Music Industry Stepping Up to Aid Artists
With all tours and live performances postponed for the foreseeable future, musicians are hurtin’ for certain.
But before we all start singin’ the blues, let’s take a look at some companies who are stepping in to provide a little help for our friends.
- Last week the Recording Academy, the organization behind the Grammy’s, announced the MusiCares’ COVID-19 Relief Fund. Amazon Music, Facebook, SiriusXM, Pandora, Spotify, Tidal and YouTube Music have pledged to contribute and the fund had already raised over $2 million.
- SoundCloud has joined forces with streaming giant Twitch to give musicians a way to earn money from live streams. Under their partnership, SoundCloud creators can get their Twitch Affiliate status fast-tracked; a process that usually takes several months. Now, musicians can monetize their accounts within days.
- Soundcloud is also rolling out new features for its app which aim to increase track engagement by more than 25%.
- Bandcamp has waived its fees to send all money from sales directly to artists and labels.
- Today, Spotify is adding features to enable artists to fundraise directly from listeners with no fees.
It’s a tough time for most of us, but if you find yourself in a position to donate, your favorite artists could probably use it right about now.