THE PRS Foundation says its International Showcase Fund (ISF) has generated £5.3 million for the music industry and economy since 2016, according to an independent report by Nordicity.
The fund provides support for fledgling acts performing at key showcase events such as Eurosonic Noorderslag in the Netherlands, SXSW in Texas, Germany’s Reeperbahn Festival and Canadian Music Week.
The report found that more than £850,000 had been granted to 364 “export ready” artistes to showcase overseas between April 2016 and March 2019.
It says 91 per cent of supported artistes surveyed had positive outcomes such as recording, publishing, management and agency deals, and being booked for live performances.
The research also found that, on average, artistes who had benefitted from ISF support had seen their live audiences nearly triple and Facebook reach increase by 66 per cent, and 73 per cent on Twitter.
Forty per cent of supported artistes were from a black, Asian and minority ethnic background (BAME), with 43 per cent were women, trans or non-binary.
“A staggering 98 per cent of grantees said they would not have been able to showcase internationally without support from our expanded list of partners,” says PRS Foundation CEO Joe Frankland.
Organisations involved in the initiative include the Department for International Trade, Arts Council England, PPL, the Musicians’ Union and Creative Scotland.