Music funding comes under scrutiny
News: 15th July 2011 by Louise Dodgson under Finance, Law & Music Business
A £2 billion fund earmarked for helping bands and promoters develop has fallen extremely short of the mark, awarding only 2 loans to music related ventures in the past 2 years. UK Music have got on the case and their investigations have unearthed that £1.4 billion of the fund seems to have been allocated to other projects, none of which were music based. In tight times for the creative sector, funding of this kind for music is in high demand and can have a critical effect so why is it proving so difficult for bands, artists and other music businesses to get their hands on this funding?
UK Music head Feargal Sharkey has spoken out about the lack of funding and resources for musicians in an article published in the Mirror, and his worries about the future of the UK's creative sector if these needs cannot be met.
music funding, feargal sharkey, uk music, efg fund, unsigned bands, unsigned musicians