General national economic measures
*small business relief or other financial support,
*interest free crisis loans,
*income support for employees,
*income support for freelance workers,
*business rates payment holiday,
*employer social security payment holiday,
*tax returns and or VAT returns suspended/delayed
See government guidance for businesses and self-employed here
-2020 Fiscal package (€7,5bn):
€1,34bn to provide an income to self-employed workers who had lost their revenue
€5,36bn to provide compensation to businesses that had lost their revenue
€510m to the wage costs of worker who were partially unemployed due to the crisis
€27 million to extend the sickness and unemployment benefits to a larger group of people by lengthening the period of rights to these support schemes
€23m to reimburse businesses the sickness benefits they had to pay to workers
€13m to create a pool for initiatives to support large-scale redundancies of work
€13m in compensation for businesses which were affected by the cancellation of large events
- 2020 Liquidity and guarantee measures (€8,8bn)
Around €8bn of extra credit available through an increase in the guarantees for small and medium-sized enterprises and large companies
€170m of supplementary credit through for liquidity guarantees for medium and small export firms
-Under a subsidy scheme that lasted until 29 August 2020, if companies promised not to cut staff, the state offered to pay 75% of employees’ salaries at a maximum of 23,000 Danish crowns (around €3,000) per month, while the companies pay the remaining 25%.
-Three tax measures were announced in March 2020 to boost business liquidity (more info here):
Large companies had 30 additional days to pay VAT.
All companies were granted four additional months to pay their labour contributions originally due through the end of June 2020.
The government also lifted the ceiling on businesses’ tax accounts so that corporations didn’t have to pay negative interest rates when placing cash in the bank. That limit rose from the previous level of DKK 200,000 to DKK 10 million (around €1,34m) until the end of November 2020.
-Government paid up to 90% of wage for 3 months for workers who were sent home, covered income for self-employed, helped to cover fixed costs.
-Easier access was given to reduced work time support.
-For businesses forced by law to close down, all expenditures including rent were fully covered by the State.
National measures specific to the music sector or to culture in general
The music sector could benefit from the above-mentioned general measures.
Also see the Ministry of Culture's overview of initiatives and aid packages here
A compensation scheme was put in place both for concerts that were cancelled and postponed.
The Danish government announced a further DKK 450 million in aid for culture and sports, as well as DKK 50m for a new ‘restart team’. The DKK 450m went towards extending a large number of compensation schemes dedicated to culture and sport until 31 January 2021.
Covid-19 measures and restrictions in the country can be found on the government's website.
Measures taken by local collecting society organisations
Koda decreased live concert streaming prices.
Other music funds available
A few private funds created emergency programmes. See for example:
Social media and other campaigns to promote music during the crisis
Business and other expected losses
With the entire festival summer 2020 getting cancelled, the fear was that many of those wouldn't come back in 2021 despite being eligible for some of the support programmes. The same for booking agencies. In 2020, at the time it was felt that while labels were definitely loosing out on a lot, it had not reached the level where their existence all-together was under threat.
For more info:
DUP - Danske Uafhængige Pladeselskaber - https://dup.nu/da/kontakt