April 17, 20 - 11:57 am - LABS

Brazilian entity and Spotify launch aid fund to artists

According to the column of journalist Mônica Bergamo, in the Folha de S.Paulo newspaper, the Brazilian Union of Composers (UBC) launched a financial aid fund for its members in partnership with Spotify. The initiative is part of the global Spotify COVID-19 Music Relief project, that seeks to compensate part of the losses due to the isolation measures necessary to contain the new coronavirus pandemic.

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According to the column, UBC will make available BRL 500 thousand in return for another BRL 500 thousand offered by Spotify. The fund may also receive donations from companies and individuals. The streaming company will donate BRL 1 for every dollar raised by the campaign.