Spotify Introduces Fundraising for Artists

By Anne Steele

Spotify Technology SA is introducing a new feature allowing cash-strapped musicians to fundraise directly on their artist pages on the streaming service.

Similar to how artists can select any piece of music to highlight on their profile as an "Artist's Pick," they can now highlight a fundraising destination--to benefit themselves, their band, crew or charity of their choice.

Artists fundraising for themselves can choose to add a link to Cash App, GoFundMe or PayPal.me. In addition, Cash App will donate $1 million in $100 increments to artists who raise funds via the app.

Though royalties from streaming services like Spotify--the No. 1 service by subscriptions--make up 80% of overall recorded music revenue, an artist's cut often isn't enough to make a living. Instead, musicians typically make most of their income on the road. With touring put on hold likely though the end of the year, many artists are looking for other ways to make up the difference.

Write to Anne Steele at [e-mail]

(END) Dow Jones Newswires

April 22, 2020 10:24 ET (14:24 GMT)

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