Spotify Quietly Closes Creators Fund Without Any Payments, Telecom News, ET Telecom

San Francisco: Swedish music streaming service Spotify has quietly closed its Greenroom Creator Fund, a fund for creating live audio apps that it announced to creators last year to much fanfare.

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

In March, the information was changed to indicate that the fund “will be operational in 2022”.

Now, Spotify has sent emails to creators, saying it’s shutting down the Live Audio App Creators Fund.

“We can find no evidence that the fund ever disbursed any money,” the report said on Tuesday evening.

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

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

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

Spotify Live can now be found both as a standalone app and as a live streaming feature within the Spotify app.

“This change reflects our confidence in the future of live audio creators and live experiences delivered to Spotify’s 406 million listeners worldwide,” the company said in a blog post.