CRTC Axes Video Funding Foundation MuchFACT

CRTC Axes Video Funding Foundation MuchFACT
The Canadian Radio-television and Telecommunications Commission (CRTC) has announced it will pull the plug on Canadian music content creating foundation MuchFACT (A Foundation to Assist Canadian Talent).

As FYIMusic News points out, the cut was made as part of a number of regulatory decisions announced Monday (May 15). The CRTC moved to delete requirements for Much and sister station Gusto (f.k.a. M3) to contribute to MuchFACT.

The Commission also stated that MTV Canada is no longer required to "allocate $50,000, in each broadcast year, to independent production companies for concept and script development."

Founded first as VideoFACT in 1984, MuchFACT drew from MuchMusic revenues to provide grants and loans to finance the production of Canadian music videos. The organization was rebranded in 2009 and has awarded more than $100 million in funding nearly 9,000 projects.

An example of the program's success can be found in Kaytranada, whose MuchFACT-funded video for "Lite Spots" just garnered him the 2017 Prism Prize. Other Canadian notables that have benefited from the program throughout the years include Celine Dion, Nelly Furtado, the Tragically Hip, Arcade Fire, Broken Social Scene, Basia Bulat and Barenaked Ladies.