Telefilm to invest another $2M annually via Talent Fund

The new coin to come over the next seven to eight years was announced by Telefilm chair Michel Roy at Prime Time in Ottawa (Roy pictured).

Telefilm Canada is to invest another $2 million a year over the next seven to eight years into Canadian film as part of its private-sector Talent Fund initiative.

That timeline emerged Friday when Telefilm Canada chair Michel Roy delivered a keynote address to Prime Time in Ottawa.

The new $14 million war chest is part of a bid by the funding agency to diversify its sources of financing beyond government support, and find new markets and audiences for domestic film.

“Given the size of today’s production budgets, the (talent) fund offers private donors a new vehicle to channel their support into your projects,” Roy told indie producers.

His speech coincided with the release of Telefilm’s latest three-year strategic plan, which is upfront about the challenges facing Canadian film as the industry navigates a new digital frontier.

“Traditional, stable business models are being challenged; new ones are tested every day, but the future is still unclear,” the Telefilm report, entitled Inspired by Talent. Viewed Everywhere, stated.

At the same time, the plan identifies the increasing international reach and new milestones of Canadian film as new challenges are faced down.

“Canada today has an audiovisual sector with global impact, driven by seasoned leaders who share our conviction that the industry is both mature and increasingly complex, requiring both big ideas, and big shoulders,” the plan reads.

To reach its latest goals, Telefilm is focusing on Canadian content promotion, stepping up market measurement and securing new funding partners, like those backing the Talent Fund.

“Clearly, we’re going to continue funding movies, to manage programs. But that won’t be our sole raison d’être. Our organization exists today to develop an industry and promote the excellence of its product,” Roy told the Prime Time audience.