EUR 5 million for SMEs from "Hamburg Music Business Support"

2 December 2020

Ministry for Culture and Media and IHM launch latest support programme

Applications are now being accepted for the EUR 5 million "Hamburg Music Business Support" programme to assist SMEs hit by the corona crisis. Developed by the Ministry of Culture and Media and the Hamburg Music Business Association (IHM), the grants are being provided via Hamburg’s Corona Aid Package for Culture following the launch on Tuesday (December 1, 2020). Recording studios, the self-employed, music labels, music publishers and the live music sector now have until the deadline of January 31, 2021 to submit their applications.

Funds of up to EUR 300,000 per company

Grants of up to EUR 10,000 are available for the solo self-employed and up to EUR 300,000 for companies’ cultural projects. The grants should cover up to 90 per cent of the costs e.g., rescheduling unusual music events and safeguarding ongoing projects and strengthen music businesses in economic crises.

Economic perspectives for music industry

Since the corona crisis began in March, Hamburg has co-operated with the German government and those affected on tools to reach entire swaths of the cultural and creative industries, according to Dr. Carsten Brosda, Senator for Culture and Media: "The aid now being offered is another step towards supporting the music industry as comprehensively as possible. We want to ensure that the numerous stakeholders in the music industry can continue to enrich music in Hamburg and contribute to its cultural diversity." Timo Wiesmann, Managing Director of the IHM, said the programme offers music companies an economic perspective during and after corona and puts companies in a position to succeed on the market again.

tn/sb/pb

Sources and further information

www.hamburg.de

Hamburg Music Business Association (IHM)

Founded in 2004, the association networks across Hamburg's music industry and is considered Germany's first regional music industry association. IHM's 120 members include artist agencies/management, production companies, publishers, labels, distributors, concert promoters, event agencies and music clubs.