INDEPENDENT RECORD LABELS TO RECEIVE GOVERNMENT GRANTS
A couple of days ago whilst relaxing on the sofa with a glass of something, I heard in the background something that caused me to nearly choke on said beverage.
A very brief, almost throwaway comment that "Independent record labels are to receive Government Grants"!
Excuse me?? The Government helping the music industry? Did I hear right?
Apparently I did.
Article continues below...
In a joint venture between the UKTI (UK Trade & Industry) and the BPI, grants of between £5,000 and £50,000 will be awarded to independent labels or management companies looking to promote and launch their artists outside of the UK, under the banner of The Music Export Growth Scheme.
The scheme will run for an initial period of three years with a total investment pot of £3,000,000.
The scheme has been devised to support independent labels partly due to the popularity of such artists as Adele, One Direction, Ed Sheeran and others, all of whom are signed to independents and the commitment of the government to increase the UK's export market, in particular for SME's.
Priority will be given to those companies that are looking to promote bands and artists that are in the first three years of recording.
The decisions to award grants will be taken by a panel of music industry specialists with marketing expertise, such as the Music Managers Forum and administered by the BPI.
Sounds like good news to me and I will certainly be spreading the word amongst my musician friends!