The UK government and BPI have opened applications for the latest round of Music Export Growth Scheme (MEGS) funding.
The latest round marks the 25th edition of the exports initiative.
Applicants will be able to register and submit applications here from 12pm today and the application window will close on June 8.
Developed and administered by the BPI, MEGS boosts music exports by supporting small-to-medium-sized, independent UK companies as they build the commercial profile of their artists in key markets internationally.
It is a partnership between industry and the UK government with joint funding received from the Department for Business and Trade (DBT) and the Department for Culture, Media & Sport (DCMS) alongside investment from the UK recorded music industry, which on average contributes 64% of total spend.
“As international touring costs rise and global competition intensifies, MEGS is essential both to British SME music businesses looking to break new talent on the global stage, and to artists aiming to build their audiences internationally,” said a statement.
To date, the scheme has supported the international careers of more than 514 British artists including Rina Sawayama, Self Esteem, Jungle, Young Fathers and Kae Tempest, alongside multiple BRIT Award winners such as Dave, Ezra Collective and Wolf Alice.
The latest funding round forms part of a three-year funding commitment to the scheme by the UK government, which will enable two funding rounds to be run each year.
This funding is crucial in helping British music continue to flourish internationally and remain a driving force in the world
Peter Kyle
Over the scheme’s 24 previous rounds, MEGS has invested over £9.2 million in British music, leading to an estimated £81.5m financial return to the UK economy. It has been calculated that there has been a return on investment from completed rounds of nearly £14 for every £1 provided in funding by the government.
Business Secretary Peter Kyle said: “Now more than ever, it’s vital that our talented artists and music businesses have the support they need to take their creativity to new heights on the global stage. This funding is crucial in helping British music continue to flourish internationally and remain a driving force in the world and I encourage all eligible to apply and seize this opportunity.”
Sophie Jones (pictured), BPI chief strategy officer, said: “We are pleased to be opening applications for the 25th round of the vital Music Export Growth Scheme, together with our partners at DBT and DCMS, and are grateful to the UK Government for its continued support of and commitment to the scheme.
“With many MEGS alumni going on to become BRIT Award and Mercury Prize-winners, chart-toppers and household names, we’re looking forward to seeing its continued impact on British musical success for years to come.”
PHOTO: Louise Haywood-Schiefer
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