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David Cameron pledges millions to help independent record labels

The Government will give out grants to British independent record labels in the hope that the success of Adele can be emulated.

The Adele factor has benefitted the music industry, but she can't do it all on her own
The Adele factor has benefitted the music industry, but she can't do it all on her own Credit: Photo: Getty Images

Independent record labels are to receive grants worth millions of pounds to help boost their overseas sales, thanks to a new Government initiative.

Prime Minister David Cameron met record executives at Downing Street today to finalise the Music Export Growth scheme.

The scheme will make £3 million available over three years to labels who are attempting to promote their acts internationally at the start of their careers.

Talking about the initiative, which has been created by UK Trade and Investment and the BPI, Business Secretary Vince Cable said:

"The British music industry is a real success story. We are world leaders in creative talent and our music has been exported all over the world.

"It's not just about enjoying the music. This worldwide success means jobs and economic growth back in the UK, so the Government must do all we can to back our winning sectors and ensure their future success."

The Government hope that the scheme will help up-and-coming acts to emulate the success of British singer Adele, whose album 21 was the biggest selling in the world in 2011 and 2012. Adele is signed to independent British label XL.

Four of the 12 nominees announced last night for this year’s Barclaycard Mercury Prize are also on independent labels.

BPI chief executive Geoff Taylor said: "Independent labels are an important part of what makes British music so special. With global interest in UK artists at such high levels, we want to ensure that indie artists and labels have the best possible chance to achieve success overseas.

"We are delighted that government has listened to calls for export support that will help British music do even better around the world."