Scheme launched to help promote British music abroad
A new scheme aiming to promote British music abroad has been launched.
The Music Export Growth Scheme is offering £3 million to help independent labels market emerging British talent overseas.
Grants ranging from £5,000 to £50,000 are on offer.
The scheme is run by the British Phonographic Industry (BPI) and is funded by UK Trade & Investment, the Government organisation that supports UK business overseas.
It is mainly aimed at artists who have had some success in the UK, but who are looking to break through on an international level.
Labels applying for the scheme should have an annual turnover of 50m euros (£42.3m) or less and have no more than 249 employees.
BPI Chief Executive Geoff Taylor said: "British music is already incredibly successful overseas - one in every eight albums sold around the world last year were by our artists, but even more can be achieved if our vibrant indie sector is supported in promoting breakthrough talent outside the UK."
Earlier this year, figures from the BPI showed UK acts gained 13.3% of worldwide sales in 2012, up from 12.6% the previous year.
Big selling albums from Adele, One Direction and Ed Sheeran contributed to the total.
The BPI confirmed Adele's 21 was the biggest-selling album in the world for the second year running.
UK acts have claimed the world's top-selling album for five of the past six years.
The first wave of applications for the Music Export Growth Scheme is open until 18 November.
Applicants will then be reviewed by a panel of music industry experts with the first grants being awarded by the end of the year.
Further application rounds will take place over the next three years, with the next one planned for early 2014.
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