Italy Introduces €1.5 Million Fund for Live Music Industry
The new initiative was signed into law to bolster the country’s competitiveness in the global market
The Italian government has approved a new annual €1.5 million fund to support live music through activities such as producing new performances. Other elements of the live music push include helping young people gain access to tickets.
How it works:
Live music companies in operation for at least a year will be able to access the fund.
In 2027, a new program called The Bonus Valore Cultura (Cultural Value Bonus) will launch to give high school graduates credits for tickets to live music performances as well as museums, exhibitions, and theatre shows.
That program will have funding of up to €180 million.
What they said:
Bruno Sconocchia, Assoconcerti President: “With this act, for the first time, the State concretely recognises the cultural, social, and economic value of a strategic sector not only for the entertainment world, but for the entire country. This is recognition that the sector has been waiting for years and that Assoconcerti has set as a goal since its inception.”
Carlo Parodi, Assomusica President: “This is a long-awaited and significant recognition for a sector that plays a central role in the country’s cultural and creative industry, and which makes a significant contribution to the economic, employment, and tourism development of the region.”
👋 Disclosures & Transparency Block
This article was written with information sourced from IQ.
We covered it because it represents a major development in the global music scene.
