Struggling music industry to receive €2.5 million in EU funds
Wednesday, 15 July 2020
A call for project proposals by the European Commission is asking applicants for ideas that will bring new life to the European music sector, with project grants worth €2.5 million in total.
The initiative is part of the project ‘Music Moves Europe’, and comes as a response to bankruptcies and dwindling revenues in the music industry following the lockdown.
The Commission’s goal is “to ensure Europe’s music sector flourishes in all its diversity and remains competitive in the global context”, and to create a sustainable music ecosystem that will be more prepared for challenges in the future.
“The coronavirus crisis has had an unprecedented impact on the music sector’s entire value chain, especially the live segments,” the Commissioner for Innovation, Research, Culture, Education and Youth, Mariya Gabriel, stated.
“We need to help the music sector adjust to the post-crisis reality, to recover in a more sustainable way and ultimately become more resilient. I want Europe’s music sector to flourish in all its diversity and to remain competitive in the global context.”
The Commission will have an action plan ready by November 2020, after which the grants will be distributed at the start of 2021.