In a year filled with unprecedented challenges due to the COVID-19 pandemic, it is my pleasure as Chair of the Radio Starmaker Fund to present our outstanding results for fiscal 2020.
Overall demand for funding dropped this fiscal year, however, it was a decrease of only 2.36% compared to fiscal 2019. This result correlates to the Fund’s immediate response to help artists that were directly impacted by COVID-19. In this regard, the Board undertook three significant support measures.
First, we paid out all outstanding claims without any further paperwork required. This payment, made in April 2020, allowed both artists and labels to use RSF funding to cover any unexpected expenses such as last-minute tour cancellations or increased operational expenses caused by the pandemic.
Second, an extra fifth round was added in fiscal 2020, which focused exclusively on touring and provided relief funding of just over $1,000,000 to artists whose spring tours were cancelled on account of the COVID-19 pandemic. By forgiving all requirements for paperwork in April and with the addition of the touring relief round, we were able to quickly place much needed funding into the hands of our artists.
Third, in addition to providing monetary relief, changes were made to our touring programs to better reflect the current state of the industry. We expanded both domestic and international touring programs to include virtual performances and we increased the funding for Canadian tours from $2,000 to $2,500 per date, ensuring that the support for live performances provided to artists remains relevant and continues to help their development and growth.
I would like to offer my sincere thanks to our Board members for their commitment and lightening quick responses to the changing circumstances over the past year. Furthermore, 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 emerging artists and labels.
Radio Starmaker Fund