Spotify showing support to the tune of up to $10 million
Spotify has released a whole host of new features and projects on March 25 to help artists who are struggling financially due to the coronavirus crisis.
“Though streaming continues to play a key role in connecting creators with their fans, numerous other sources of revenue have been interrupted or stopped altogether by this crisis,” the platform notes in a new blog post about its efforts.
Spotify’s new COVID-19 Music Relief project will help connect musicians & professionals in need of funding to grant-giving organizations. Spotify is donating money to the partners: Nonprofits PRS Foundation, Help Musicians and MusiCares, and has agreed to match donations made via the project’s webpage up to a total Spotify contribution of $10 million.
The streaming platform is also making temporary changes to see of its components, to better serve creators during the current global crisis. This includes Music talent marketplace SoundBetter , who are waiving its revenue share, audio recording platform Soundtrap is then offering extended free trials for educators and podcast firm Anchor is waiving fees on its listener option feature.
Finally spotify is set to add a new feature to its Spotify For Artists platform that will allow artists to fundraise directly from fans, form which Spotify will not deduct any fees, giving creators the ability to link out to a funding pages, other artists in need, or other initiatives. sign up to receive updates here.