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Spotify has shuttered its fund for stay audio creators lower than a 12 months after the funding program was first unveiled, an organization spokesperson confirmed to The Hollywood Reporter.
Initially, stay audio creators utilizing Spotify Greenroom — which has since been renamed Spotify Reside — would have been in a position to take part within the fund to obtain payouts for his or her work. Spotify by no means disclosed how precisely the funding could be decided, however the firm stated in its preliminary announcement final June {that a} creator’s viewers dimension and the way their content material was consumed would issue into the funds.
However the creator fund by no means in the end launched final summer time, as Spotify stated it could on the time, and a Spotify spokesperson stated on Tuesday that the funding shall be shifted towards “different initiatives for stay creators.” The spokesperson declined to share how a lot cash had been allotted towards the creator fund.
The tip of the creator fund comes as Spotify is making one other try at its stay audio choices with new programming, together with exhibits hosted by Name Her Daddy host Alex Cooper and comic Hasan Minhaj, and by including choose stay programming to the primary Spotify app, moderately than relegating stay exhibits to the standalone Spotify Reside app.
Podnews first reported the creator fund shut down.
This text initially appeared in THR.com.
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