British music companies are to receive government funding to support the promotion of the nation’s music around the world. Fifteen talented British music acts to receive financial support for touring overseas. British music companies behind some of the UK’s most hotly tipped artists are to receive funding to support the promotion of the nation’s music around the world. Award-winning multi-instrumentalist, Imogen Heap, and the support band for AC/DC’s famous Black Ice World Tour, Belfast’s The Answer, are amongst the artists signed to independent labels who will benefit from funding being made available through the Music Export Growth Scheme.
Chris Tams, BPI Director of Independent Member Services has said, “Landmark albums and popular records from the canon of British music continue to form a strong core of UK music sales around the world. And in recent years we have started to witness more artists from the independent community top the charts and perform sell-out shows on the international circuit. The Music Export Growth Scheme has a role to play in this success and we are already seeing an encouraging return on the investment made by the government, as bands embark on tours with iconic bands like The Rolling Stones and the Manic Street Preachers.”
The announcement comes as new figures released by the BPI show that independent companies continue to enjoy great success in the recorded music market. In the first half of this year, independent artists accounted for more than a quarter, around 27.4%, of all album sales, up 2% year-on-year on the 2013 figure. This follows on from a strong year for independent repertoire in 2013 where the share of album sales from indie labels tallied 25.1%, the sector’s highest level in many years, thanks to the popularity of acts such as Arctic Monkeys, Passenger and London Grammar.
UKTI Chief Executive Dominic Jermey has said, “The British music scene is brimming with talent and around the world UK acts are helping to sell out festivals this summer, from London Grammar at South by South West in the United States to Portishead at Melt! in Germany to Tom Jones back home at the British Summer Time festival. Through the Music Export Growth Scheme we are helping a new generation of upcoming British talent to capitalise on this success and make their mark in countries around the world, bringing jobs and growth to the UK economy.”
The financial assistance forms part of efforts to get another 100,000 small and medium-sized businesses exporting. The creative industries have been identified by many key figures as one of the fastest-growing sectors of the UK economy with the music industry contributing £3.5 million to the Exchequer per year.
Earlier rounds of funding from February and May 2014 have seen more than £500,000 distributed to support the careers of Metronomy, Young Fathers, Slow Club, Public Service Broadcasting and Holy Mountain. As a result of the grant, bands have been able to secure touring slots with The Rolling Stones and Manic Street Preachers while others have gone on to agree publishing, sync, and distribution deals around the world.
John Kennedy, Chair of the Music Export Growth Scheme, has said, “As we announce the results of our recent round of funding and move to our new invitation for applications we are beginning to see the results of this commitment by the government to our industry. We are seeing the money being successfully used as seed money to launch or build on international careers, whether by way of sales or synchronisation licences, live appearances, expanded profile or strategic promotional activities indeed the variety of uses that successful applicants are making of the funds is itself a testament to the innovation that these grants can drive, enhance and encourage.”
The initiative will make up to £2.5 million of grants available over a 2 and a half-year period. It was first discussed in October 2013 at a Number 10 meeting with music executives chaired by the Prime Minister David Cameron.
What new ideas might be implemented to help British artists overseas?