The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Treasury

LightningAid comes to the rescue of the UK’s independent music scene

Trade bodies, such as the Association of Independent Music, are taking it upon themselves to help the most affected in their industry during the coronavirus lockdown, turning to fintech solutions to do so.

music-amps-marshall-on-off-780.jpg

AIM turns on the cashflow to help the industry's self-employed during the Covid-19 crisis



With the UK in coronavirus lockdown, concerts, gigs and tours across the country have been cancelled, but it is not just audiences who are losing out. 

“In the music industry, there are a number of people that fall through the net,” says Paul Pacifico, CEO of the Association of Independent Music (AIM), a British trade body that represents the interests of independent music labels, artists and distributers.

“In addition to the labels and the musicians, the roadies, the sound technicians, the press team, makeup artists and others – these are the people that are finding it difficult to survive as business for them has completely dried up.”



We wanted to keep some humanity in the system, to remain flexible – compassionate even - Paul Pacifico, AIM


Once the realities of the coronavirus pandemic began to set in, the British government started rolling out a number relief packages for businesses and individuals struggling to manage in lockdown.








You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree