General national economic measures
*small business relief or other financial support,
*income support for freelance workers,
*income support for employees
*tax returns and or VAT returns suspended/delayed,
*company tax relief
*unemployment relief for freelance workers
*loan repayment holiday
*mortgage payment holiday
*interest free crisis loans
On 17 March the Italian government presented the “Cura Italia” decree, €25bn to stem the economic impact of the coronavirus crisis.
Italian Ministry of Economy: http://www.mef.gov.it/covid-19/
Stimulus package (€16 billion including health sector):
reduced taxes and contributions for all companies in severely affected sectors (tourism and leisure, transport, restaurants and bars, culture, sports, education, events) and all firms below €2 million:
suspended VAT payments and contributions in March
60% tax break on business rents
50% tax break for sanitization costs
donations for Covid19 are tax deductable
tax payments demands and tax declarations put on hold
€10.4 billion to keep jobs and support unemployed:
layoffs for all workers delayed for two months
unemployment insurance extended to all sectors, regions, and employees (9 weeks)
€600 bonus for self-employed and freelance workers
employees not-working-from-home got €100 bonus in March
working parents got €600 bonus
all firms below €2 million and others in severely affected sector can defer tax payments
micro, small, and medium sized firms could delay loans and mortgages payable in installments until 30 September.
Other measures (€130 billion):
€100 billion new loans guarantee fund for SMEs
€10 billion state guarantees for banks financing big and medium enterprises
€10 billion to boost liquidity for banks and enterprises
€10 billion for other measures
On 7th April, a second decree was released. It invests 400 billion euros for companies as loans, of which 200 for exports:
For SMEs a €7BN fund is made available until the end of the year through high street banks as 100% state guaranteed loan, with interest close to 0%, returnable in a max of 6 years. Any firm or sole trader can apply up to a maximum of €25K for single person enterprises, double the amount the firms pays out in yearly salaries for firms with up to 499 employees and without limits but with a 90% guarantee to larger firms.The loans are cost free for all, assigned quickly and without bureaucracy for the first tier, while the second and third tiers need to provide adequate credit ratings.
Tax, contributions and VAT holiday for April and May: applied to companies and sole traders whose gross earnings dropped by 25% or more in March.
National measures specific to the music sector or to culture in general
The music sector can benefit from the above-mentioned general measures.
In addition, there is other support for the cultural sector:
- 10% of private copy income is going to artists, songwriters and freelance workers, estimated to be worth €13m (not for music publishers or record companies).
- €130m fund for live sector (excludes producers, publishers, promoters, touring agents, artists, musicians).
- Cultural workers and non-profit organisations can access unemployment benefits.
- Eligible freelancers get EUR 600 allowance (for March) (fund of EUR 48,6 million available for 2020.
- Certain operators like museums, theatres, concert venues and other cultural organisations can suspend social security and welfare payments, plus taxes and VAT.
- Tickets already sold for cinema, museums, theatres etc can be exchanged for vouchers valid for 1 year.
-On 20th April, several music organisations sent a letter to the Italian Prime Minister, as well as the Culture and Finance Ministers, to ask for sector specific intervention, set out in 10 action points designed to save our sector. Read the statement here and the action plan here (English translation here).
On 17th May, Italy's Prime Minister announced that seated indoor (up to 200 people) and outdoor concerts (up to 1,000) would be allowed from 15 June, with specific distancing and hygiene measures in place. (more info here)
Measures taken by local collecting society organisations
- Deduction from private copy levy (see above)
- Authors society SIAE have opened an Emergency Solidarity Fund amounting to €500k and bought 2,500 food packages to be delivered directly to members in financial difficulty or experiencing health problems.
- An Extraordinary Support Fund has also been launched and is available to all members. The fund amounts to €60 million.
- See other financial measures here (for a total of €110 million).
- NUOVO IMAIE, New Mutualistic Institute of Performing Artists launched a Special Fund for Artists created for the Coronavirus emergency: https://www.nuovoimaie.it/fondo-speciale-nuovoimaie-fai-domanda-online-dal-23-marzo-al-23-aprile-2020
- Producers' society SCF agreed at its AGM in April to give a 50% deduction in its commission for members who earned 10k euros or less as a yearly average between 2017 and 2019. This is not repayable and is effective now for all distributions in 2020.
- ITRIGHT (the competing PRO) announced an advance payment of €300 and a €5M guaranteed loan facility for a maximum of €3K for any label, when they open an account with a specific bank. This is on top of the measures announced back in April, a one time ex gratia payment to labels, for a total of €3,5M.
Other music funds available
In progress: Puglia Creativa - Salva la cultura / Save arts workers in Puglia: crowdfunding to support art workers.
Emilia Romagna Region has distributed a survey to cultural enterprises to find out all about them and then intervene
Some regions have made smart working initiatives for businesses including ours
AFI has made available 100 thousand euros for members in difficulty
Emilia Romagna Music Law which finances the specific sector
Laziosound intervention by the Lazio Region
Support from online services
Many concerts, festivals and events are taking place online. Believe has launched a call to finance 15 projects in mid-May.
For other initiatives by online services click here.
Support from national radio and other media
Radio Rai is broadcasting more concerts by Italian artists live.
Social media and other campaign to promote music during the crisis
Ripartiamo con la Cultura: appeal on TV (LA7) about the importance of concerts, cinemas and theatres for the economy of countries like Italy. More here.
General States of Emerging Music - Appeal to the Government with 8 recommendations from the music sector for the “Cura Italia” Decree.
Rockol launched a campaign to enhance home music and conferences.
Local programmes supported by EU funds covering music
None so far.
Business and other expected losses
• Music sector: € 1 billion in turnover losses in total
• Clubs and small musical stages for live events: about €250 million, equal to 30% of the concert market approximately
• Concert and tour organizers * and artist agents: €800 million
• Small and medium-sized festivals: approximately €100 million
• Major festivals: €200 million
• Music publishers / author / collecting society: €200 million overall, about €80 million for independents
• Record Producer / Artist / Collecting Company: €100 million overall, €40 million for independents
• Musical instrument €250 million
• Discos and DJ events: €800 million
Producers' society SCF foresees a decrease in income ranging between 27% and 48%, depending on how and when different sectors will be allowed to reopen (i.e., pubs, restaurants, disco pubs, clubs, etc.).
For more info: