Funding for music labels enters next round in Hamburg
The Ministry of Culture and Media has launched the next round of funding for small music companies in Hamburg and is accepting online applications until the deadline of August 18, 2020. The funds help maintain the diversity and quality of music in Hamburg and have benefited more than 300 releases in various genres hitherto.
Small music labels flailing
The corona crisis has exacerbated business for small music companies that had faced threats to their existence before the pandemic. The funding should help strengthen their business structures and framework conditions as the companies play a key role in culture and the quality of music in Hamburg with their artistic productions and innovative business models.
Promoting independent labels
The funds have been earmarked for so-called micro-enterprises with headquarters or branches in Hamburg. The recipients receive grants between EUR 3,000 and EUR 10,000 provided the company puts up at least 50 per cent of the required capital. The monies are for production and or marketing and promotion. A committee of experts including industry representatives will advise the ministry on the allocation of funds.