AIM Covid-19 Crisis Fund
In April 2020, AIM’s Covid-19 Crisis Fund was launched with £500,000 to provide financial aid to freelancers, self-employed contractors and sole directors who are facing hardship due to lost work on cancelled projects with independent artists signed to AIM Members. New donations in September 2020 brought the fund’s total to £800,000 – well on the way to its original £1 million target. The much-needed injection of £300,000 included a £50,000 donation from PPL, on top of the £100,000 the company originally donated when the fund was launched.
Despite the government’s initiatives and the hardship funds which have already been created at the time, there were many vital music industry workers who fell through the cracks and needed help. Through the AIM fund, the independent music community came together at their time of need to help.
The fund was open to any contractor due to work with new and developing artists currently signed to AIM member labels who lost committed income because of cancelled projects with those artists and who did not qualify for other music industry hardship funds. This critical part of the music industry ecosystem including tour crews, studio producers, mixing engineers, radio pluggers, graphic designers, stylists, photographers, publicists, managers and AIM Rightsholder Members themselves who are suffering serious hardship as a result of cancelled artist projects. AIM member labels will invite signed artists and their managers to nominate candidates to be pre-approved on this basis.
AIM would like to take the opportunity to thank its members and stakeholders pledged contributions to the fund: Beggars Group, Believe, Cherry Red Records, Domino Recording Company, Dublin Vinyl, Elephant Music, EmuBands, Ninja Tune, PPL, Sega Bodega, Specific Music, Supernature, SRVL and Warp.
Paul Pacifico, CEO of AIM, said: “We would like to offer our most sincere thanks to the companies in our community who have made this latest round of donations at such a crucial time. Their generosity will make a huge difference in the day-to-day lives of so many of the freelance and self-employed workers in the independent music sector who have seen their income completely wiped out by coronavirus. From the feedback we’ve received so far, it’s clear that this fund has had a huge impact already, and thanks to our supporters, it can continue to be a lifeline as the pandemic continues.”
Peter Leathem, CEO of PPL, said: “COVID-19 has had a huge impact on the music industry; recordings and releases have experienced delays whilst live performances in the UK and overseas have been postponed or cancelled. With the current outlook still uncertain, this hardship is likely to continue into 2021, making funding initiatives like the AIM Covid-19 Crisis Fund so important. PPL has always said that if more help is needed, we would explore how to support the music community further, and so we are glad to be able to contribute once again to this essential fund. We are proud to work closely with AIM as they seek to support the independent music sector through these challenging times.”