Spotify Launches Creator Equity Investment Funds for Young Ghanaian Music Entrepreneurs
- Posted on March 31, 2023
- By PETER AGADA
Spotify a streaming platform with millions of users in Africa has invested in its Creator Equity Fund by donating to Accra-based Vibrate Space.
Vibrate Space is a non-profit organization that is operated by surf Ghana - it’s also a community recording studio that offers music business programs offering education and also mentoring young Ghanaian artists so that they can create, collaborate and connect.
In September 2022, Spotify first partnered with Vibrate by giving donations to a major upgrade and launch of the studio. With the innovation, the platform has registered close to 200 studio bookings in the past six months and it has also hosted a handful of creators from classes and events.
To assist vibrate gain its robust plan support and growth, Spotify made a huge donation from its Creator Equity Fund to be administered over many years.
However, the Head of Music for Sub-Saharan Africa (SSA) at Spotify Ms. Phiona Okumu made it know in a briefing where she said,
"Since Spotify arrived in Africa 5 years ago we have worked to identify opportunities to support artists in ways that speak directly to each of our markets. The partnership with Vibrate allows us to continue supporting emerging artists and cultural entrepreneurs in Ghana in addition to the oil platform work we are doing in the country."
Also commenting about the developments in the Global Head of Artist and Audience Partnerships at Spotify Mr. Joe Hadley said,
“Spotify is proud to continue our efforts to support and uplift creative with our creator equity fund. I am excited to share that fund. We are announcing a donation to the Vibrate space in Accra Ghana. They have incredible partners to us continually falling into the local community and creating a space where artists can come together to grow creatively. We are also looking forward to hearing the music stories and success that will come out or vibrate.”
However, Spotify Sub-Saharan Africa is seeking ways to promote African music and celebrate and support its creators. Aside from Vibrate, Spotify is also looking for ways to support artists both off and on the platform across the continent.
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