Music Venue Trust has revealed that grassroots music venues part of the Music Venues Alliance have experienced an 89% success rate when applying for the UK government's Cultural Recovery Fund.
Now that the UK government's £1.57billion Cultural Recovery Fund has been distributed, Music Venue Trust has confirmed that grassroots music venues part of the Music Venues Alliance had an 89% success rate when applying for funding.
Out of the 291 music venues part of the MVA that applied for funding, 251 were successful (89%), while the other 33 (11%) were unsuccessful.
Grassroots venues part of the Music Venues Alliance received a total amount of £41,352,593 through the Cultural Recovery Fund, which is approximately 12.4% of the total fund. The £41.3million has been distributed between 251 MVA member venues.
Music Venue Trust CEO Mark Davyd said, "Music Venue Trust warmly welcomes this very effective intervention by The Department for Culture, Media and Sport and Arts Council England into the grassroots music venue sector. As a result of this fund, the challenges facing the sector have been substantially reduced. Music Venue Trust will now shift its focus and will be announcing plans very shortly to tackle the remaining challenges facing sole traders, smaller venues that did not qualify for support, and the venues who were unsuccessful or were under-funded."
The second round of the UK government's Cultural Recovery Fund distribution was announced on Saturday (17 October).
Last week London music venue The Lexington revealed that they're "still in serious peril" after receiving under 40% of the funding they applied for in round one of the UK government's Cultural Recovery Fund.