President Barack Obama will unveil his ambitious plan on Thursday to “fix” the music business.
The announcement, which will be the first by a sitting president since 2009, is part of a larger strategy aimed at ensuring the future of the industry.
Obama, who was elected in 2008, has sought to make the case that the music world needs a fresh start and that “the future of our music and the world is at stake.”
“If you don’t have a great music business, you have no future,” Obama said in a speech on the topic on Thursday, flanked by a slew of former musicians, including Bob Dylan, Tom Petty and Paul McCartney.
“It’s time for the music to take a new direction, a new vision, and to reinvent itself.
And the future that we’re building right now, the music we’re making, we’re working toward, we are working toward for a new generation, it’s not just a matter of if.
It’s a matter how.”
The president also announced the creation of a new nonprofit called the Music and Culture Council, which would help oversee the industry and promote the nation’s music.
He will unveil the plan at a White House reception that will feature acts like Lady Gaga and Lady Gaga.
“Today, we have a lot of work to do,” Obama told the crowd, adding that he was optimistic about the future.
“We’re not going to have to wait forever for a savior,” he said.
“But we do need to do more.
We need to make sure we’re delivering the goods.
We’re going to do our part.”
The White House released a list of initiatives that it says will boost the economy, create jobs, and ensure the health of the country’s music industry.
Among the initiatives the administration is promoting is the $1 billion “Music Fund,” a fund that will allow artists and publishers to receive funding from the federal government for music production.
Obama said the money would be used to fund the production of music videos, concerts, film, music videos and other projects.
The administration is also pushing for “Music Innovation Centers” that will encourage innovation in the music-related industries.
They include the National Institutes of Health and the National Endowment for the Arts.
The White Houses chief music officer, Tom Pomeranz, also announced a $25 million plan to promote the future and growth of the music market.
He is calling for a $15 billion investment in the country.
“Our goal is to create a world where music, not just the music of artists, but the music that people listen to is a big part of our identity,” Pomerantz said.
“And we’re going forward to do that, and make it easier and more affordable for everyone to be a part of it.”
A separate $30 million initiative, which was announced last month, will help musicians, record labels and other business owners to access the federal financial help that has helped keep the industry afloat.
It will also help fund “innovation hubs” that aim to encourage creative new ways to reach the American people.
Pomeranz said that his administration is committed to ensuring that music is an important part of American life.