Indie labels win government grants

Posted by | April 02, 2016 | Industry News | No Comments

You have probably heard about entrepreneurs, students and start-up businesses receiving grants from the government or some other institution. But did you know that the government is now giving out money to help promote the work of independent artists? In the United Kingdom, more than twelve songwriters and music labels have been given £200,000 by the British government to fund the promotion of their work in other countries.
About two years ago, a department of the British government called the UK Trade and Investment created a music export scheme worth £2.5 million. Their purpose was to help independent music companies and artists within the United Kingdom help make a name for themselves in other countries throughout Europe, Asia and the Americas. There were a total of thirteen music companies chosen for this funding, including the management company responsible for “Catfish and the Bottlemen.” Other songwriters who have received grants include Georgie Dennis, Christopher Wortley, and Greig Watts. Out of all the past recipients who have received grant money, they have 10 international music awards and 13 record deals all together as a result of this funding.
Critics speculate the real reason behind this funding program for new artists. Some believe it is because the United States has taken the lead as the entertainment capital of the world and the United Kingdom wants to compete by bringing more of their artists into the music scene. However, the minister of UK Trade and Investment says the United Kingdom had £17 billion in exports from the creative sector during 2013. This Music Export Growth Scheme not only helps aspiring British musical talent make a name for themselves, but it also boosts the number of sales for music in the United Kingdom as well. In turn, this creates more jobs and boosts the British economy in the long run.
In the 21st century, there aren’t too many musical artists making names for themselves in various countries throughout the world. It seems that the only artists you hear about these days come from the United States. However, this might not be a good thing for countries in the rest of the world that have an economy worse than the U.S. Perhaps the United Kingdom has the right idea by investing money into their creative sector. After all, consumers love to spend money on creative products like music and movies. It is a billion pound industry that is continuing to grow every day. If other countries would invest in their own creative industries then perhaps their economies countries would invest in their own creative industries then perhaps their economies would grow too.  

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