Music Biz Member Spotify Pledges Up to $10M To Support Artists, Developing In-App Fundraising Feature
Spotify is rolling out a suite of new features and projects intended to help artists who are struggling financially due to the coronavirus crisis. First up is the new COVID-19 Music Relief project, which helps connect musicians and other music professionals in need of funding to grant-giving organizations, in addition to helping fundraise. To start, Spotify is donating money to the project’s first partners: Nonprofits PRS Foundation, Help Musicians and MusiCares, and will match donations made via the project’s webpage dollar-for-dollar for up to a total Spotify contribution of $10 million.
The company is also working to add a new feature to its Spotify For Artists platform that will enable artists to fundraise directly from fans, and Spotify will not take any cut of the contributions. This will give artists on Spotify the ability to link out to a verified funding page for themselves, another artist in need, or any other initiative.
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