Brussels, 29 April 2020
As Europe moves into recovery mode, IMPALA sets out an ambitious roadmap for the EU and member states to boost investment, growth and jobs through music and the cultural sectors who account for 12m jobs and 5.3% GVA.
IMPALA proposes a timeline with ten steps designed to sync with the EU's own recovery planning. This roadmap forms the basis of a 5-year recovery strategy focussing on one of Europe’s key industries, and one of the first and hardest hit by the current crisis - the cultural and creative sectors.
Under IMPALA’s roadmap, a mix of financial and non-financial tools would be rolled out to increase liquidity in the music and broader cultural sector. The timeline proposed requires decisions from May to September and beyond.
- Step 1 – Recognising music and culture as priority sectors (May 2020)
- Step 2 – Co-ordinating de-confinement and mobility strategies across Europe (now onwards)
- Step 3 – Allocating sector specific EU and national crisis funds (May 2020)
- Step 4 – Adopting 5-year state aid framework (May 2020)
- Step 5 – Increasing allocation for culture in future EU budget (May 2020)
- Step 6 – Boosting loans for small and medium businesses (May 2020)
- Step 7 – Granting VAT holidays and longer-term measures (when retail stores re-open)
- Step 8 – Adopting national tax credit schemes (by September 2020)
- Step 9 – Implementing EU copyright directive by the summer (July 2020, September latest)
- Step 10 – Reviewing tools to value music and culture properly (September 2020 to January 2021)
Helen Smith, Executive Chair of IMPALA commented: “As life across Europe gradually takes on some level of normality, a recovery timeline is needed for the cultural sectors. Coming out of the crisis will be challenging, and at the same time it is an opportunity for growth. The key is putting the right financial and non-financial tools in place to promote investment in creativity. Our roadmap is about acting now to build a recovery plan for the next 5 years and beyond.”
Francesca Trainini, Chair of IMPALA and the Task Force added: “The contribution of music and culture to Europeans’ wellbeing is huge, on top of our economic value. This is why we need a long term strategy and its time for the EU and member states to put in place ambitious sector specific plans focussed on recovery.”
To see IMPALA’s roadmap in full, click here. This follows the publication of IMPALA’s crisis plan at the beginning of the pandemic in Europe and the launch of a website mapping measures in support of the independent music sector at EU, national and sector level.
More about IMPALA
IMPALA was established in April 2000 to represent independent music companies. 99% of Europe’s music companies are small, micro and medium businesses and self-releasing artists. Known as the “independents", they are world leaders in terms of innovation and discovering new music and artists. Independents account for more than 80% of all new releases and 80% of the sector's jobs. IMPALA has its own award schemes to help promote cultural diversity and new talent and highlight the artistic contribution of independent music. To help the sector face the coronavirus crisis, IMPALA set up a task force and produced a mapping tool to map responses to its crisis plan calling for urgent action from the EU, national governments and also the music sector. IMPALA also promotes the #LoveRecordStores campaign to support local record stores during the crisis.