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PRESS RELEASE: PRS FOR MUSIC FOUNDATION AND ARTS COUNCIL ENGLAND LAUNCH MOMENTUM MUSIC FUND: A £500,000 INVESTMENT TO DEVELOP THE CAREERS OF TALENTED ARTISTS AND BANDS

• Applications open today for the new Arts Council England-supported fund described as “a breakthrough moment for music in England”

• Managed by PRS for Music Foundation, Momentum’s two-year programme will award grants of £5,000-£15,000 to between 50-75 bands and artists

• BBC Radio to promote funding deadlines and successful applicants

Today at The Great Escape, PRS for Music Foundation and Arts Council England will launch Momentum Music Fund – a £500,000 investment with support from the National Lottery through Arts Council England to help develop the careers of talented artists and bands.

Inspired by examples of other nations’ support of popular music, as well as a recognised gap in seed funding for emerging acts, Momentum represents an important development in Arts Council England’s support for this area of music.

Managed by PRS for Music Foundation, the UK’s leading funder of new music, the programme will award individual grants of £5,000-£15,000 to between 50-75 artists and bands over the next two years.

Those creating and performing contemporary popular music – including all types of new and emerging genres – will be eligible to apply, provided they are at the right stage of their career and can provide a clear business case for support.

Additionally, record labels, music managers, music publishers and other industry professionals can apply on their artist’s behalf, but must detail how funding will drive their career development.

Momentum has already received widespread support and presents a pivotal moment for the music industry, enabling a step change in the creative output and career progressions of a range of artists and bands. BBC Radio will be championing Momentum across their national and digital stations, promoting funding deadlines and signposting successful recipients.

The first wave of funded artists will be announced in early August 2013, with later awards scheduled for August, October and January 2014.

Further details and Momentum’s online application process can be found at www.prsformusicfoundation.com.

Commenting on the launch, Vanessa Reed, Executive Director of PRS for Music Foundation said:

“Momentum is a breakthrough moment for music in England, where it’s now harder than in many other parts of the world for talented artists to access finance. It’s entirely fitting that today’s announcement is being made at The Great Escape where we’re surrounded by exactly the kind of artists and bands that this fund is designed for. I hope that many of them will enter the application process and use this opportunity to drive their career to the next level.”

Alan Davey, Chief Executive, Arts Council England added:

“It’s great to be launching Momentum at The Great Escape in partnership with PRS for Music Foundation. We look forward to supporting them to deliver this small grants scheme which is responsive to the needs of artists in this fast paced and ever changing industry. It is vital that talented musicians and bands have opportunities to access the kind of support that ensures their talent can find its way and flourish. As well as supporting some great artists over the next two years I hope that our experience of this fund will provide us with a clearer understanding of how we can best support artists in this area to fulfil their potential and reach the audiences they deserve.”

The fund has also won widespread support across the commercial music sector:

Brian Message, Chairman of the Music Managers Forum: “Momentum’s investment in commercially compelling artist businesses is a welcome move and fulfils a clear need. This initiative will help drive both cultural and economic growth and is the future of arts funding.”

Alison Wenham, Chairman and Chief Executive, Association of Independent Music: “The Momentum Fund offers a valuable opportunity for artists and bands to secure seed funding and develop to the next level, and is to be welcomed by the music industry. There is a critical shortage of appropriate funding and this scheme will help to meet the need of bands looking to take control of their career development.”

The impact of funding on the artists and bands who benefit will be evaluated by Tom Fleming Consultancy. See www.tfconsultancy.co.uk.

For more information, contact:

Sarah Thirtle for press enquiries: sarah@prsformusicfoundation.com
Laura Whitticase for application enquiries: laura@prsformusicfoundation.com