Spotify launches initiatives to help artists during the pandemic crisis
Spotify has pledged to match each donation up to $10 million
Digital Music News (DMN) reports on the three new initiatives launched by Spotify to help artists who are inhibited to earn a living during the COVID-19 pandemic crisis. As the report says, first of all, “Spotify has established the COVID-19 Music Relief project. Music Relief doesn’t accept donations, but rather, it directs concerned fans’ contributions towards organizations that are actively aiding artists. MusiCares (the Recording Academy’s charitable wing), Help Musicians, and the PRS Foundation are featured on Spotify’s COVID-19 Music Relief page, and Spotify has pledged to match each donation made through the portal (up to $10 million).”
The Sweden-based streaming company also announced a fundraising option to artists. From personal (artist-specific) charities to established relief organizations, as well as all others in between, Spotify creators will have the opportunity to solicit financial support directly through their profiles. Spotify won’t charge a fee for the feature.” It is said that this feature will be released soon.
Also, the company said that it will reduce costs and will have free trials on its Creator Tools, including SoundBetter, SoundTrap, and Anchor. These offers are available now.
DMN adds that “lockdowns and large-gathering bans have effectively cut artists off from live performance revenue, which typically comprises a substantial portion of overall earnings. As a result, many in the music industry, from IMPALA executives to Recording Academy interim CEO Harvey Mason Jr., are appealing to charities and governments for relief.”
In the meantime, some artists are of the opinion that Spotify is not doing enough, so they are circulating a petition which is “calling on Spotify to permanently increase (and triple, no less) artists’ royalties, both to help them amid the coronavirus pandemic and in the future.” At the moment, the petition has 1,500 backers. Spotify is yet to react to it.