Today at RioContent Market the Canada Media Fund (CMF) and RioFilme announced an agreement for the two organizations to join efforts to support the codevelopment of television projects and related digital media content. The incentive’s budget is set at CAD $300,000, with each funding partner investing half of the total amount. The incentive will take the form of a non-repayable contribution of up to 75% of a project’s eligible costs, up to a per-project maximum of CAD $50,000 per funding partner.
According to Valerie Creighton, CMF President and CEO: “The Canada Media Fund’s mandate includes supporting the development and production of television and related digital media content by Canadian producers with international partners. Given the wealth of creative talent and significant market opportunities in Brazil, the CMF is very pleased to be working with RioFilme to foster partnerships between content producers from Brazil and Canada.”
“This is the first time that RioFilme and the City of Rio de Janeiro launch a development program with another country” said Adrien Muselet, Chief Operating Officer of RioFilme. “Canada has a very creative and high-performing audiovisual sector, so it’s a great opportunity for producers in Rio to find new international partners. An international coproduction project is much more likely to happen when both parties work on the scenario together from the start.”
To qualify for the incentive, projects must involve at least one Brazilian producer eligible under RioFilme criteria, and one Canadian producer eligible under CMF criteria. Financing for the projects must include a development fee provided by an eligible broadcaster in each country. The agreement applies to programs in the documentary, children & youth and drama genres, including animation projects.
The CMF incentive will be awarded to the Canadian portion of eligible codevelopment projects on a first-come, first-served basis starting in April, 2014. Details and guidelines for this incentive and for all 2014-2015 CMF programs will be released later this month.