Canada, Belgium Unveil Digital Media Co-Production Fund
The transatlantic partners give a nod to the growing global online video market
Canada, the country behind pioneering film and TV co-production subsidies, is now offering supporting coin for domestic producers and foreign partners jointly making and marketing cross-platform digital content for the world market.
The Canada Media Fund and Belgian regional agency Wallimage on Friday launched a $600,000 subsidy fund for transatlantic partners to co-produce global transmedia properties. Each agency will put up half of the subsidy pool for Canada-Belgium digital co-productions that could include third-party financing.
Faced with Netflix Canada, YouTube and other U.S. digital platforms dominating the online video space, the Canada Media Fund earlier this year unveiled similar digital media funds with agency partners in Brazil and New Zealand to generate more competing content.
The latest agreement is a nod by Canada and Belgium to an increasingly important world online video market. Wallimage CEO Philippe Reynaert in a statement Friday cited the Canada Media Fund, the main source of subsidies for Canadian indie producers, as his "go-to-market model" for transmedia co-productions.