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This was an exciting year for me at the Radio Starmaker Fund as I had the privilege of becoming the Chair of the fund. Sylvie Courtemanche, the previous chair, made this an easy job for me by handing over such a well run and effective operation. Consequently, I’m pleased to present the Radio Starmaker Fund’s results for fiscal 2018.
This year’s application approval rate decreased to just under 75% for applicants. This was due to budgetary restrictions that were put in place to ensure balance in our long-term capital funding. Fiscal 2017/ 2018 also saw some industry transactions that resulted in new broadcaster contributions that will extend the life of the fund for an extra few years. As a result, we anticipate that next fiscal will see a higher application approval rate.
We did see 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 touring programs to better reflect the current state of the industry. We expanded our Canadian touring dates per year from 30 to 35; US dates from 35 to 40; and we expanded the UK, France, and Germany number of touring dates from 15 to 20. These changes will help us ensure that the support for live performances provided to artists remains relevant and continues to help their development and growth.
I would like to thank our Board members for their dedication and commitment over the past year. Most importantly, I would like to express the Board’s gratitude to 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