Thank you very much.
Thank you, members of the committee, for the invitation to speak to you guys today.
I'm Naveen Prasad, executive vice-president and general manager of Elevation Pictures Corp. We're a private Canadian film and television company, based in Toronto, which launched just under a year and half ago. I myself have had the privilege of working in the Canadian content distribution industry and in partnership with this country's independent film and television production community for over 15 years. I echo the points made by Mr. Rapkowski and Monsieur Roy, and, therefore, I'll be a bit more brief than they were, but I'll provide further colour and thoughts based on my professional knowledge and by highlighting some of my company's current activities.
My company's business plan has us releasing about 20 theatrical releases per year, of which about five are certified Canadian content. Some of our upcoming Canadian film releases include Patricia Rozema's Into the Forest, starring Ellen Page; Room, based on a novel by fellow Canadian Emma Donoghue, which was a New York Times bestseller and was shortlisted for both the Booker Prize and the Governor General's Awards;Regression, a $20-million Canadian co-production with Spain, which has already secured a wide-release commitment stateside by the Weinstein Company; and Hyena Road, Paul Gross' upcoming epic about the Canadian military's efforts and sacrifices made during Afghanistan. Perhaps you saw the teaser trailer, which we were able to secure on the front of both The Imitation Game and American Sniper in theatres. If not, it would great if you guys could check it out. We're really pleased to get that type of awareness for a Canadian film like that.
I'm highlighting these titles as examples of what we, as an industry, are bringing to Canadian audiences. My friends here at eOne and the rest of the CAFDE company members have brought many other important, successful and culturally valued films to market, and while doing so have helped to foster various generations of talent. Collectively, we spend tens of millions of dollars annually supporting the production, distribution, and marketing of Canadian films. Now while about a quarter of my company's films are Canadian, we still rely on being able to secure many foreign films, the majority being non-studio Hollywood features. We require this mix of content and this number of overall titles to remain fiscally sound.
We are independent companies that have to compete with U.S. studios across all distribution windows. Those include theatrical, DVD, VOD, pay-per-view, television broadcasts, and over-the-top SVOD. Our slate of production and access thereto need to be competitive at all these levels of distribution. But in the end, we won't be able to compete with the leverage some of the studios have now begun exerting to acquire what are in fact non-studio films, some example of which Mr. Rapkowski just spoke.
To reiterate what was said earlier on, our ability to invest in bringing Canadian films to theatres and homes is directly tied to our ability to secure the rights to the non-studio fare. We are looking for this committee's support and resolve to further strengthen the film distribution policy of 1988 to help us in this effort.
To circle back to Canadian films, I'm very proud of how the overall industry has grown over the past few decades. The support of Telefilm Canada, broadcasters, and us film distributors has played an important role in advancing our nation's production industry and filmmaking community. I've often referred to it as the three-legged stool, but it's clear that some of the legs are now beginning to wobble. Telefilm Canada has been a great champion and key catalyst in getting Canadian films made. I realize, given Heritage's oversight of Telefilm, that what I'm saying is not new to you, but I'd be remiss if I did not at least mention how much we, as a distributor, value their partnership. The financial support they provide through the development, production, and marketing of films cannot be understated.
The 2013 Nordicity report, “The Economic Contribution of the Film and Television Sector in Canada”, in which Telefilm plays a large role, stated that in 2011 the industry provided over 260,000 full-time jobs; generated $12.8 billion in labour income, $20.4 billion in GDP, and $2.4 billion in exports; and returned $2.8 billion in federal taxes. These are fantastic figures. I kindly ask that this committee work to ensure that Telefilm's funding capabilities not only be maintained so that it can continue to help stimulate such continued economic success but also be further strengthened to the level it was at prior to the $10.6 million in funding cuts imposed on it back in 2012. To a business person, it seems penny wise and pound foolish to have scaled back on an investment that pays back so well.
While the goals of Heritage and the CRTC should be aligned, there has been—and I quote the Standing Committee on Canadian Heritage's previous statement back in 2005—an “absence of a broadcasting policy to support the promotion of Canadian feature films”. Sadly, that holds true a decade later: There are no broadcast regulatory requirements designed to truly support domestic feature films. Under the group-based licensing, as approved by the CRTC, feature film has no defined standing under any broadcaster's program expenditure requirements.
Nevertheless, the success of Canadian films is and will continue to be dependent on broadcast licences, at both the premium pay level and the post-pay windows of conventional and specialty. I ask that Heritage and the CRTC work together to set meaningful benchmarks for the programming of Canadian films across all broadcast windows.
Again, I appreciate this opportunity to speak before you guys today. I would be happy to answer any questions you may have.