Despite the widespread economic uncertainty, Zoom, Telefilm Canada’s European newsletter, recently reported significant growth across the EU video market, an increasingly important source of production financing.

Zoom reports VHS and DVD sales growth of nearly 20% in the past year: ‘The video sector continues to grow, and its economic role is now recognized as fundamental to production financing, in particular for films. Video sale and rental revenues will soon outstrip box-office takings, even in France, where the theatrical market is still healthy.’

Telefilm administers an annual budget of approximately $240 million. Its major funds and programs include the Canada Feature Film Fund (approximately $94 million, which includes $15 million from the Canadian Television Fund), with $84.6 million a year (in ’02/03) available for English- and French-language production and marketing.

Telefilm also administers the CTF – Equity Investment Program (approximately $111 million), the largest source of priority program financing, the Canada New Media Fund ($6 million) and the Music Entrepreneur Program ($7 million).