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PRS Foundation unveils report on the impact of its Momentum Music Fund

By | Published on Monday 15 May 2023

PRS Foundation

Music charity the PRS Foundation last week unveiled a new report at the Great Escape Conference in Brighton all about its Momentum Music Fund, which was formally launched at the showcase festival ten years ago.

Originally with primary funding from Arts Council England, and now supported by collecting society PPL – as well as Creative Wales, Arts Council Of Northern Ireland, Invest Northern Ireland and Spotify – the Momentum scheme “provides career-boosting grants of between £5000-£15,000 to acts at a pivotal time in their creative and business development”.

Over its first decade in existence, the fund has awarded £5.2 million to 526 artists across the UK, helping support the production of 275 albums – including Mercury Prize shortlisted records – and over 300 tours and 1600 shows.

The stats published last week also demonstrate how the fund seeks to help facilitate more diversity in the music industry.

The Foundation said that 49.5% of Momentum grants have been awarded to artists of black, Asian or other ethnically diverse heritage; 51% of grants have gone to artists based outside London; and 47.9% of grantees identify as women, gender expansive artists or are in mixed gender groups.

Commenting on the new report, PRS Foundation CEO Joe Frankland said: “The PPL Momentum Music Fund reaching ten years is a fantastic milestone and it’s clear to see the impact it continues to have on the UK music industry. It’s been a vital stepping-stone for so many incredible artists who have gone on to top the charts, sell out shows around the world and scoop multiple music awards”.

“I’m proud that this work has changed the funding game”, he went on, “helping artists and songwriters to create and perform outstanding new music while developing sustainable careers which has a knock-on impact for their teams and for the wider music industry”.

He then concluded: “I’d like to thank PPL, Creative Wales, Arts Council Of Northern Ireland, Invest Northern Ireland, Spotify, PRS For Music as well as Arts Council England and all the partners through the years whose support has enabled this ground-breaking fund to be as impactful as possible”.