5 Financing of Canadian television programs and feature films

Canadian producers finance their television programs and theatrical feature films by raising funding from a variety of different sources.

Canadian television programs almost always receive a broadcaster licence fee from a Canadian private or public broadcaster. Canadian distributors, as well as foreign pre-sales and advances, are also often significant sources of financing for many productions. Canadian producers additionally receive federal and provincial tax credits (see Box 4), as well as funding or financing from the Canada Media Fund (CMF), Certified Independent Production Funds (CIPFs)[20] and potentially other types of private or public funding.

Canadian theatrical feature films also raise financing from many of the same sources, although the relative proportions can differ significantly. Broadcaster licence fees are typically low, while financing from Canadian distributors, Telefilm Canada, and foreign pre-sales and advances tends to be relatively higher. Producers of Canadian theatrical feature films also receive federal and provincial tax credits, funding from the CMF and CIPFs, as well as other forms of private and public funding.

Highlights from 2024/25

  • As in prior years, Canadian content production was supported by a number of different financing sources, with important contributions from broadcaster licence fees, federal and provincial tax credits, production funds, and distribution pre-sales and advances.
  • Differences in financing structures were observed between English- and French-language production, as well as between television production and theatrical feature films.
  • Canadian distributors and foreign pre-sales and advances were much more important sources of financing for English-language production (34%) than for French-language production (2%). Conversely, private and public broadcaster licence fees accounted for a larger share of financing for French-language production (44%) than for English-language production (14%).
  • While broadcaster licence fees accounted for 28% of the financing of Canadian television production, they represented less than 2% of the financing for Canadian theatrical feature films.
  • French-language Canadian theatrical feature film production continued to rely on significant financing from Canadian broadcaster licence fees, other public funding sources (i.e. excluding Telefilm Canada and the CMF), and Telefilm Canada.

5.1 Canadian content

Financing

Box 4 Financing from Canadain production companies
Federal and provincial tax credits represent part of a Canadian production company’s contribution in film and television projects. Canadian production companies receive tax credits based on their eligible labour expenditures, with some provinces (i.e., Alberta and Manitoba) providing tax credits that are based on all production expenditures rather than solely on eligible labour costs. In almost all cases, the amount of tax credits received by the producer for a specific project is invested directly into that project, in order to complete the project’s financing.

After taking into account federal and provincial tax credits and production company financing, the producer’s contribution to a production budget is, at a minimum, between 30% and 35% of the budget in most instances. Producers also organize domestic and foreign distribution, as well as arrange bank financing.

Many producers also point to the ‘new normal’ that sees production companies take on greater financial risks in developing film or television projects prior to obtaining production financing. In part, industry consolidation among Canadian broadcasters (i.e. the primary buyers of Canadian content), and a subsequent strengthening of their market power in the television content commissioning market have contributed to this new normal.

Exhibit 5-1 a) Financing for Canadian film and television production: All languages

2020/212021/222022/232023/242024/25
Private broadcaster licence fees293566602445432
Public broadcaster licence fees339399401423436
Federal tax credit (1)265391427372366
Provincial tax credits (1)487771837710705
Canadian distributors (2)360433555386449
Foreign pre-sales and advances (3)332493495470415
Canada Media Fund (4)280288290303292
Telefilm Canada4382868489
CIPFs (5)5356464439
Other public (6)98216252205180
Other private (7)68195255252212
Total2,6183,8904,2453,6953,615

Source:
Estimates based on data obtained from CAVCO, CMF Telefilm Canada and CIPFs.

