Emerging UK musicians are set to benefit from a £2.8 million boost to build their global brand.
The Department for International Trade and the BPI have relaunched the Music Export Growth Scheme (MEGS) to support independent music companies, labels, distributors and management companies as they seek to break into overseas markets. Small and medium sized music companies will be eligible for grants ranging from £5,000 to £50,000 delivered through the Exporting is GREAT campaign and operated through the BPI.
The MEGS campaign has been relaunched after helping artists such as Young Fathers and Catfish And The Bottlemen by distributing more than £1.6m in grants between January 2014-March 2016.
Funding will be available until 2020, with the first round of nominations open from today (October 10). Application forms are available through the BPI website and the deadline for initial applications is November 7.
International trade minister Mark Garnier said: “UK music has a long history of inspiring millions across the world and influencing generations of artists. We are the second biggest exporter of music in the world and one in every six albums sold globally belongs to a British act. From The Beatles to Skepta, British music is part of the very fabric of our nation and heritage. Our Music Export Growth Scheme will champion the incredible raw talent that we have to offer by giving the support and financial backing many artists need to take that next step.”
BPI chief executive Geoff Taylor said: “The Music Export Growth Scheme has proved a big hit with independent UK artists and their labels, supporting their promotional plans with crucial investment as they look to break into new markets and helping to boost British music sales overseas. The strength of Britain’s music and creative industries are a strategic asset for this country and can act as a powerful international calling card in a world in which new international trading relationships need to be forged.”
The UK music industry employs over 117,000 people and contributed over £4 billion to Britain’s economy in 2015.