The plan, unveiled this week, represents a significant increase in state funding for music, rising from £4.1 million annually to £1,000 million—up to £10 million per year for the next three years, reaching a total of £30 million. This investment, dubbed the “Music Growth Package,” is designed to facilitate new touring, performance, mentoring, and export opportunities for emerging artists, as well as improve support for the local live music scene.
In addition to the financial injection, the plan includes the creation of an industry-managed tax on stadium and arena tickets to fund independent music venues. It also includes measures to promote greater compensation for music creators through an industry-wide agreement on streaming and the renegotiation of old contracts. Furthermore, the Creative Content Exchange will be created, a digital marketplace for licensing and monetizing creative assets that hopes to open up new revenue streams for artists.
Culture Secretary Lisa Nandy underscored the importance of the UK music industry, asserting that it is a “world-class industry” and ensuring that it “will continue to thrive for generations, driving jobs and attracting fans from around the world.” With this package, the Government is taking a decisive step toward both strengthening the country’s music infrastructure and supporting the next generation of British talent.