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By Chris Cooke | Posted on Tuesday August 9th, 2022
Applications are underway for the next cycle of the Music Export Growth Scheme, with two UK government departments – the Department for International Trade and the Department for Digital, Culture, Media and Sport – together committing 500,000 £ to support independent artists and labels. seeking to seize opportunities in new markets.
MEGS has provided this funding for many years now, with the scheme administered by the UK recording industry trade group, the BPI. However, as the BPI itself has recently pointed out, such government support for music export is now more important than ever.
Because, as UK recorded music exports grow as the global recorded music market expands, UK artists and labels face increased competition from music creators in other countries. when it comes to building a global audience.
Launching the latest round of MEGS funding, BPI boss Geoff Taylor said: “The global recorded music market is poised for sustained and rapid growth, but this growth is being combined with intensifying global competition. . MEGS continues to be a crucial resource for independent artists and labels to help them break into overseas markets.”
“We are pleased that the government is committed to continuing to work in partnership with the music industry to maximize the UK’s music export potential,” he continues. “MEGS not only supports the UK economy, but has also supported some of our most beloved independent artists to achieve global success.”
Meanwhile MP Andrew Griffith, currently Minister for Exports at the Department for International Trade, adds: “The UK has a worldwide reputation for creating, writing and producing amazing music. In 2020, the UK exported £2.3 billion worth of music around the world, creating jobs and growing our economy. Through the Music Export Growth Scheme, we are proud to help UK independent labels and artists grow British music overseas.”
The deadline for applications for this current round of MEGS funding is September 2. Learn more here.