As the crisis spreads around the world, streaming has proven to be invaluable for connecting creators to their fans as they shelter indoors. However, numerous other sources of revenue have been interrupted or stopped altogether as a result of quarantines and subsequent event cancellations.
The 'Spotify Covid-19 Music Relief' program recommends verified organizations that offer financial relief to those in the music community most affected.
The music streaming service has partnered with MusiCares, PRS Foundation and Help Musicians and is looking to adding more partners worldwide. The company will also be making a donation to these organizations and will match donations made via the 'Spotify Covid-19 Music Relief' page dollar-for-dollar up to a total Spotify contribution of $10m.
Spotify will also be developing a new tool that will enable artists to fundraise directly from fans. It will give artists on the platform the ability to link out to a verified funding page for themselves, for another artists in need or for a separate initiative of their choice. This feature will be optional for artists to leverage, however, as no changes will be made to profile pages unless the artist chooses to participate, and Spotify will not take a cut of any contributions.