A Foundation To Assist Canadian Talent, was created in 1984 concurrent with the launch of MuchMusic (now known as Much), which committed a percentage of its gross annual revenues to stimulate the production of new Canadian music videos. Two years later, when MusiquePlus went on the air, it also became a sponsor, as did MuchMoreMusic when it launched in 1998. The launch of MuchMoreMusic) also marked the creation of PromoFACT, an Electronic Press Kit and website production fund for Canadian artists, independent record labels and artist management companies.
MuchFACT is now funded entirely by Much, a division of Bell Media Inc. Originally named VideoFACT, the company changed its name to MuchFACT in September, 2009. Along with the name change, MuchFACT expanded its program to include viral videos which are defined as small-budget music videos and other innovative music-related content intended for online distribution.
MuchFACT considers applications requesting co-financing for music videos and music related content six times a year. Applications are judged by a committee, and successful applicants receive non-recoupable awards.