Canadian Magazine Industry News
13 June 2012, TORONTO
OMDC Mag Fund launches new year, new digital program
The Ontario Media Development Corporation has announced the launch of this year's Magazine Fund program, with an application deadline of Sept. 12, a maximum $75,000 available for each applicant (depending on company revenue), and a maximum of two projects per eligible publisher.
Like the federal Department of Canadian Heritage, the OMDC is also testing a new pilot support program for digital magazines. A digital magazine is defined as:
- if a web-based magazine, have a valid URL address specific to the title;
- if an app-based magazine, have an application currently available for download;
- maintain the following types of circulation over six months:
- Open-access service: maintain a minimum of 15,000 unique monthly visitors
- Application-based circulation: maintain a minimum of 10,000 installs
- Paid subscription service: maintain a minimum of 2,500 subscribers
OMDC encourages Ontario-based publishers to attend its orientation session on July 11 in Toronto (also available via Webex). Click here to register.
OMDC has also adjusted its assessment criteria with an increased emphasis on innovation (for either print or digital projects). Specifically, OMDC will assess applications on the following criteria and relative weightings:
- degree to which expected results are well documented in the application. For digital projects, are the direct and positive longer term impacts articulated and do they appear realistic; for traditional project are tangible, measurable with realistic results well documented in the application (18%)
- feasibility of the project with respect to budget, schedule, scope of project (24%)
- any background, previous initiatives including participation in previous OMDC programs, research to support the project’s expected success. Final reports and results for the participants in the previous year’s program will be taken into account in this area (10%)
- degree to which the project is well thought-out, fits with the company’s strategic plan, supports job creation/retention, will drive growth and/or will strengthen the business for growth in the future (18%)
- demonstrated ability of the publisher to implement the plan (15%)
- degree to which the proposal is an innovative and/or enhanced initiative that builds on standard industry strategies (15%)
The OMDC Magazine Program was developed to increase the financial viability of Canadian magazines from Ontario-based publishers. Funding will be provided to support projects that have clear, objective and measurable results and/or indicate direct and positive impact on the overall long-term business growth of the magazine publisher. Priority results include enhancement of publisher revenues and the creation/retention of jobs in the Ontario publishing industry. OMDC will measure results of the program based on return on investment and jobs created and retained.
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| Jaded says: | |
Wow, Torstar really seems to be on a mission to bankrupt one magazine after another.... |
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| Lorene Shyba says: | |
Full of terrific information, Thanks!... |
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