New music fund for Ontario

DigitalMusicNews reports that the province of Ontario in Canada has set aside a massive $45 million  for its new Ontario Music fund. The new fund for music was pioneered by Michael Chan, Minister of Tourism, Culture and Sport. In an announcement, Chan said, “Ontario is the heartland for music in Canada, generating over $420 million in revenue, representing more than 80 percent of the national total". The music fund will be available to several industry sectors: Music Company Development will support record labels, Music Futures will promote music training and awards, Live Music will encourage booking agents and music events, and Music Industry Development will assist small record producers with capital, sales and guidance. Foreign labels can use the funds to "produce and market the recordings of local musicians, and to attract established foreign international artists to record in Ontario”. Applications for company development and futures are now open, and  applications for live music and industry development will open on November 7th:  all close by January 2014.