Since the onset of the pandemic, streaming giant Spotify has been increasing efforts to address the crisis by donating ad inventory and platform space to share news and health information with users, and creating a COVID-19 news hub to provide updates and information.
Earlier today (26/03), the company announced that they have launched a series of initiatives dedicated to supporting artists during this trying time: Spotify COVID-19 Music Relief, a new Spotify for Artists feature, and wavier of fees from Spotify Creator Tools.
Spotify COVID-19 Music Relief to raise $10M by matching donations made to verified charities
The Spotify COVID-19 Music Relief project sees Spotify working with organisations that offer financial relief to those in the music community most in need around the world. It has partnered with MusiCares, PRS Foundation, and Help Musicians so far, and is currently seeking out more charities to donate to. Spotify will match donations made via the relief here, dollar-for-dollar up to a collective total contribution of $10 million.
New feature for artists to fundraise directly from fans
The company is also in the process of launching a feature that will enable artists to fundraise directly from fans, which will allow artists to direct listeners to their preferred fundraising destination on their profile pages. The donations will go to themselves, another artist in need, or to another initiative of their choice. Spotify will not take any cut of the contributions. Interested Spotify for Artists users can sign up here.
Spotify creator tools to waive fees
In addition, Spotify creator tools will also be waiving their fees in efforts to reduce the burden on musicians. Music talent marketplace Soundbetter is waiving its revenue share, audio recording platform Soundtrap will offer extended free trials for educators, and Anchor will waive fees on its Listener Support feature.