Technolgy Rules: Spotify launches its promised fundraising feature for artists

Wednesday, April 22, 2020

Spotify launches its promised fundraising feature for artists

Last month, Spotify announced that as part of its coronavirus relief efforts it would soon add new fundraising features for artists on its platform. Today, the company is following through with the launch of “Artist Fundraising Pick,” a feature that allows artists to fundraise for themselves, their crews, or one of the verified music relief initiatives Spotify has already vetted through the Spotify COVID-19 Music Relief project.

At launch, Spotify is working with a small group of fundraising partners to make the donation process easier, including Cash App, GoFundMe, and PayPal.me.

Cash App is currently Spotify’s preferred method, as it has also established a $1 million relief effort for artists. When Spotify artists choose their “$cashtag” as their Artist Fundraising Pick and secure at least one donation of any size, they’ll receive an additional $100 in their account from Cash App up until a collective total of $1 million has been contributed. This works for artists in the U.S. and U.K., but Spotify users worldwide can donate through Cash App.

To use the new fundraising tools, artists (or Spotify for Artists admin users) will go to their Artist dashboard and click “Get started” on the banner at the top to submit their Fundraising Pick. This is a similar process as to how artists choose which track they want to display on their profile.

Once live, fans can donate to the cause through the artist’s profile. In addition to Cash App, PayPal is broadly available and GoFundMe is available in 19 markets.

If the artist chooses to raise for a music relief organization, they can select from those associated with Spotify’s existing charity project, which launched last month in partnership with MusiCares, PRS Foundation, and Help Musicians. It has now expanded to include a wider range of participating organizations, including several local options, and is continuing to grow.

At launch, a handful of artists already have the new feature live, including Tyrese Pope and Boy Scouts who are fundraising through Cash App; Marshmello who is fundraising for MusiCares; and Benjamin Ingrosso who is fundraising for Musikerforbundet.

Spotify says it moved to quickly launch this feature because it believed it was in a unique position to help artists raise money from a global network of fans. However, it cautions that it’s never built a fundraising feature like this before, and considers this a “first version.” Over time, the feature will likely evolve and update based on artist feedback.

“This is an incredibly difficult time for many Spotify users and people around the world — and there are many worthy causes to support at this time,” the company wrote in an announcement. “With this feature, we simply hope to enable those who have the interest and means to support artists in this time of great need, and to create another opportunity for our COVID-19 Music Relief partners to find the financial support they need to continue working in music and lift our industry,” it said.