Twice a year FACTOR reviews all the applicant profiles in our system and reassigns applicant ratings. The next applicant profile review deadline is scheduled for Tuesday, February 28, 2017. Clients should log in to portal.factor.ca and verify that the information provided in their applicant profile is accurate and up-to-date by 11:59pm PST on this date.
The purpose of this review is to ensure that all music companies are rated according to their current level of business activity. Current ratings will remain in place until March 31, 2017. New ratings resulting from the Annual Review take effect on April 1, 2017.
All Eligible Music Companies who wish to retain or improve their company rating must fully update their profiles in advance of the Annual Profile Review deadline. This includes providing all data in support of qualifying criteria, such as artist rosters, qualifying releases, and gross revenues as applicable.
*NEW FOR THIS DEADLINE*
- All applicants must update the “What date did the applicant start operating within their primary business activity?” question on the main page of the Applicant Profile.
- Applicants are invited to provide voluntary demographic information for their President/CEO, shareholders, and partners. See our detailed news post for more information.
- For Artist Managers: New table called “List Canadian Artists Managed” must be completed. Management contracts are uploaded to the entries in this table. If you require access to contracts previously uploaded to the Artist Manager page, you must contact me by Friday, February 24th.
- For Record Labels: *NEW FUNDING OPPORTUNITY*: We have added a lower tier to the Comprehensive Music Company Program and created an opportunity for select Record Labels rated 2 or 3 to apply for one or more projects through that program, rather than going through the Juried Sound Recording Program. Twenty-five labels that meet FACTOR’s criteria for Record Label 2 or 3 will be selected to participate. This will be based on revenue performance from their must recent fiscal year. To be considered, applicant labels MUST ensure all of their qualifying criteria (including revenue, financial statements, and discographies) are updated before the Annual Review deadline.
Music companies that do not update and re-submit their updated profiles before the deadline risk losing their company rating if the mandatory information in their profiles has become outdated. If that happens, they will not have another chance to be rated until the next Semi-Annual Review in August (at which point they may achieve a 2 or 3 rating), and next year’s Annual Review (to achieve a 4 rating).
To update profiles, Applicants can log in to portal.factor.ca and review their profiles, ensuring all information is accurate and current. For assistance updating applicant profiles, please see our Applicant Profile Tutorial.