Canada’s Independent Production Fund has announced that 17 scripted drama series will receive funding in its latest round of financing, including 13 new productions, the organization announced Friday.
The fund invested nearly $2 million across the 17 selected projects. Eleven of the web series are in English, and 6 are in French. A total of 188 applications were submitted to the IPF in the first stage of the applications process, which were eventually cut down to a 32-project shortlist by a pre-selection committee.
The IPF recipients are fortunate to have that influx of cash — according to a study released Monday by the Independent Web Series Creators of Ontario (a province that is Canada’s biggest production hub) most web productions are self-financed with 68% of respondents having relied on their personal savings to fund their projects in 2013.
Only 18% were able to draw on revenue from their previous web series, and 41% of creators said they had no revenue from their web productions in 2013.
According to the study, conducted by analytics firm Nordicity, the average budget for a web series last year was $68,400 and only 17% of respondents exceeded that budget range.