Congratulations to Isle of Wight band, Coach Party, who have has secured funding from Round 23 of the Music Export Growth Scheme (MEGS).
The scheme, which supports independent UK artists in expanding their international presence, has provided funding to 58 acts in this latest round.
Boosting British music exports
The BPI, the trade association representing the UK’s record companies and labels, announced the latest recipients of MEGS funding last week. The scheme aims to boost British music exports by helping small-to-medium-sized independent companies promote their artists in key overseas markets.
It is a collaboration between industry and government, with 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.
On average, the industry contributes 64 per cent of the total investment.
Chuffed to bits
Coach Party shared their excitement on social media about receiving the funding, stating,
“We are sooooo lucky to have chosen to receive funding from the wonderful @bpi_music 💗 it’s has and will change the game for us this year, big big love.”
This support will help the band develop their presence internationally and reach wider audiences.
Challenges facing UK artists
Despite the growth of UK music exports and the continued success of British artists globally, the industry faces increasing competition from other markets.
Rising international touring costs make it difficult for independent artists and small UK music businesses to fully fund the marketing and promotional efforts needed to reach a global audience.
The Music Export Growth Scheme helps bridge this gap, providing vital support to emerging talent aiming to break through internationally.
