Due to lockdowns and freezes on live performances caused by the Corona Virus pandemic the UK’s arts industry has been hit incredibly hard and to remedy the stifling situation, Britain’s music sector will receive a much-needed financial infusion as part of a £1.57 billion ($1.96 billion) rescue package for the arts.
Targeting those in the entertainment business, thousands of organizations in live music, performing arts and theaters, museums, galleries and independent cinema, will be able to access emergency grants and loans. Great Britain’s government, which described the funding as the “biggest ever one-off investment in U.K. culture,” says the emergency package will specifically help heritage organizations essential to culture stay afloat while their doors remain closed. The total will be £270 million in repayable loans and £880 million in grants, the government says.
“I understand the grave challenges the arts face and we must protect and preserve all we can for future generations,” Oliver Dowden, the U.K. culture secretary, said in a statement announcing the funds. “I said we would not let the arts down, and this massive investment shows our level of commitment.” Furthermore, independent contractors will not be left out, as the funding will also target freelancers in the music industry.