Applications now open for Music Export Growth Scheme funding
12 November 2024 - Press release2024 marks 10 years of the scheme, over which time it has supported over 300 artists, generating over £55.5 million in music exports for the UK – a return on investment of nearly £14 for every £1 received from Government
The BPI, the trade association for the UK’s record companies and labels, and the representative voice of British recorded music, today announces that applications are now open for the latest (23rd) round of Music Export Growth Scheme (MEGS) funding. Applications can be submitted here.
Applications will be open until 6th December 2024, with decisions communicated in January 2025.
Developed and administered by the BPI, the scheme boosts British music exports by supporting small-to-medium-sized independent UK companies as they build the commercial profile of their artists in key markets overseas. It is a successful partnership between industry and Government with joint funding coming from the Department for Business and Trade (DBT) and the Department for Culture, Media & Sport (DCMS) alongside investment from the UK recorded music industry, which on average contributes 64% of total spend.
2024 marks ten years of MEGS, and in that time, it has supported the international careers of more than 300 British artists including Dave, Rina Sawayama, Self Esteem, Jungle, Young Fathers, Kae Tempest and 2023 Mercury Prize winners, Ezra Collective. Through 22 rounds over the last ten years, the scheme has invested over £6 million in British music, leading to an estimated £55.5 million financial return to the UK economy and a return on investment of nearly £14 for every £1 received from Government. In 2023, two dozen acts supported by MEGS accumulated over 100 million global streams, including Beabadoobee, Dave, Bicep and Wolf Alice.
Expanded Government funding for the scheme was announced as part of the Creative Industries Sector Vision in June 2023. A further £3.2 million was pledged to support the scheme over the next two years, meaning that higher grants can be provided to a greater number of artists, in turn generating more revenue from music exports back to the UK creative economy.
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