It is with great pleasure that I present the Radio Starmaker Fund’s outstanding results for fiscal 2016.
An important accomplishment this past year was the launch of the digital fulfillment system. Since introducing the transition to the digital completion of claims and direct deposit, there has been a 50% increase in the amount of money paid out to artists each month. Our staff has been working hard with our web development partners, Silverorange, to ensure that the site has been successfully designed to be intuitive and easy to use. This means that now our entire operation is 100% digital, including the tracking of our important statistics. This move came about as a direct response to recommendations from the KPMG review completed by the CRTC in 2014. We are very pleased to be able to respond and implement this important advance so quickly.
The highlights from this year’s statistics continue to be impressive. We have an approval rate of over 90% for applicants, which has been consistent year over year. This means people who meet our criteria can be assured of support in some form. In addition, we saw over 50% of our funding devoted to touring support both here and abroad, allowing us to support the very central component of the music business that provides the most direct financial benefit to artists and their managers. This year we also made changes to our core programs to better reflect the current state of the industry. We lowered our sales eligibly requirements and significant investment amounts for rock and pop to match the urban and country genres for both major and independent labels; we increased the number of Canadian touring dates per year from 25 to 30 and; we increased the money available for all dates outside of Canada from $2,000 to $2,500 per live appearance. With these changes, 21% of the Radio Starmaker Fund’s overall funding went to new artists in fiscal 2016. It is critical to our future success that we continue to bring in new artists each year for their development and growth.
I am very excited to see these excellent results. I want to thank our Board members for their dedication and commitment over the past year and most importantly I would like to thank our excellent Radio Starmaker staff, Chip Sutherland, Jerry Leibowitz, and Michelle Farres, who continue to provide the highest level of dedication and support for our very important constituency of Canadian labels and emerging artists.
Radio Starmaker Fund