Spotify quietly shuts creator fund sans any payout

.

San Francisco, April 20 (MondayMirror.com) Swedish music streaming service Spotify has quietly shut down its Greenroom Creator Fund, a live audio app creator fund it had announced for creators last year with much fanfare.

The company had promised that the creator fund would begin payouts “later in summer” 2021 to the creators in the US, according to Podnews.

In March, the information was changed to read that the fund “goes live in 2022”.

Now, Spotify has sent emails to creators, saying it is shutting down the live audio app creator fund.

“We can find no evidence that the fund ever paid out any money,” the report said late on Tuesday.

The Greenroom Creator Fund, launched as a Clubhouse competitor, was to allow users to stream live conversations with celebrities, influencers, and other creators and pay them on a weekly basis.

“We plan to shift toward other initiatives for live creators,” the company said in an email.

Last week, the music streaming platform Spotify announced that it was changing the name of Greenroom to Spotify Live and bringing its live capabilities directly onto the Spotify app.

Spotify Live can now be found both as the stand-alone app and as a livestream function in the Spotify app.

“This change reflects our belief in the future of live-audio creators and live experiences being provided to all 406 million Spotify listeners around the globe,” the company had said in a blogpost.

Source: IANS