Business News Digital Management & Funding

Spotify partners with Arts Council’s Momentum Fund

By | Published on Friday 22 May 2015

Momentum Music Fund

For the briefest of moments it looked like today’s CMU Daily might not have a Spotify story in it. We’ve already covered Will Hope’s excellent keynote at CMU Insights @ The Great Escape last Friday, and the not one but two big developments at Spotify this week that the streaming service really wants you to know about, and that big one they’d rather you not discuss; so what about Friday?

Well hurrah for this. The PRS For Music Foundation and Arts Council England has just announced that Spotify is now the digital partner on its Momentum Music Fund initiative, the market-leading streaming service shunting poor old Deezer out of the way when it comes to allying with ACE’s artist-supporting grants programme. Perhaps Deezer can find a fund for podcasters to support. I wish there was a fund for podcasters.

Anyway, ACE, PRSF, MMF, Spotify. The tie up, we are told, “will further extend Momentum’s impact, with an additional funding contribution, alongside a reward package containing exciting promotional opportunities. Momentum artists will enjoy a close relationship working with the Spotify team and will benefit from access to tools, features and best practices that will enable them to connect with Spotify’s 60 million active users across 58 markets globally”.

Confirming its new involvement in the Momentum scheme, Spotify’s Artist Ambassador (which is definitely at thing) Bryan Johnson told reporters: “We’re very pleased to be partnering with PRS For Music Foundation and Arts Council England on the Momentum Fund. This is another example of how Spotify is committed to investing in emerging artists by providing promotional value and expertise, as well as financial assistance. Artists are at the heart of what we do here at Spotify, and we hope that our contribution will allow all those involved in the Momentum Fund to take the vital next steps in their careers”.

The Spotify tie up comes as ACE and the PRS For Music Foundation celebrate two years of the Momentum initiative with a session at Liverpool Sound City, which will almost certainly run through a few of the top level stats, like it supporting 68 acts, helping fund 46 albums and 50 UK tours, and investing more than £500,000 into artist development.