Kickstarting the reopening with 11 million NOK
Music Norway has been awarded 11 million NOK by the Ministry of Culture, which will go back to the industry.
Written by Kristiane Lunde 22.03.2022
Throughout the pandemic, Music Norway has submitted proposals for specific measures to compensate for the loss of international income, both to help music exporters through the crisis, but also to stimulate the rebuilding activity internationally.
- We are therefore very happy that this has been listened to, and that we now receive a one-time grant of 11 million kroner. We will get this out efficiently and quickly in the form of subsidy schemes that responds to the needs that the industry itself has reported on, and that responds to the situation they are in now, says Music Norways director Kathrine Synnes Finnskog.
This means that the Kickstart scheme at Music Norway will continue and will be strengthened for 2022. The funds from the government will contribute to the Norwegian music industry being able to both plan and carry out international launches, tours and projects. Music Norway is in the process of preparing guidelines and criteria, and is working on adding an application form via our application portal by the first of April. The application deadline will be monthly, but the professional committee will work ad hoc-based, with the goal of establishing efficient routines and quick payments.
- We hope to reach everyone who has lost income and who therefore lacks funds to reinvest in new measures that contribute to new income. We have to get people back to work and we have to increase the turnover. The goal must be to contribute to these funds becoming sustainable investments, says Synnes Finnskog.
The director emphasizes that this is not a compensation scheme.
- I want us to try to both remedy this right now, but at the same time also think a little further ahead and see how the industry can start projects internationally that contribute to revenue in the future.
The state crisis schemes in the field of culture, especially the compensation and stimulation schemes, have been of great help to many companies. But the state crisis measures have overall meant less for the export-oriented part of the music industry. This applies to both the compensation and stimulation schemes and the general business-oriented measures.
Loss of income has contributed to significantly less equity, and one of our biggest concerns is that one must sell away rights to secure capital to work internationally. Internationalization is expensive, and in combination with both higher costs and smaller reserves than normal, it represents a challenge.
- The need for operating assets is great. Many have kept people in work, but new cancellations and postponements have still not provided income that keeps the day-to-day operations going. Grant schemes may not help to solve the operational challenges, but we will look at other, alternative ways to help the players solve an acute capital shortage, says Synnes Finnskog.