Department of International Trade and British Phonographic Industry (BPI) have announced £2.8 million in grants available for independent music companies, music labels, distributors and management companies labels to export music overseas.
Funds will be delivered through the Exporting is GREAT campaign and operated by BPI to give eligible small-to-medium music companies grants between £5,000 and £50,000. Deadline for the next round of applications to the Music Export Growth Scheme (MEGS) is 7 November 2016. Application forms and details of submission are here.
Over £1.6 million was awarded in grants from MEGS between January 2014 and March 2016. Artists successfully supported to date include 2016 BRIT Awards winners Catfish and the Bottlemen, from Wales; 2014 Mercury Prize winners Young Fathers, from Scotland; London Grime MCs Ghetts and Afrikan Boy; alternative rock band Fearless Vampire Killers; and Mercury Prize shortlisted solo artist Eska.
The UK music industry contributed £4 billion to the UK economy in 2015, employing 117,000 people, and the UK is the second largest exporter of music in the world. The UK produced 5 of the top 10 global bestselling albums of last year.