France pledges €50m for music, launches ‘festival fund’

The French government has pledged a further €50 million to support the country’s music industry, as well as establishing a ‘festival fund’ to assist events forced to cancel by the coronavirus outbreak.

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

Riester (pictured) also announced the creation of a dedicated fund for festivals, to be established in concert with local authorities and the régions, according to MGB Mag. Major live events are off limits in France until at least September, although authorities have indicated that some “small festivals” may be allowed to take place.

The French economy has lost up €1.8bn as a result of the cancellation or postponement of summer festivals

Speaking before Riester, president Emmanuel Macron said he would help to 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 at risk of being bought by major companies”.

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

The latest intervention by French authorities comes as a study reveals the economy has lost up €1.8bn as a result of the cancellation or postponement of nearly all summer festivals.

Much of France began to ease its eight-week lockdown today (11 May), with shops reopening outside Paris and people no longer required to carry permits in order to leave their homes.

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