The latest round of Music Export Growth Scheme (MEGS) funding will support British acts including Self Esteem, Dave, Afro B, Tusks and Frank Carter & the Rattlesnakes.
The BPI-run scheme is funded through the Department of International Trade as part of the government’s Exporting is GREAT campaign.
The campaign aims to fund the growth of British talent overseas through small to medium sized music companies who are looking to build on the potential of their artists internationally.
The 16th round of MEGS funding brings the total invested to £3.8m to date and this most recent round companies, representing a diverse range of British talent, have been backed in order to increase their acts’ presence in key and growing markets.
Other artists set to benefit from the scheme this year are Liverpool-based quartet Ladytron, singer-songwriter Tom Speight, Bristol collective Elder Island and BRIT nominated band Blossoms.
So far the initiative has supported 242 applicants, and the companies funded estimate their financial return to be just over £36m.
Successful applicants have reported 53 record deals, 47 publishing and sub-publishing deals and 135 synchronisation licensing deals in addition to festival appearance offers and TV, radio and press promotional opportunities.
Chris Tams, director of international, BPI, says: ‘It is amazing to see the Music Export Growth Scheme going from strength to strength and flying the flag for British music overseas. This funding is even more important today with uncertainty around Brexit. MEGS now sees a return of around £12 for every £1 invested, highlighting the importance of UK music to our exports and the wider economy.’
Frank Carter and the Rattlesnakes comment: ‘MEGS has been integral to our development internationally. We are an independent band with our own label and it can be difficult to fund the kind of loss-making touring that just has to take place to gain ground overseas. The MEGS grant helps to lower the loss and maintain our momentum as a dynamic and exciting rock band on the global stage.’
Tom Speight adds: ‘‘I want to send MEGS, the BPI and DIT a massive thank you for giving me the opportunity to tour America/Canada in October!!! This wouldn’t be possible without their support, I’m so incredibly grateful for them getting behind independent acts such as myself and giving musicians a chance to help promote their music overseas.’
Full list of MEGS recipients in the 16th round of funding is as follows:
Frank Carter & The Rattlesnakes
Moses Boyd Exodus
Pulled Apart By Horses
Applications to the 17th round of MEGS funding are now open until 2 September. For more information, please visit bpi.co.uk.