OMDC's Magazine Fund and programs stimulate growth for Ontario's magazine
TORONTO, Oct. 16 /CNW/ -
Ontario Media Development Corporation (OMDC) has invested $1.3 million
from April 1, 2008 to the present to support Ontario's magazine publishing
sector through its Magazine Fund and through direct support to Ontario
magazine publishers for various strategic initiatives.
Thirty-seven Ontario-based magazine publishers
(http://www.omdc.on.ca/PageFactory.aspx?PageID=5204) shared $862,500 from the
OMDC Magazine Fund
(www.omdc.on.ca/PageFactory.aspx?PageID=3292) which was
developed to increase the financial viability of Canadian magazines from
Ontario-based magazine publishers.
OMDC provided additional support to Ontario magazine publishers through
strategic training and marketing initiatives developed by industry trade
organizations and associations to encourage growth in the sector, including:
- Word On The Street, Toronto.
- Magazines Canada's
magazine marketing campaign and MagNet
- MagsUniversity (http://www.magsu.com/).
"Ontario's magazine publishing industry makes a significant economic and
cultural contribution to the province," said Karen Thorne-Stone, OMDC
President & CEO. "Ontario magazines compete for shelf space with the best that
the world has to offer and OMDC is pleased to be able to provide strategic
support for this important industry."
"The OMDC Magazine Fund is responsive to the sector's needs and
preoccupations. A good example is the eligibility of Web-based initiatives, a
timely recognition of importance of the web in magazine publishing and its
maturity as a cost and revenue centre requiring dedicated resources," stated
Mary Jane Starr, Development Officer, Canadian Geographic Enterprises. "The
OMDC Magazine Fund is well-conceived and well-managed."
"Outpost magazine has been very fortunate and grateful to have received
support from the OMDC Magazine Fund," said Matthew Robinson, Publisher,
Outpost Magazine. "Each project funded as a result of this program has played
a significant role in helping to stabilize and market our Company and develop
new business strategies for Outpost."
- OMDC's direct funding support to Ontario's magazine publishers and
trade organizations since April 1, 2008 to date was $1.3 million
through its OMDC Magazine Fund and strategic support to Ontario
magazine publishing initiatives.
- According to Magazines Canada, the value of the magazine sector in
Canada is $1.56 billion. Ontario has over 75% of the activity
(jobs/revenue) and exports more than half of magazine production to
other provinces and territories.
Economic Contribution of the Canadian Magazine Industry
(http://www.omdc.on.ca/AssetFactory.aspx?did=6162) is a study that central
focus is the net economic impact of the Canadian magazine industry on the
Canadian economy. It was commissioned by Magazines Canada, with funding
assistance from Ontario Media Development Corporation.
Ontario Media Development Corporation
(http://www.omdc.on.ca/Page3283.aspx) (OMDC) is an agency of the Ontario
Ministry of Culture (http://www.culture.gov.on.ca/english/index.html) that
facilitates economic development opportunities for Ontario's cultural media
industries including book publishing, film and television, interactive digital
media, magazine publishing, and music industries.
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For further information:
For further information: Contact for OMDC: Sharon Wilson, OMDC
Communications, T. (416) 642-6616, E-mail: email@example.com