France pledges 50 million euros for music and launches “festival fund”


The French government has pledged an additional 50 million euros to support the country’s music industry, as well as the creation of a “festival fund” to help events forced to cancel due to the epidemic of coronavirus.

In a televised speech, which followed a meeting with representatives of the industry on Wednesday March 6, the French Minister of Culture, Franck Riester, announced that the National Music Center (CNM) would see its budget increased € 50 million – “a contribution to the aid it already has provided” to the sector, as well as to enable it to “build support plans” for the industry in the future, he said. said.

Riester (Photo) also announced the creation of a fund dedicated to festivals, which will be established in collaboration with local authorities and the Regions, according to MGB Mag. Large live events are banned in France until at least September, although authorities have indicated that some “small festivals” may take place.

The French economy lost 1.8 billion euros due to the cancellation or postponement of summer festivals

Speaking to Riester, President Emmanuel Macron said he would help protect independent businesses such as small festivals, announcing that, in partnership with the Public Investment Bank (BPI), the state would step in to help, “So that they are not weakened and risk being bought by large companies”.

Macron added that his government would continue to support the “fabric of festivals” at the heart of French society.

The latest intervention by the French authorities comes as a study reveals that the economy has lost 1.8 billion euros due to the cancellation or postponement of almost all summer festivals.

Much of France has started to ease its eight-week lockout today (May 11), with stores reopening outside of Paris and people no longer having to carry permits to leave their homes.

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