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Telefilm Canada launches new Success Index at Annual Public Meeting in Winnipeg
Fiscal 2010-2011 results also unveiled
Winnipeg, November 23, 2011 – Telefilm Canada held its third Annual Public Meeting in Winnipeg this afternoon. The event was also broadcast live via a Webcast. Michel Roy, Chair of the Board, and Carolle Brabant, Executive Director, announced details of the organization’s innovative Success Index, which will effectively measure the cultural, industrial and commercial performance of its portfolio, as well as presented highlights of Telefilm’s 2010-2011 annual report, entitled Daring to change: A new vision.
Telefilm Canada’s Success Index
In its most recent corporate plan, entitled Fostering cultural success, Telefilm stated that the creation of a broader measure of success was a top priority. Created in consultation with the Canadian audiovisual industry, the new Success Index is a quantitative tool that will allow Telefilm to measure the overall success of its investment portfolio over time. It is composed of a series of weighted attributes that are summarized under these three categories:
- Commercial (60% of the total index)
- Box-office receipts in Canada
- Gross domestic and international sales
- Cultural (30%)
- Number of selections and prizes at certain international festivals and events
- Selected awards won at certain national competitive events and festivals
- Industrial (10%)
- Ratio of private versus public funding in productions supported by Telefilm
“Telefilm and Canada’s audiovisual industry believe that theatrical box-office earnings, while still very important, tell only a part of the story, given the industry’s increasing brand appeal on the international scene and the expansion of online distribution platforms,” said Michel Roy. “Telefilm is innovating by creating a more comprehensive success index that takes into account commercial factors, cultural factors and industrial factors.”
Carolle Brabant added: “The new Success Index will paint a more accurate picture of the performance of feature films funded by Telefilm. In so doing, this success index will make it possible to better demonstrate the significant contribution of Canadian cinema on the cultural and economic fronts. As well, given the abundant information it will provide each year, the Success Index will enable Telefilm to provide more strategic, better-targeted support to the industry in the years ahead.”
Telefilm Canada’s first online-only annual report
As part of its ongoing efforts to be more environmentally responsible and to be innovative in the digital multiplatform reality, Telefilm launched its first online-only annual report.
The following are highlights from fiscal 2010-2011:
- The brand image of Canadian cinema is increasingly strong. Last year, two films—Denis Villeneuve’s Incendies and Richard J. Lewis’ Barney’s Version—together took home 52 awards and grossed $35 million at the box office globally. In all, Canadian films supported by Telefilm won 127 awards worldwide, compared to 107 the previous year.
- Total domestic market share for Canadian films was 3.1% in 2010. Within the independent film market (non-Hollywood majors), Canadian films can and do compete with a more robust 20% share.
- Financing national feature films is always an important challenge, in every country. But in an encouraging sign, Canadian private-sector investments and foreign participation doubled last year, accounting for 26% of total production budgets. The number of Canada’s coproductions with other countries also rose to 57 projects, representing a capital injection of more than 200 million foreign dollars.
- In 2010- 2011, Telefilm supported the production of 48 feature films, compared to 43 the year before—due to an increase in private-sector and foreign participation. Telefilm provided 31% of overall production costs, down from 38% the year before. In other words, by having to invest less per film Telefilm was able to fund more projects.
- Telefilm announced that it was working on a national and international promotional strategy, in partnership with the Canada Media Fund, aimed at creating a groundswell in favour of Canadian content.
- Telefilm renewed its service agreement for another year with the Canada Media Fund, marking five years of collaboration between the two organizations.
- Telefilm kept the fees for administering its programs at 6.2%, in line with its promise of sound governance for the public funds that are entrusted to it. This performance generated an administrative surplus of $1.5 million, which was re-invested into the Canada Feature Film Fund.
The 2010-2011 annual report and Annual Public Meeting Webcast are available at www.telefilm.ca/apm-2011/.
About Telefilm Canada
Telefilm Canada is a federal cultural agency dedicated to developing and promoting the Canadian audiovisual industry. Telefilm provides financial support to the private sector to create distinctively Canadian productions that appeal to domestic and international audiences. Telefilm also administers the Canada Media Fund’s programs. Visit www.telefilm.ca.
Douglas Chow, Manager, External Communications
(514) 283-0838, ext. 2225, or 1-800-567-0890