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Best of ?UK?music talent awarded funding as?68?independent acts receive total £1.4?million?
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Money will raise?the?profile of UK music worldwide, helping increase?global fanbase and?deliver economic growth for country??
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Grants provide lifeline of support for?UK?music industry grappling with?the age of streaming’s?challenges and opportunities
Rising?UK?music stars?have been awarded?funding to?unveil the best of this country’s talent to the world?with £1.4?million?to?attract?new fans,?drive?revenue, and boost the?music industry.?
Streaming has made music more globally accessible than ever before, bringing increased opportunity and competition?in equal measure?for UK artists.
The BPI estimates that UK acts account for around 8-9% of global streams, however this is below the average of around 10% in recent years.
The Music Export Growth Scheme?(MEGS)?is a lifeline for?independent?UK acts and companies,?providing critical support with grants of £5,000 - £50,000?to break artists into the international music scene?who, after?achieving?domestic success, have sights set on a global following.?
Its?track record?speaks volumes for the impact it?continues to have?on the UK music industry.?MEGS?has supported the international careers of over 522 British artists, and according to the BPI, over the previous 23 rounds has already?delivered an estimated £73.5 million financial return for the UK economy.
Successful applicants this year include the likes of?Nina Nesbitt,?Black Country,?New Road, Dry Cleaning,?The?Snuts,?Wes Nelson and The?Wellermen.?
Business Secretary Peter Kyle said:?
Streaming has revolutionised access to music for fans worldwide, but it has also created unique challenges for smaller artists and independent labels.
This scheme moves the dial for indie music by funding global tours and promotion, removing the financial hurdles which would otherwise prevent our best home-grown talent from blossoming into international success stories.
Securing MEGS funding is a launchpad that will help artists and labels reach the ears of new fans and follow in the footsteps of past recipients like Ezra Collective and Dave who turned this opportunity into standout global success.
According to the IFPI, the UK is the third biggest music market in the world – the biggest in Europe – and according to the BPI, the second biggest exporter of recorded music after the U.S. ?A diversity of acts from across the UK is fundamental to?the?industry’s continued success.??
That’s?why the government is committed to ensuring?MEGS?reaches?artists?and companies wherever they are based.??Around two thirds of the MEGS?recipients were originally from outside London, helping develop record labels and?accelerate?success?across the?country.?
According to the BPI for every pound from government,?MEGS?generates an economic?return of £14?and a tangible cultural payoff,?with successful acts going?on to achieve numerous BRIT Award nominations and wins,?19 shortlists for the Mercury Prize and 4 Album of the Year wins, as well as hundreds of millions in global streams.?
Sophie Jones, BPI Chief Strategy Officer, said:??
In an increasingly competitive global landscape, the Music Export Growth Scheme is a vital springboard for?UK?artists looking to reach international audiences and build their profiles, and a critical resource for the UK’s SME music businesses and independent sector.?It’s?also a proven financial success, generating a significant return on investment, and?a great example?of what can be achieved when industry and Government come together in support of Britain’s world-class music ecosystem.??
MEGS alumni have gone on to become BRIT Award and Mercury Prize-winners,?chart-toppers?and household names.?We’re?excited to see what the future holds for the 68 fantastic artists supported by this latest round, and grateful to the UK Government for their continued support of the Scheme.
Black Country, New Road said:?
Receiving MEGS has and will help us tour to a high standard during?difficult times?when the cost of things?keep?rising and rising. We would like to say thanks.?
The?Wellermen?said:?
We?can’t?thank the MEGS funding panel enough for their invaluable support. Touring is financially difficult at the best of times, but right now it is harder than ever. Their crucial support means we can hit the road again this March to promote our new 1778 EP in the USA. This will be our 4th tour in the USA, each one meaning we cement and further grow our dedicated fanbase over there.
Wes Nelson said:?
Really excited and grateful to have been awarded a grant by the MEGS team. This grant means I can do my first shows in Europe with my band, something?I’ve?wanted to do for a long time.?Can’t?wait to hit the road and spread my music, massive?massive?thank you to everyone at the MEGS team.
Nina Nesbitt said:?
As an independent artist releasing through my own label, I’m incredibly grateful to receive support from the MEGS board and BPI. I want to thank the board for recognising my vision and the strength of independent artists building internationally from the ground up.?
This funding?represents?an important step?in expanding my music overseas and investing strategically in my next campaign. It will enable me to grow internationally, reach new audiences, and continue building a global career on my own terms.
Notes to Editors
Figures on UK music market – IFPI
Figures on streaming - BPI
Figures on economic return for every £1 spent - BPI
Figures on estimated financial return for the UK economy - BPI