Do we all remember that time when Spotify created a $100 million diversity fund to make up for paying Joe Rogan? According to new reporting from Bloomberg, the money has barely been touched.
Bloomberg News reports that one year into the diversity fund’s existence, less than 10 percent of the money has been spent. Sources told Bloomberg that hiring was slow to start, and that since then the initiative has “suffered from shifting priorities.
In an emailed comment to Bloomberg, a Spotify representative declined to cite specific spending numbers. They said the fund has supported efforts including Glow and. The representative also noted that Spotify this week announced its further collaboration with Spelman College, a private, historically Black women’s college. As Bloomberg News notes, however, some projects listed in an internal memo as backed by the effort predate the fund itself.
The representative wrote to Bloomberg News: “The Spotify Creator Equity Fund is dedicated to a variety of initiatives that help elevate and support an inclusive and diverse portfolio of artists and creators on the platform… We are able to empower and uplift underrepresented voices around the world.”from the service last year in an “it’s him or me”-style stand-off with Spotify last year—is still feeling pretty good about his decision.
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