Spotify has reportedly spent less than 10 percent of its Joe Rogan apology fund
claim
the streaming service has spent less than 10 percent of its $100 million Creator Equity Fund, a pool meant to foster diversity in podcasts and music, in its first year of operation. The company reportedly planned to spend the whole fund over three years, but hasn't had a solid structure for approving spending and has been slow to hire staff. Changing priorities have also hurt the project, the insiders say.
Spotify didn't address the funding claims in a statement to Engadget. It instead pointed to projects the fund has supported so far. This includes the LGBTQ music promotion program Glow, marketing campaigns for Black artists like Kaytranada and the recent expansion of the NextGen podcast funding initiative to support development at historically Black colleges and universities. The Creator Equity Fund has also been used to support Latina/Latino creators.
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