PRS Foundation and PledgeMusic have joined forces to create a new talent development fund for emerging artists.
The Emerging Artists Fund is geared towards artists looking for funding to help towards recording, releasing and touring.
Acts must have two previous releases behind them, have at least one national radio broadcast and a strategy of what they need to do next to move their careers forward.
The fund offers support from PledgeMusic to set up a direct-to-fan campaign, as well as a grant of up to £2,500 from PRS Foundation.
Vanessa Reed, chief executive at PRS Foundation – the UK’s leading charitable funder of new music and talent development – said: ‘At PRS Foundation we are always looking to create impactful and innovative ways to reach and support the UK’s most talented music creators.
‘We are excited to be working on this fund with PledgeMusic because it presents new opportunities to artists interested in diversifying their income and testing new ways of working.
‘I look forward to seeing who applies and measuring the impact this combination of grant and direct-to-fan fundraising has on the next steps in their career.’
Paul Barton, managing director at PledgeMusic UK, an ecommerce platform which enables artists to fund and pre-sell recordings and other projects, added: ‘PledgeMusic is delighted to be continuing its long association with the PRS Foundation in this new Emerging Artists Fund initiative.
‘New and emerging artists are very much the life-blood of the industry and have always been central to the PledgeMusic model. The PledgeMusic team very much look forward to working with the PRS Foundation on this project.’
The first round of the Emerging Artists Fund is open now, with a second round in August.
A total of 10 acts will be selected per deadline. Submissions for the current round must be made by 21 May.
To apply, visit the PledgeMusic website.