Touring the world, making music videos, running the show behind the scenes, keeping record labels afloat and more: The alleged heist of nearly $10-million in taxpayer money from the music-industry funding body FACTOR has underscored just how much the sector depends on its support.in November that the Foundation Assisting Canadian Talent on Recordings discovered in June that a “cyberthief” had allegedly infiltrated its Bank of Nova Scotia account, taking $9.8-million.
Explainer: What is FACTOR, and what does its allegedly missing $9.8-million mean for the music industry? . Even an abridged court process will take an unforeseeable amount of time – leaving much of the music sector in the lurch. FACTOR’s live-performance funding helped TRP.P bring a nine-piece band to perform at the Favela Sounds festival in Rio de Janeiro last year. Without the support of FACTOR and other government grants, “art appreciators would suffer,” Pagliacci says, “because that cost is going to get put onto the ticket sales, it’s going to get put onto the merch, and it’s going to cause artists to become more desperate to be compensated fairly for their work.
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