him to success.

“Hopefully, it’ll help keep the legacy here, and have the stars blossom in Canada first before they go elsewhere. ”

The program’s funding categories, dubbed streams, are formally called Music Company Development, Music Industry Development, Music Futures and Live Music.

Music Company Development – for record labels – will fund business expansion, recording or production. Eligible firms must be based in Ontario, and earn above $100,000 in annual revenue. They have until Dec. 9 to apply.

Music Industry Development – for industry associations – seeks to develop talent through events such as training. Non-profits or training organizations are eligible. The application deadline is Jan. 31, 2014.

Music Futures is for emerging music startups, artist entrepreneurs and small-scale record labels. Applicants must have annual revenues between $35,000 and $100,000.

Live Music is a category created for increasing the number of performances held in Ontario. Eligible are music promoters, presenters and agents.

Those interested can start applying Nov. 7 for Music Futures and Live Music, and will have until Jan. 6 next year before applications close.