After much lobbying, the British live music industry has been handed somewhat of a life raft by the U.K. Government in the form of a £1.57b rescue package to help cultural and heritage organizations weather the challenges brought about by the coronavirus crisis.

The funding will offer emergency grants and loans to Britain’s music venues and theaters as well as museums, galleries, independent cinemas and heritage sites. Funding will also be provided to restart construction work at cultural and heritage sites paused as a result of the pandemic. There's no clarification yet on whether any cash will be allocated to the festival sector.

The money represents the biggest ever one-off investment in U.K. culture. Prime Minister Boris Johnson said: “From iconic theater and musicals, mesmerizing exhibitions at our world-class galleries to gigs performed in local basement venues, the U.K.’s cultural industry is the beating heart of this country.

“This money will help safeguard the sector for future generations, ensuring arts groups and venues across the U.K. can stay afloat and support their staff whilst their doors remain closed and curtains remain down.”

Welcoming the announcement, Geoff Taylor, Chief Executive BPI & BRIT Awards, said, “We are delighted that the Government has recognized the special importance of the arts and creativity—including music—to our national life. We warmly welcome specific mention of our cherished music venues, and to support for the arts, which should also assist our classical music sector.

“The live music industry, and the artist community that it supports, has felt the full, devastating force of the Covid-19 emergency and grassroots venues urgently require support if the U.K. is to retain its exceptional local music scene and continue to produce world-beating artists. We look forward to further discussing how the funds will be allocated.”