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# IFPI, IMMF Join 92 Cultural Trade Groups To Fight Creative Europe Budget Cuts
- URL: https://www.hypebot.com/ifpi-immf-join-92-eu-cultural-trades-to-fight-creative-europe-budget-cuts/
- Published: 2020-02-19T14:24:41.000Z
- Updated: 2020-02-19T14:27:34.000Z
- Description: 92 music industry including the IFPI IMMF and European Festival Association and other EU cultural organizations have signed a joint letter fighting proposed budget cuts for Creative Europe 2021-2027. From the. Continue reading [https://www.hypebot.com/hypebot/2020/02/ifpi-immf-join-92-eu-cultural-tr
- Author: Bruce Houghton
- Tags: Music Business, arts, EU, #wp, #wp-post, #Import 2026-01-21 09:55

92 music industry including the IFPI IMMF and European Festival Association and other EU cultural organizations have signed a joint letter fighting proposed budget cuts for Creative Europe 2021-2027.

![](https://pbs.twimg.com/media/ERJILnxXsAA-xei?format=jpg&name=medium)

## [From the letter:](https://www.hypebot.com/content/files/www-live-dma-eu/wp-content/uploads/2019/12/open-letter-to-eu-leaders-on-creative-europe-culture-is-our-future-10-12.pdf)

“Today, Creative Europe represents a mere 0,15% of the overall EU Budget. This is by no means proportionate to our sectors’ contribution to the EU economy, which stands at **€509bn in value added to GDP and over 12 million full-time jobs (7.5 % of the EU’s work force**).”

“Our culture and our talents support artistic freedom and media pluralism, which are crucial for maintaining open, inclusive and creative societies. **Yet, culture is low on the EU’s political agenda, and these sectors remain structurally underfinanced.** The financing gap for Europe’s cultural and creative SMEs alone is estimated to be somewhere between €8bn and €13bn.”

“**This is why we welcome the European Parliament’s proposal to increase the Creative Europe budget to €2.8bn.** We call on the Council to support this much-needed boost to the future of Europe’s arts, culture and heritage, and the values they promote.“