The CBC is reporting that Canadian Heritage Minister Bev Oda is committing $29 million to fund new media over the next two years (Oda pledges funding for new media at Banff TV fest). The fund is administered by Telefilm and it appears that most of the money will be for video-based projects, though there is a mention of audio projects.

The report quotes Oda as saying “The rate and speed in which Canadians are moving into the new era seems to be lagging behind those in some other countries”. I can’t help but think that a lot of this has to do with confusion and concerns relating to copyright and licensing, and a general misunderstanding among the business community over new media, its potential and low barriers to entry.

If Canada is to become competitive in new media, it will need to simplify copyright laws and licensing fees, and initiate a campaign to educate Canadian businesses and media organizations.

Hat tip: Michael Geist