Victorian Government to pump $20 million into live music industry

With six lockdowns under their belt, Victoria will be introducing a funding and interruption insurance scheme for live music.

COVID-19 had pretty devastating impacts on most industries, but few more prominently than the live music sector. With multiple lockdowns all across Australia forcing festivals to cancel last minute, gigs to be postponed, and more, the whole scene came to a halt.

The music and arts industry has been calling for more government support since lockdowns were first introduced, and now after months of cancelled and postponed events, the Victorian government has announced a $20 million funding and insurance scheme in an effort to pump some blood back into the state’s live music industry.

Courtney Barnett via Facebook

“For music lovers it means your favourite festivals will be up and running again, and you’ll be able to book your tickets with confidence, and for industry, you’ll be protected whether your shows goes ahead or not”, shared Premier Daniel Andrews.

The minister for creative industries, Danny Pearson, announced the $20 million Live Music Restart package, which will aim to support the return of live music.

Okay, but what does this all really mean? Let’s try and break it down:

  • Venues will have access to an $8 million program to recruit and train new staff, invest in COVIDSafe infrastructure and get more musicians and industry professionals back to work.
  • Music festivals and events will also receive $8 million to help them recover from the uncertainty and effects of rescheduled and cancelled events due to the pandemic.
  • In addition to a previously announced $5 million for regional and outer-suburban events, a further $4 million will bring music performances to the CBD and inner city.

So, basically – a lot of money will be pumped into venues and events, to help bring Melbourne back to its former glory as Australia’s most lively music city.

By investing in live music, the state will see a hike in tourism, it’ll give local businesses a much-needed boost, and it will give artists a platform to get back into it. Ultimately, it’s good for the whole economic ecosystem.

Melbourne via Visit Melbourne

They’re also introducing an Australia first COVID-19 event insurance product, which will support organisers of creative, sporting, and business events in the planning and execution of future events.

The 12-month scheme will be delivered by the Victorian Managed Insurance Authority (VMIA), and will be subsidised by the Victorian Government.

It will insure up to $230 million of events against cancellations due to public health measures, or where they might have reduced capacity due to restrictions.

This is very exciting news for the live music industry in Victoria, and although the application process has yet to be announced, it’s good to see the government placing importance on live music, and it will mean very good things for artists, venues, and fans.

Funding will be available through Creative Victoria.