Individual artists, writers, film makers, poets and painters could receive multi-year funding for the first time in a radical shake-up of Scottish arts funding.

Creative Scotland last night revealed a new streamlined funding plan at the first round of its Open Sessions at The Lighthouse in Glasgow.

Chief executive Janet Archer and her deputy Iain Munro outlined its new "simplified, clear and easy" funding plans, which will come into operation next year. The national arts funding body is understood to be actively considering an expansion of the concept of short-term artist bursaries.

Multi-year funding agreements would be put in place for a limited group of individual artists, so a select group could work with a degree of financial stability over several years.

This kind of funding, similar to the Irish scheme of Aosdana, which has been in place since 1981, has long been mooted in Scotland but has not been put in place.

Every company currently funded by Creative Scotand, from visual arts companies, theatres and festivals to dance and music companies, will have to apply for "regular funding" next summer, and will be informed of their fate in autumn 2014.

Two other funding streams will also exist, for projects and "targeted funds".

It is expected the number of companies and genres receiving regular funding will increase after this process.