Through a contribution of the Dutch Ministry of Education, Culture and Science, Buma/Stemra opens a second Music Investment Fund. Good news for musicians!
Dutch composers, lyricists and publishers of music can once again apply to the Music Investment Fund from Monday, 26 July 2021. The fund is an initiative of Buma/Stemra with cooperation from the Dutch Ministry of Education, Culture and Science and is intended for the development of new music and/or new exploitation of existing music. In the fall of 2020 it was also possible to apply, at that time 663 working contributions were granted.
Shortly after the start of the Corona Crisis, € 2,750,000 was set aside by Buma/Stemra to support music professionals with the Emergency Fund for Music, launched at the beginning of May 2020. Shortly thereafter, as part of the additional resources for the cultural sector, the Ministry of Education, Culture and Science released € 5,000,000 for the ‘Rights Sector Support Fund’, an initiative of the Copyright Interests Federation. Of this, €2,475,000 then became available for the Music Investment Fund.
For this second round € 2,337,500 is available. This amount will be distributed by Buma/Stemra in the form of grants to Dutch composers, lyricists and publishers of music. With this amount the fund can once again make an important contribution to the continuity of the creative process and the realization of new cultural productions.
Bernard Kobes, foreman of the Board of Directors of Buma/Stemra: “The first round of the Music Investment Fund was extremely well used. The fund was oversubscribed even shortly after the opening. That shows how high the need was and still is. We are therefore very grateful that the minister is contributing again. Wonderful things have emerged from the first round of the Music Investment Fund. We look forward to the next creations and initiatives.”
More information about the Music Investment Fund 2 can be found at www.investeringsfondsmuziek2.nl Applications can be submitted as of July 26, 2021.