Note:
Some totals may not sum due to rounding. Includes an estimate of CRTC-certified television production.
(1) Canadian production companies receive federal and provincial tax credits based on their eligible expenditures, and, in almost all cases, invest their tax credits directly into their television projects, in order to complete their project financing.
(2) Canadian distributors’ financing includes minimum guarantees and advances invested in television programs and theatrical feature films in exchange for rights to market, license and exhibit the audiovisual productions in Canada, unsold territories outside of Canada or on global distribution platforms.
(3) Foreign pre-sales and advances include broadcast licence fees, minimum guarantees, advances and other forms of financing from broadcasters, distributors or other organizations based outside of Canada.
(4) Only programming in the fiction, children’s and youth, documentary and variety and performing arts categories is eligible for CMF funding.
(5) CIPFs include funds set up to support the development and production of Canadian content, which have been certified by the CRTC in accordance with Broadcasting Regulatory Policy CRTC 2016-343. CIPFs receive financial contributions from television, online streaming, and cable and satellite companies operating in Canada.
(6) ‘Other public’ includes financing from provincial governments (excluding SODEC), and other federal government departments and agencies; excludes federal and provincial tax credits, Canadian public broadcasters’ licence fees and funding from Telefilm Canada.
(7) ‘Other private’ includes financing from production companies (excluding the tax credit contribution), broadcaster equity and other Canadian private investors.

English-language Canadian content production experienced lower levels of financing from other private sources, foreign distributors and broadcasters, the CMF, CIPFs, and Canadian private broadcasters, which were offset by higher levels of financing from Canadian public broadcasters, Canadian distributors and Telefilm Canada.

Exhibit 5-1 b) Financing for Canadian film and television production: English-language, bilingual format and non-official languages

2020/212021/222022/232023/242024/25
Private broadcaster licence fees140260304206185
Public broadcaster licence fees155207200181186
Federal tax credit (1)185275310257250
Provincial tax credits (1)360588657542517
Canadian distributors (2)350417537362430
Foreign pre-sales and advances (3)332480493464408
Canada Media Fund (4)188195197199188
Telefilm Canada2656585659
CIPFs (5)3739343129
Other public (6)217714013981
Other private (7)28127177190156
Total1,8202,7223,1062,6282,489

Source:
Estimates based on data obtained from CAVCO, CMF Telefilm Canada and CIPFs.

Note:
Some totals may not sum due to rounding. Includes an estimate of CRTC-certified television production.
(1) Canadian production companies receive federal and provincial tax credits based on their eligible expenditures, and, in almost all cases, invest their tax credits directly into their television projects, in order to complete their project financing.
(2) Canadian distributors’ financing includes minimum guarantees and advances invested in television programs and theatrical feature films in exchange for rights to market, license and exhibit the audiovisual productions in Canada, unsold territories outside of Canada or on global distribution platforms.
(3) Foreign pre-sales and advances include broadcast licence fees, minimum guarantees, advances and other forms of financing from broadcasters, distributors or other organizations based outside of Canada.
(4) Only programming in the fiction, children’s and youth, documentary and variety and performing arts categories is eligible for CMF funding.
(5) CIPFs include funds set up to support the development and production of Canadian content, which have been certified by the CRTC in accordance with Broadcasting Regulatory Policy CRTC 2016-343. CIPFs receive financial contributions from television, online streaming, and cable and satellite companies operating in Canada.
(6) ‘Other public’ includes financing from provincial governments (excluding SODEC), and other federal government departments and agencies; excludes federal and provincial tax credits, Canadian public broadcasters’ licence fees and funding from Telefilm Canada.
(7) ‘Other private’ includes financing from production companies (excluding the tax credit contribution), broadcaster equity and other Canadian private investors.

The annual growth in French-language Canadian content (5.4%) in 2024/25 was supported primarily by provincial tax credits, increased levels of financing from other direct public sources (i.e. other than Telefilm Canada and the CMF), and Canadian broadcasters.

Exhibit 5-1 c) Financing for Canadian film and television production: French-language

2020/212021/222022/232023/242024/25
Private broadcaster licence fees153306298239247
Public broadcaster licence fees184192200242250
Federal tax credit (1)80117117115116
Provincial tax credits (1)127183180168189
Canadian distributors (2)1016192519
Foreign pre-sales and advances (3)213367
Canada Media Fund (4)929393104104
Telefilm Canada1726282830
CIPFs (5)1617121310
Other public (6)771381126699
Other private (7)4068786256
Total7981,1691,1391,0681,126

Source:
Estimates based on data obtained from CAVCO, CMF Telefilm Canada and CIPFs.

