MUSICTANK’s 6TH REPORT: “EASY MONEY? THE DEFINITIVE UK GUIDE TO FUNDING MUSIC PROJECTS” AUTHORED BY FORMER UK MUSIC OPERATIONS DIRECTOR, AIM GENERAL MANAGER, REMI HARRIS
26th September, London: MusicTank today published its 6th industry report. Written by Remi Harris (formerly UK Music AIM) Easy Money? lists over 100 different funders of music across the six main sources of money – grants, crowdfunding, friends & family, loans, investment and sponsorship.The guide is littered with tips and tricks from a range of providers and includes case studies from several artists and entrepreneurs – including End of the Road festival’s Sofia Hagberg, Red Grape Management and Carl Barât.Despite the received wisdom being that music companies should be looking for investors rather than debt finance, Easy Money? reveals that only about 1% of all pitches to investment houses receive funding. Grant funding rates are considerably higher, yet even there, a large proportion of applications fail to meet the eligibility criteria. Several other myths are busted, including the notion that crowdfunding has peaked.The guide’s plain-speaking tone demystifies how funding works for musicians, entrepreneurs and micro-businesses, helping them discover sources of money they were previously unaware or unsure of.Commenting on Easy Money?’s publication, Brian Message, ATC Management & Chairman, MMF said: “Investment in British creative talent is at a critical juncture. As our nation struggles to move investment focus away from industrial concerns to internet-driven, knowledge-based youth enterprise, this publication is significant in both its timing and content. British music is a leading light in the creative field, a rare export jewel. Investment in music talent will define whether this sector will grow or decline; it's as simple as that. 'Easy Money?’ will prove a useful tool in helping us push towards the hoped-for outcome.”Horace Trubridge, Assistant General Secretary, British Musicians’ Union added: “We live in interesting times, the long term assignment of rights in return for investment is no longer the only option available for musicians and songwriters. The MU has long advocated the DIY approach for progressing a career as a musician and this much-needed guide to raising the necessary funds is a timely and invaluable tool in achieving independence and success.”Said author Remi Harris: “This book will save time for anyone starting out looking for funding. I’ve spoken to dozens of funders and fundraisers – and to artists and small businesses who have been through the experience of securing money – to collate their advice and tips. This will make the whole process quicker and easier for anyone looking for funding for music in the UK”Added MusicTank Chairman Keith Harris: “Money is scarce, but not impossible to obtain. This guide will lead businesses that need to access finance to where it's buried. There may still be some spade work to do, but it will increase the chances of that work being worthwhile.”Easy Money? The Definitive UK Guide To Funding Music Projects is available from www.musictank.co.uk/resources/reports/funding-guide-2013 at £34.99Separately, MusicTank’s follow-up funding convention, taking place Tuesday 22nd October, has confirmed the first presentations and workshops, from PRS for Music Foundation with their Momentum Music Fund and BPI for UKTI’s Music Export Growth Scheme.Aimed at musicians, entrepreneurs, micro-businesses & SMEs, Easy Money? The Convention will see London’s Somerset House host a hotbed of workshops, presentations, and Q & A sessions provide delegates with the tools and contacts necessary to get their projects off the ground.A combined Finance Convention early bird ticket (£99 and Easy Money? finance guide can be bought together for just £125, before 3rd October.http://www.musictank.co.uk/resources/reports/fundingguide_preorderIndividual membership of MusicTank costs just £45. Benefits include event discounts and access to premium content, covering all MusicTank reports and transcripts, including this guide.http://www.musictank.co.uk/membershipOther industry quotes:“This publication is timely. As the business of making a living from music gets harder this is an essential guide to ways of getting help, and learning the language needed to get that help. There’s probably no such thing as easy money from any funder, but as a funder who cares about true talent finding its way, anything that makes it more likely that talent and funding find each other is very welcome. Remi Harris provides a clear and much needed guide to navigating the tricky geography of the funding landscape.” - Alan Davey, Chief Executive, Arts Council“Funding is a challenge in the current climate, especially for independent labels and artists. With the internet and affordable technology opening the door to success, raising capital remains the final hurdle. Remi’s experience at both UK Music and the Association of Independent Music has given her insight into the difficulties faced by independents in the world of finance. This book is a useful guide to understanding the jargon and will help you assess the various options.” - Marianne Frederick, Label Manager, Buzzin' Fly & Strange Feeling Records and Phantasy Sound"Artists and small music companies have more control than ever, but navigating the world of funding and finance is a daunting task. The attention to detail, pertinent case studies and practical advice in Remi’s comprehensive guide make this essential reading for the DIY sector." - Joe Frankland, Artist Development Manager, GeneratorAbout The Author:Remi Harris has 15 years’ experience in the music industry and has successfully raised over £1million in funding for music and education projects.She is currently running her own consultancy - Start Projects - and also has extensive experience in events management, recently working for various clients on the London 2012 Olympic Opening Ceremony, the innovative Urban Classic project at the BBC Proms and the You Are In Control creative conference in Iceland.As chair of the Alliance for Diversity in Music and Media, she was responsible, in 2012, for creating and launching the first ever Equality and Diversity Charter in the UK music industry. She is also a co-founder of the Young Guns Network, a professional network for young people working in the music industry, and serves on the board of arts and music organisation Small Green Shoots.Remi was previously General Manager at The Association of Independent Music and Director of Operations at UK Music. She was awarded her MBA from the University of Westminster in 2007.www.startprojects.co.ukAbout MusicTank:Established in 2003 MusicTank is a unique, neutral information hub for UK music business...addressing change and innovation through informed debate, objective analysis and industry engagement. Owned and operated by University of Westminster, its content-rich website - www.musictank.co.uk - contains a wealth of industry information and resources, together with event transcripts and podcasts, news, reports and research papers. 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