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Modernization of the Canada Periodical Fund: Adapting to the Digital Era
The Government of Canada recognizes the importance of fostering strong and dynamic magazine and community newspaper sectors that meet the evolving needs of readers. The industry is facing major challenges due in part to declining advertising revenues and distribution in an increasingly digital marketplace. This is why the Government is taking steps to modernize the Canada Periodical Fund (CPF) by prioritizing activities that will lead to the production of quality Canadian editorial and journalistic content, regardless of the platform used to offer it.
One of the goals of this modernization is to help publishers of paid-circulation magazines and non-daily newspapers develop the tools they need to contribute to our economy and reach readers wherever they are. Two of the three components of the CPF will be modernized: the Aid to Publishers (ATP) component and the Business Innovation (BI) component.
In order to help publishers adapt to the changes, the modernized CPF will be implemented over five years.
The Government of Canada has long sought to strengthen the capacity of the Canadian magazine and community newspaper industries in all regions by supporting viable publishers. With this modernization, the Government is continuing its efforts to support the periodical industry, which plays a vital role in Canada’s identity, as well as its economy.
Stakeholders will have the opportunity to meet with representatives from Canadian Heritage to discuss the envisioned changes to the CPF in order to be prepared for the first application intake under the modernized Fund in the fall of 2020.
The modernization of the Canada Periodical Fund is part of the federal government’s strategy to support journalism in Canada. In addition to these changes to the CPF, the Government launched in 2019 the Local Journalism Initiative, which is administered by the Department of Canadian Heritage, as well as three new fiscal measures, which are administered by the Canada Revenue Agency.
For more information on the modernization of the Canada Periodical Fund, see the attached backgrounder.
For more information visit the government of Canada website here
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