Broken Social Scene. Image via flickr / TonyFelgueiras
Yesterday in a early-morning press conference at Lee’s Palace, Liberal Finance Minister Charles Sousa and Michael Chan, the Minister of Tourism, Culture and Sport announced the Ontario Liberal government’s plan to launch of $45 million Ontario Music Fund to support “production, distribution and performance of music in the province and to promote Ontario-made music across Canada and around the globe.” The money will be distributed through grants over the course of 3 years starting in 2013, but Minister Sousa, who will present the new Liberal provincial budget this afternoon at 4pm, revealed few other details about the fund. It remains to be seen whether today’s unveling of the Liberal government’s budget will affect plans for the new fund.
With 80% of the Canadian music industry is based in Ontario, the fund hopes to bring economic growth to the province. Last year, Minister Chan orchestrated the creation of a “live-music strategy” which saw $5 million dollars invested in music festivals in the province to draw tourists to the province. Annually, the music industry contributes over $300 million dollars to Canada’s GDP.
[via Toronto Star]