73 organisations from around the UK will receive support from the initiative.
It's also been confirmed that an additional £6m in royalties will be paid to members by PRS for Music each year.
26 songwriters and composers picked up Ivor Novello Awards across 14 categories earlier this evening (23 May).
Up to 10 grants will be up for grabs when applications open for unsigned independent artists next week.
The two organisations will work together to develop and nurture musical talent at the renowned school.
The new festival will serve as SXSW's European edition.
25 trophies were awarded, with PRS members taking home multiple accolades.
The call comes after a UK Music poll found that two thirds of UK adults are concerned about AI replacing human creativity.
Andrea is among the leading executives who, Billboard say, are 'driving success' for the music industry.
Switching your account...
.ashx?h=563&w=1000&la=en&hash=C44C2431EA591DB600874E5EBCA8F058)
