EU-Backed LIVEMX Launches With $4.4 Million, Aims ‘To Nurture a More Diverse and Sustainable Music Sector in Europe’

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Porto, Portugal. Photo Credit: Everaldo Coelho

The European Union, European live event representative Live DMA, and Portugal-based consultancy firm INOVA+ have officially launched LIVEMX, a project designed “to nurture a more diverse and sustainable music sector in Europe.”

Word of LIVEMX’s debut – and its €4 million (currently $4.36 million) in music industry funding – just recently came to light in a formal release from the involved parties as well as a financial breakdown posted on the European Commission’s website. On the latter front, the appropriate profile displays nearly €4.50 million ($4.91 million) in overall EU contributions for the initiative, with the lion’s share of the multimillion-dollar tranche reaching INOVA+.

Also tasked with coordinating LIVEMX, 26-year-old INOVA+ has since 2021 been leading the European Music Council’s MusicAIRE, and to date, this separate project is said to have distributed about €2 million ($2.18 million) in grants designed to help the music space recover from COVID-19 restrictions.

Expanding upon the objective, LIVEMX is now poised to provide the aforementioned €4 million worth of “grants and capacity building actions” – centering specifically on “music export,” venues, and “digital circulation and engagement” – to 90 recipients, the collaborating entities relayed.

Meanwhile, INOVA+, Live DMA, and the European Music Exporters Exchange (EMEE) provided statements about their respective goals for LIVEMX, which is expected to gather opinions via an online survey to assure that its efforts are “relevant and well-structured.” Additionally, LIVEMX is preparing to kick off the funding application process later in 2023, with three years of scheduled operations in total.

“LIVEMX is a project and opportunity that fits perfectly with the mission of EMEE, and the European Music Export Strategy designed with the commission these last 3 years to support a stronger, diverse and innovative music industry sector through collaboration, mobility and capacity building,” said EMEE, which consists of 32 music export offices.

And in comments of its own, INOVA+, despite not describing its plans at length, pointed to broad objectives of “supporting the growth of the European music sector” while promoting “exciting grass-rooted opportunities with European added-value.” Plus, in a job listing for a part-time communication and production assistant, LIVEMX elaborated upon the nature and aims of the funding-driven undertaking.

Last week, France’s SACEM posted its 2022 financials, including all-time-high collections of over €1.41 billion ($1.54 billion). Although digital revenue neared €500 million ($545.23 million), contributing to the year’s record income, the society likewise indicated that “general rights,” notwithstanding a significant improvement from 2021, had failed to return to their pre-pandemic level.

June has also seen the UK’s Tickets for Good, which provides free and discounted passes to healthcare workers to help fill partners’ venues, disclose £500,000 ($635,917) in funding. Upon announcing the capital milestone and the support of Robbie Williams, the company highlighted plans to expand into more territories.