The Rockefeller Foundation initiated the Media Arts Fellowships in 1988 to fund gifted media artists in the U.S. Beginning in 1992, Fellowships were also awarded in Latin America. Over the years the program grew to include additional activities beyond the awarding of Fellowships and its funding sources diversified.

The Program is currently co-funded by the Rockefeller Foundation and the Ford Foundation. From 1992 - 2001, the John D. and Catherine T. MacArthur Foundation co-funded the Latin American Fellowships.