The Welsh Music Foundation [WMF] has suspended operations.
The organisation’s existing core funding deal with the Welsh government expired on June 30, with the offer of a short extension deemed to not be viable by the board. In a statement, WMF said:
“Despite our efforts over the past nine months to negotiate continued core funding, the Welsh government’s offer of a six month extension to enable the company to secure an alternative income stream whilst continuing to provide the core service was deemed by the board an unviable proposal.
"As an executive and board, we are extremely proud of the value and leadership we have shown within the industry and how, on an extremely modest revenue grant of £160,000 a year, we have leveraged much more money in project value, served many Welsh music businesses and developed the music economy of Wales.
“It is highly regrettable to be closing our office and operations and we are extremely concerned for the hiatus in service to the music industry of Wales that this causes. However having carefully considered a number of options, and in the knowledge that there is no further commitment from Welsh government to fund our service to the industry, it is the only responsible option currently available to us. The Board of WMF remain committed and will seek new investment and partnerships to support the development of the music industry in Wales.”
Formed in 2000, WMF became part of the Welsh musical landscape, offering support, guidance and, in the last 12 months, helping to bring the World Music Expo [WOMEX] to Wales, with an economic benefit of over £3 million for Cardiff. Three members of staff will be made redundant.
In a statement published by WalesOnline, a Welsh government spokeswoman responded to the news and briefly outlined their future plans:
"Welsh government offered WMF an extension of funding until December 2014 to allow its services to the music industry to continue whilst the organisation seeks replacement funding streams. This offer has been declined. We are exploring options to develop an advice service that works for all creative industries, including music.”
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