New report shows PRS Foundation's International Showcase Fund generates millions for the UK economy and directly impacts the development of music creators across the country

23 October 2024 - Press release

• Report shows the fund helped generate £6.7 million for the UK economy
  
  
• For every £1 invested, supported music creators generated £5.40
  
  
• And the fund has diversified to tackle barriers for underrepresented music creators, with 67% of grantees based outside London; 57% identifying as women, gender-diverse or in mixed gender groups; and 33% identifying as belonging to the Global Majority
  
  
• 93% agreed the support helped them reach new audiences and 92% said it increased their international profile
  
  
• The report warns more investment in the fund is needed due to new and increasing barriers such as Brexit, the cost-of-touring crisis, growing Visa costs and increased competition

PRS Foundation has launched its latest independent report on the impact of its International Showcase Fund (ISF). The report is available to read digitally here.

From 2019-2024, the fund - which supports UK-based music creators' first steps into overseas territories - has helped to generate £6.7 million for the UK economy and has hugely impacted the careers of hundreds of music creators across the country.

This latest evaluation report, conducted by Tom Flemming Creative Consultancy and launched at this year's WOMEX in Manchester, shows that for every £1 of International Showcase Fund investment, supported music creators generated an additional £5.40 in revenues.

ISF's impact goes beyond the economic results alone, with 93% of grantees agreeing the support helped them reach new audiences and 92% saying it increased their international profile, with international showcasing and songwriting opportunities being vital steps to building careers beyond the UK.

At home, and importantly for the UK music industry more broadly, 92% said the fund was helping those from different economic backgrounds, 92% felt it was making a difference for women creators and 90% also said it was making a difference for music creators from different nations and regions of the UK.

ISF has strategically focussed efforts on ensuring an inclusive approach to the distribution of support to the talented music creators that apply. The report shows that these efforts are paying off, with ISF support helping to tackle barriers for those from underrepresented backgrounds. Over two-thirds of grantees were based outside London; 57% identified as women, gender-diverse or were in mixed gender groups; and a third of grantees identified as belonging to the Global Majority. This diversification not only enriches the global music scene but also promotes an inclusive image of the UK and better represents the music from across the whole country.

While the fund has generated positive economic, cultural and creative outcomes for music creators, the music industry and the wider economy, the report also highlights the need for further investment following one of the most challenging eras for emerging talent. With new and increasing barriers such as Brexit, the cost-of-living crisis and increasing costs and bureaucracy, the report recommends more investment could enable larger grants to music creators, boost the export-readiness of UK talent, and facilitate knowledge exchange to mitigate these and get even more out of showcasing.

In recent decades, music from the UK has been a powerhouse abroad, however the report also warns that there is increasing competition where other countries are investing in music export development to close the gap with the UK. More investment in the International Showcase Fund will not only ensure those vital first steps to develop careers internationally continue to generate impact but will also ensure the robustness of the talent development pipeline so that opportunities for UK-based talent increase regardless of background, and the UK sector protects and nurtures its place on the global stage economically and culturally.

Joe Frankland, CEO, PRS Foundation said, "Since its launch in 2006, the International Showcase Fund (ISF) has enabled thousands of artists and songwriters to export their music and to reach audiences globally. We are in tune with the needs of the creative community, so the evolution of the fund has helped to ensure creators from all backgrounds access international opportunities and make their first steps count.   

This new report highlights the growing importance of ISF and the impact the initiative is having. Thanks to the investment of time, knowledge and funds from ISF partners, we are bolstering the careers of exceptional creators working in any genre, anywhere in the country. The collaboration between UK Government, Arts Councils, music industry membership and trade bodies and showcasing experts plays a huge part in the UK punching above its weight internationally. 

But in a fast-changing ecosystem, and within the context of increased costs, bureaucratic restrictions, and increased competition, it is clear that ISF support is more crucial than ever.

As we celebrate the economic and cultural impact of the fund for the wider sector and for international touring artists of the future, we look forward to transforming the global careers of many more creators for years to come." 

Becci Scotcher, Senior Grants and Programmes Manager, PRS Foundation said, "Showcase events provide vital opportunities for UK-based music creators to build their careers overseas, and ISF has solidified its place in the UK's talent development pipeline – linking domestic support for talented music creators with a programme that provides timely grant support to fast-track global careers.  

Recent reports that the commercial industry is struggling to break new artists on a world-stage will not be a surprise to those of us witnessing other countries increasing investment in domestic talent development and music export programmes while, in stark contrast, UK creators and businesses can no longer access Creative Europe funding, and much more needs to be done to maintain the collaborative and innovative approach our creative community is famed for. 

Since the Brexit vote, PRS Foundation has been strategically solidifying partnerships on behalf of the UK sector through programmes including the European Music Exporters Exchange, Keychange and the European Talent Exchange programme.

Alongside managing ISF, we recently launched UK Sounds as an umbrella brand to promote and connect the UK's presence at key events. And we join calls to rejoin the Creative Europe programme and to invest in its transformative initiatives while asking for ongoing and increased financial support for ISF." 

The International Showcase Fund is run by PRS Foundation in partnership with Department for Business and Trade, Arts Council England, British Underground, Musicians' Union, Creative Scotland, PPL, Wales Arts International, Arts Council of Northern Ireland and British Council. It offers vital and timely support for artists to take their first steps into international territories by enabling them to perform at key showcasing festivals and conferences such as SXSW (USA), Reeperbahn Festival (Germany), New Skool Rules (Netherlands), Zandari Festa (South Korea), NYC Winter Jazz Fest (USA), Nyege Nyege (Uganda), Womex, Eurosonic (Netherlands), LUCfest (Taiwan), Jazzahead (Germany), Seoul Music Week (South Korea) and Mutek Montreal (Canda) and Africa Rising (South Africa) whichattract thousands of people working in the music industry from every corner of the globe.

Since its creation in 2006 (first as British Music Abroad and then rebranded as International Showcase Fund in 2014) the fund has helped artists such as Dave, Kae Tempest, Anna Meredith, Little Simz, Yard Act, Jessica Winter, Black Country New Road, AJ Tracy, Ezra Collective, Sam Fender, Glass Animals and Big Joanie.