Hundreds of grassroots venues and touring musicians are among those set to benefit from new arts funding announced by the UK Government.
The cash boost is part of Chancellor Jeremy Hunt’s Creative Industries Sector Vision, which was unveiled this week and features some £77m of new funding across the sector. It is hoped that more than £200m in investment announced since 2021 can stimulate £50bn of extra growth and one million extra jobs in the sector by 2030.
Under the plans, DCMS will expand Arts Council England’s Supporting Grassroots Music Venues Fund, providing an additional £5m over two years to support around 400 grassroots music venues projects.
Funding for the Music Exports Growth Scheme, which provides grants to support touring and helps emerging musicians break into new global markets, will be expanded to £3.2m over the next two years. Past recipients include BRIT award winners Wolf Alice, Dave and Catfish and the Bottlemen. £2m will go to London Fashion Week for 2023-25 and £1.7m for the BFI to deliver the London Film Festival 2024.
Government will also divert funds to skills and education, with £25m earmarked for musical instruments in schools.
Chancellor Hunt said: “Our Creative Industry isn’t just about the glitz and glam of the red carpet in Leicester Square. It brings in £108bn a year to help fund our public services, supports over two million jobs, and is world renowned.
“That’s why we’re backing it as an industry to drive our economic growth, keeping the UK at the top of the world’s cultural charts with a multi-million pound boost.”
The new funding announced builds on more than £230m in government spending on the creative industries since 2021, which includes £75.6m to build the largest virtual production research and development network in Europe.
Caroline Norbury, chief executive at Creative UK and Creative Industries Council member, said: “The UK Government’s Sector Vision recognises and cements the Creative Industries’ immense capacity for growth, and rightly prioritises much-needed investment in the sector. Creative UK, our members, and colleagues across the Creative Industries, stand ready to further unleash the power of creativity, so that together we can drive inclusive growth across all parts of the UK.”