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Remember all the money Spotify “pledged” to the Creator Equity Fund?
good, variety reports that streaming platforms are spending only 10%.
In February 2022, to save face for podcast host Joe Rogan’s misinformation and racist remarks about COVID, Spotify CEO Daniel Ek apologized to staff and listeners, saying, “Music and Audio has pledged to invest heavily in “licensing, development, and marketing of Content of historically marginalized groups. “
A Spotify spokesperson emailed a statement addressing the initiative. “The Spotify Creator Equity Fund is dedicated to a variety of initiatives that help advance and support a comprehensive and diverse portfolio of artists and creators on our platform,” the email read. “We can empower and elevate underrepresented voices around the world.”
The funding is designed to be used over three years, with Spotify already lagging behind. Sources say Spotify lacks a well-structured and clear system for reviewing and approving projects.Bloomberg and variety The company reportedly planned to hire a team of eight people to oversee the initiative, but it has not materialized due to “shifting priorities.” Spotify had not yet completed its 2023 budget and identified priority projects as of the beginning of the year.
Some ideas were proposed but not accepted, but some partnerships got the go-ahead. Spotify is working with Spellman College, an Atlanta-based HBCU, to create scholarships and curricula for students interested in podcasting. Another initiative, titled Glow, featured music from LGBTQ artists such as newcomer Ice Spice and podcasts such as “Nailing It” and “We Said What We Said” hosted by three black women.
Both are scheduled to continue during the current fiscal year.
Spotify has removed 70 of Joe Rogan’s racist episodes, but the show continues to receive backlash. After apologizing to the show’s host, Ek, a comedian and streaming popular show hosted by UFC analysts, has decided his service won’t cancel.
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