EDMONTON, Alberta, June 27, 2018 (GLOBE NEWSWIRE) -- The Edmonton Screen Industries Office is delighted that Edmonton City Council has voted to fund the creation by the ESIO of the Edmonton Screen Media Fund in the amount of almost $4M.  The new fund will be a capital pool intended to leverage funds from other sources in order to make smart returnable investments/loans in local companies and projects such that over time the ESIO moves toward becoming self-sustaining.

The new fund will be used to make investments in, or loans to, Edmonton entrepreneurs and companies engaged in the development and production of screen media products such as films and television programs, as well as interactive digital games and mobile apps. Investment may also be made into appropriately qualified guest productions who shoot and post-produce in Edmonton.

“There are many details to be worked out, including program criteria and the investment process, but now we can get started on those things, knowing that the funding from the city is in place,” says Josh Miller, CEO of the Edmonton Screen Industries Office.  “We also want to ensure that our investments dovetail with existing provincial and federal screen media development and production programs.”

The ESIO Business Plan presented to City Council focuses on support for local ownership of intellectual property (IP) and the commercialization of Edmonton screen media products with branded elements.  Five programs have been proposed: 1) acquisition/development of quality IP, 2) networking/marketing, 3) market intelligence, 4) corporate branding and 5) a production initiative.

"The City supports ESIO's vision of a centre for media production excellence through locally produced content," says Jeff Chase, Director of Local & Emerging Economy at the City of Edmonton. "We look forward to working with ESIO to steward and encourage Edmonton’s screen media developers and producers to create projects that support our local economy."

Industry analyst Nordicity has been retained by the ESIO to establish a baseline of Edmonton screen media activity and also to update the data annually based on CoE and industry metrics to gauge the impact the ESIO and the Edmonton Screen Media Fund is having on the local economy.

The ESIO is committed to Edmonton becoming a national and international centre for screen media, which means more than being a production destination.  ESIO will work with the screen industries sector to: explore innovations and the future of the industries on multiple platforms; facilitate local content production; own intellectual property; seek out markets and distribution avenues for that content and attract a range of projects that Edmonton’s talent pool can support.

For further information, please contact:

Josh Miller, CEO
(780) 420-2990
jmiller@edmontonscreen.com