Note:
Some totals may not sum due to rounding. Includes an estimate of CRTC-certified television production.
(1) Canadian production companies receive federal and provincial tax credits based on their eligible expenditures, and, in almost all cases, invest their tax credits directly into their television projects, in order to complete their project financing.
(2) Canadian distributors’ financing includes minimum guarantees and advances invested in television programs and theatrical feature films in exchange for rights to market, license and exhibit the audiovisual productions in Canada, unsold territories outside of Canada or on global distribution platforms.
(3) Foreign pre-sales and advances include broadcast licence fees, minimum guarantees, advances and other forms of financing from broadcasters, distributors or other organizations based outside of Canada.
(4) Only programming in the fiction, children’s and youth, documentary and variety and performing arts categories is eligible for CMF funding.
(5) CIPFs include funds set up to support the development and production of Canadian content, which have been certified by the CRTC in accordance with Broadcasting Regulatory Policy CRTC 2016-343. CIPFs receive financial contributions from television, online streaming, and cable and satellite companies operating in Canada.
(6) ‘Other public’ includes financing from provincial governments (excluding SODEC), and other federal government departments and agencies; excludes federal and provincial tax credits, Canadian public broadcasters’ licence fees and funding from Telefilm Canada.
(7) ‘Other private’ includes financing from production companies (excluding the tax credit contribution), broadcaster equity and other Canadian private investors.

There was an estimated $938 million spent on the production of feature-length Canadian content in 2024/25, across the television and theatrical release windows. Outside of tax credits, the largest sources of financing for that production were foreign pre-sales and advances, Canadian distributors, Telefilm Canada and other direct public funding.

Exhibit 5-1 d) Financing for Canadian film and television production: Feature-length production (television + theatrical release)

2020/212021/222022/232023/242024/25
Private broadcaster licence fees91122158
Public broadcaster licence fees13674
Federal tax credit (1)5867937973
Provincial tax credits (1)142176236211196
Canadian distributors (2)148131221145127
Foreign pre-sales and advances (3)169186239219203
Canada Media Fund (4)516252889
Telefilm Canada4382868415
Other public (6)3575758576
Other private (7)41608595109
Total6508071,087968900

Source:
Estimates based on data obtained from CAVCO, CMF Telefilm Canada and CIPFs.

Note:
Some totals may not sum due to rounding. Includes an estimate of CRTC-certified television production.
(1) Canadian production companies receive federal and provincial tax credits based on their eligible expenditures, and, in almost all cases, invest their tax credits directly into their television projects, in order to complete their project financing.
(2) Canadian distributors’ financing includes minimum guarantees and advances invested in television programs and theatrical feature films in exchange for rights to market, license and exhibit the audiovisual productions in Canada, unsold territories outside of Canada or on global distribution platforms.
(3) Foreign pre-sales and advances include broadcast licence fees, minimum guarantees, advances and other forms of financing from broadcasters, distributors or other organizations based outside of Canada.
(4) Only programming in the fiction, children’s and youth, documentary and variety and performing arts categories is eligible for CMF funding.
(5) CIPFs include funds set up to support the development and production of Canadian content, which have been certified by the CRTC in accordance with Broadcasting Regulatory Policy CRTC 2016-343. CIPFs receive financial contributions from television, online streaming, and cable and satellite companies operating in Canada.
(6) ‘Other public’ includes financing from provincial governments (excluding SODEC), and other federal government departments and agencies; excludes federal and provincial tax credits, Canadian public broadcasters’ licence fees and funding from Telefilm Canada.
(7) ‘Other private’ includes financing from production companies (excluding the tax credit contribution), broadcaster equity and other Canadian private investors.

[20]Certified Independent Production Funds (CIPFs) include funds established to support the development and production of Canadian content and certified by the CRTC in accordance with Broadcasting Regulatory Policy CRTC 2016-343. CIPFs receive financial contributions from television, online streaming, and cable and satellite companies operating in Canada. There are currently 11 CIPFs: Bell Fund, Black Screen Office Fund, Canadian Independent Screen Fund for Black and People of Colour (BPOC) Creators, Eastlink TV Independent Production Fund Program, Independent Production Fund, Indigenous Screen Office Fund, Quebecor Fund, Rogers Group of Funds, Shaw Rocket Fund, Telefilm Canada Talent Fund, and TELUS Fund.