CIMA Congratulates Government Of Ontario On Making The Ontario Music Fund Permanent

The Canadian Independent Music Association (CIMA) and MusicOntario congratulate the Ontario government on its decision to permanently continue the Ontario Music Fund (OMF) at $15 million per year. This commitment, contained within Ontario’s 2015 Budget, is a clear demonstration of the Government’s leadership and support for Ontario’s music industry.

“The Ontario government’s commitment to make the Ontario Music Fund permanent is welcome news, and will give our industry the confidence to invest in Canadian artists for years to come,” says CIMA President Stuart Johnston. “We applaud the government for its continued support of the Ontario music industry.”

A three-year, $45 million fund created in 2013, the OMF has proven to be a critical driver of growth in Ontario’s music sector and the economy. The largest in Canada, the Government’s investment into the OMF is paying off already: the data shows that the first year of OMF support has created or retained 2,000 jobs and created $24 million in additional revenues for music companies. CIMA’s and MusicOntario’s member companies and artists have benefitted from the support provided through the OMF to create jobs, drive tourism, and grow their businesses and artistry to new heights.

“We congratulate the Ontario government for its generous  and continued  support of our sector through the Ontario Music Fund,”: says Rick Fenton, Executive Director of MusicOntario. “From its inception, the OMF has helped to springboard the success  and expansion of our diverse and competitive sector. We look forward to helping our members and stakeholders to continue producing tangible benefits that highlight Ontario as one of the world’s most creative artistic hubs.”

The permanent continuation of the Ontario Music Fund was a key advocacy initiative of CIMA and MusicOntario. We are grateful for the support and leadership demonstrated by the Ontario Government in continuing the Ontario Music Fund, which has been a successful driver of investment for the music community in this province.

 

For more information, please contact:

Lisa Fiorilli
Research & Communications Coordinator, CIMA
lisa@cimamusic.ca // 416-485-3152, ext. 223

 

ABOUT CIMA:

Celebrating its 40th year in 2015, CIMA is the not-for-profit national trade association representing the English-language, Canadian-owned sector of the music industry, and is the first organization of its kind in the world. CIMA represents a diverse membership consisting of Canadian-owned companies and their ambassadors, all of whom are involved in every aspect of the music, sound recording and music-related industries. They are exclusively small businesses which include: record producers, record labels, recording studios, managers, agents, licensors, music video producers and directors, creative content owners, artists and others professionally involved in the sound recording industry. CIMA’s mandate is to develop and advocate policies and services that serve to support a strong and economically stable Canadian independent music and sound recording industry, ensuring the long-term development of the sector and to raise the profile of Canadian independent music both in Canada and around the world.

 

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Ontario Sound Recording Tax Credit (OSRTC):

The Provincial Government noted that the success of the OMF had met the needs of the Ontario music industry and as a result:

  • The OSTRC has been eliminated
  • Expenditures incurred after April 23, 2015, will still be able to qualify for the OSRTC if the eligible sound recording was commenced before April 23, 2015, the expenditure was incurred before May 1, 2016, and an Ontario Music Fund grant is not received in respect of this expenditure