As the global COVID-19 crisis continues to affect the music industry and our global community as a whole, the Music Business Association encourages everyone to support our colleagues through the initiatives and relief programs being put in place around the industry. Below, we’ve compiled the various efforts that both Music Biz and our members have taken to support one another in this tumultuous time, updated weekly as new initiatives emerge:
Music Biz LIVE is our new interview series held via Zoom, allowing us to touch base with the industry, see how companies are responding to the ongoing COVID-19 health crisis & calls for social justice reform in the U.S., and what “the new normal” may look like going forward.
Music Biz encourages everyone to support our colleagues who have been hit particularly hard due to this crisis — the independent retail community. The best way to do so is to follow them on their social media pages to learn about their online storefronts, curbside pickup services, and how you can purchase music products and gift cards from them at this time.
For a searchable directory of independent retailers across the country, visit Record Store Day’s website.
The RIAA has launched MusicCovidRelief.com, a resource in conjunction with their partners in the U.S. Music Community to help music professionals access information and applications to receive benefits made available by the CARES Act.
Music Biz member Spotify has launched the Artist Fundraising Pick, allowing artists to raise money for themselves, their crew and teams, or a verified organization participating in the Spotify COVID-19 Music Relief Project. Spotify is partnering with Cash App, GoFundMe, and PayPal.me to collect and process donations, with Cash App specifically establishing a $1 million relief fund for artists.
In addition, the company has pledged up to $10 million in donations to its partners in the COVID-19 Music Relief project, which will help connect artists and other industry professionals to grant-giving organizations.
Music Biz member Instagram has released a series of one-sheets aimed at sharing best practices for keeping connected with your audiences across your feed, IGTV, Live and more! Click the links below to access each sheet:
The COVID-19 crisis has posed a great deal of financial stress on the creative community, effectively halting new touring income and putting new release strategies in jeopardy. The Music Fund offers artists the ability to sell a portion of their streaming royalties — down to a 1% split – as an investment to help finance the next step of their careers, or to simply help make ends meet through the duration of the crisis.
Music Biz member Brian Penick has launched Music Industry Careers, a marketplace featuring job listings ranging from internships to full-time roles, mentorship & collaboration opportunities, networking opportunities, educational materials and much more — all for little to no cost.
Click here to learn more.
Music Biz member JamBase has debuted a new livestream calendar which allows artists to easily publicize their livestreams and reach their fans from the comfort of their homes.
Music Biz member Bandcamp waived its revenue share on sales of music and merch products, giving the full proceeds to artists to support them through the COVID-19 crisis on Friday, May 1; Friday, June 5; and Friday, July 3. The program has now been extended and will run every first Friday of the month through the end of 2020.
The company first took this measure on Friday, March 20, which saw music fans spend $4.3 million in direct support their favorite artists — more than 15 times what is sold on a typical Friday.
Music Biz member Mark Burton of Pop-Daze is offering business valuation services to Music Biz members looking to apply for SBA loan assistance. Details from Mark below:
“Hi everyone! Prior to entering the music industry a few years ago, I spent most of my career (about 25 years) in the finance and legal professions. Most recently, I was a partner and in-house counsel in a private equity fund. Earlier in my career I was with a business valuation company. While I have no interest in going back into finance, I would be more than happy to spend a little time providing guidance to anyone looking for a business loan (I don’t know real estate, just business), or preparing to look for capital or merger and acquisitions. The best way to reach me is via my email: email@example.com. I look forward to helping others in this wonderful organization.”
Music Biz member Label Logic has shared an in-depth document prepared by artist Sav Buist of The Accidentals detailing how first-time streamers can get their livestreams up and running via OBS.
Music Biz member Show4me has launched a new online concert platform, enabling musicians to play paid shows from their homes. Throughout the duration of the COVID-19 crisis, Show4me will give the fees they would normally collect from this service back to the artists to help them recoup some of the income they have lost out due to cancelled tours. The company also will waive fees for its other services for two months, to further support the artists using their interactive music network platform.
Music Biz member Clio Music is helping support the music industry two-fold:
Muse by Clio, the Clio editorial site, has launched Muse Recruits, a column designed to connect creative talent with the employers who need them right now. Click here to learn more.
In addition, the team has added a #WFH Diaries series highlighting the inspiring (and sometimes humorous) stories of how leaders from across advertising, brands, and music/entertainment industries have adjusted to working life at home. Click here to learn more.
Starchive is supporting artists and the creative community amidst the COVID-19 health crisis by offering three free months of their affordable, private cloud-based content library in the cloud — use discount code “MUSICBIZ.”
Music Biz member SoundCloud has partnered with Twitch to fast-track Affiliate status and opening up a new revenue stream for artists and content creators — click here to learn more.
In addition, SoundCloud has pledged $15 million in support to artists and creators during the crisis — read the breakdown of the funding here.
Facebook has created a $100 million grant program that can be spent on operational costs like paying workers and rent, available for 30,000 businesses in the more than 30 countries it operates in.
MusicPortland has assembled a summary of various projections for small businesses and sole practitioners who are looking to take advantage of relief resources including the SBA Payroll Protection Program or Economic Impact Disaster Loans.
The Guitar Junky recently published two insightful articles to help artists stay productive and healthy during the COVID-19 crisis — click the links below to check them out.
LendEDU has compiled a resources page with information on how you can best manage your finances through the COVID-19 pandemic, with information on government and private relief loans.
Click here to learn more.
Best Accounting Software has assembled a list of the resources available to help struggling small businesses weather the effects of COVID-19, including info on each state’s eviction/foreclosure protections, grants, loans, tax deferrals and more.
Click here to access.
As in-person events begin to take place in countries where restrictions are being lifted, Function Central has created a guide entitled “Inclusive Event Planning after COVID-19.” The guide covers important topics including:
Americans for the Arts has posted a comprehensive list of relief resources for arts/culture organizations and creatives/individual artists to help them recover through this trying time.
Click here to learn more.
Small businesses have particularly struggled due to the COVID-19 crisis. FinImpact has compiled eight financial tools that can help improve their situation during this difficult time.
Do615 has launched the #DoStuffAtHome Amplification Project, in which they will award their readers who are currently out of work with $1 million in promotional media to spread the word about the innovative ways they are making ends meet.
The Music Business Association has signed onto a joint letter with a collection of other music and entertainment industry organizations to ask the United States Congress for additional aid for the entertainment industry via an updated CARES Act relief package.
In its latest newsletter, the Texas Music Office (part of the Office of Economic Development and Tourism) has issued a series of links to help industry professionals access COVID-19 relief resources.
Music Biz applauds the work of Senators Cardin and Wyden on the “Save America’s Main Street Act,” which would provide immediate cash flow to small businesses through a tax rebate, help them maintain payroll through a tax credit, and defer estimated tax payments. It would also offer support to sole proprietorships and freelancers like performing artists, producers, engineers and others who work gig-to-gig.
We encourage our membership to support this piece of legislation as well, and urge you to contact your state legislators to support its swift passage.
The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the COVID-19 health crisis. Visit the SBA’s website for more information on what areas are eligible for SBA disaster relief loans.