President's Message
The year 1996 was one in which some Funds grew while other Funds floundered. It was a year in which television producers cheered one day and despaired the next as announcements piled on top of each other. The Maclean Hunter Television Fund stood out again in 1996 for its remarkable stability and on-going commitment to its selected niche market - dramatic television series.
127.5 hours of original Canadian dramatic programming were produced with the support of the MHTV Fund. We invested almost $3 million in 13 new series and 16 training programs across the country. Analysis of audience size and export sales shows that more and more Canadian audiences are tuning in to Canadian programs and more widespread foreign audiences are viewing more of Canada on their home screens. Today Canadian children are reaping the benefits of being able to watch an extraordinary range of high quality kids series - and being able to purchase a wide range of related licensed products. Merchandising became the hot topic of the year, turning television producers into toy moguls and opening up lucrative new markets. Like the producers, the MHTV Fund is learning the ins and outs of this complex but very important new source of recoupment potential for Canadian programs.
During 1996 the MHTV Fund celebrated its 5th anniversary and enjoyed a remarkable round of industry plaudits in the trade publications. $18.5 million has been invested by the Fund in 200 different projects since its inception in 1991, including 71 series, 16 pilots and 113 special projects. Thirteen broadcasters have partnered with us to bring these productions to Canadian audiences. As administrators of the Cogeco Program Development Fund we have additionally been able to encourage the development of 57 potential dramatic series since 1992, many of which have successfully proceeded into production.
Thanks to the income generated through prudent financial management of the endowments made by Maclean Hunter Limited amounting to over $30 million and recoupment on our investments, the MHTV Fund is able to operate completely independently as a corporate foundation with charitable status and with $3 million available for distribution annually.
The close of 1996 saw us saying 'Farewell and thank you' for outstanding contribution to Roman Melnyk, one of our dedicated and hard working Directors as he joins the world of private broadcasting. We wish him every success.
Not to be last among the signage dotting the information highway, the MHTV Fund Web Site will soon be on the road and in full operation! Watch for the latest news and best dramatic series from the MHTV Fund!
Peter Mortimer
President