Canadian Magazine Industry News
11 May 2011,     GATINEAU, QUE.
Federal funds available for magazine or digital projects
The Canada Periodical Fund's Business Innovation component for 2011 - 2012 is now open for business with the launch of the new Applicant's Guide.

The fund, worth a total of $1.5 million when it was originally established, offers project funding to eligible small and mid-sized printed magazine and digital periodical publishers. It encourages innovation to adapt to changing market conditions and contributes to the diversity of content sought by Canadian readers.

CPF funding can represent up to 75% of the total eligible costs of the project up to a maximum of $25,000 per periodical per government fiscal year.

The maximum amount is established as follows:

    * $10,000 for a business plan;
    * $15,000 for a marketing plan or market research;
    * $25,000 for all other types of projects.

The CPF makes a special note about arts and literary magazines, many of which have been cut off from other forms of CPF funding when the program was established a few years ago to replace the old Canada Magazine Fund. Arts and literary magazines recognized for excellence and awarded a grant by the Canada Council for the Arts in 2010-2011 will be given priority in the assessment of their project proposals for this round of Business Innovation grants.

Eligible print magazines must have an average circulation of no less than 250 and of no more than 45,000 copies per issue, which must be at least 50% paid or direct-request (with some exceptions).

Eligible digital publications are defined as:

"Primarily text, photographic and illustrated editorial content delivered through a website, download or email that is published on a regularly scheduled basis under a common title and governed by an editorial function."

All applications must be received prior to the project start date. CPF encourages publishers to submit applications as soon as possible and preferably, four months prior to the beginning of the project.

For the Business Innovation for Print Periodicals sub-component, applications are accepted throughout the year. For the Business Innovation for Digital Periodicals sub-component, applications must be received by July 4, 2011.

For full details and application forms visit the Canadian Heritage website here.

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