November 28, 2011

'Creative Europe' plans

A proposed EUR1.8 billion fund to support the cultural and creative industries in Europe was announced on 23 November with the unveiling of the Commission's proposals for the new 'Creative Europe' programme for the period 2014-2020.

Intended to integrate the areas of focus of the longstanding MEDIA and CULTURE programmes, the new framework programme's concentration would be on targeting support to improve the prospects of artists, professionals and cultural organisations who are active in a sector which directly employs 8.5 million European citizens. This includes a strong emphasis on assistance in accessing new markets in Europe and beyond through training to strengthen capacity to work internationally (e.g. on language issues) or through direct support (e.g. with distribution of cultural works). Support for efforts to adapt to the digital era will
also be available.

The largest chunk of the fund- EUR900 million - is being provided to the cinema and audiovisual sector (including TV and video gaming) while almost EUR500 million is destined for cultural actions relating to music, publishing, performing arts, fine arts, heritage and other areas. In both cases this represents a sizeable increase on the current allocations to the MEDIA and CULTURE programmes respectively.

The Commission is also proposing a sub-programme to allocate more than EUR210 million to a new financial guarantee facility, which would attract extra funding from investors on the basis of risk sharing with the EU, thereby enabling small operators to access up to EUR1 billion in bank loans. This is recognition that other
EU risk sharing initiatives (see articles above) are not appropriate to the specificities of cultural and creative industries which tend to be smaller in stature, work on a non-mass production basis, and deal in intangible assets such as intellectual property rights.

Another cross-cutting element will provide EUR60 million in support of analysis and studies for policy cooperation and fostering innovative approaches to audience-building and new business models.

Further details:

Posted by iroronan at November 28, 2011 10:11 AM

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