So, how does a musician exactly make money? They make it mostly through royalties (if the song they composed is used and sold commercially or is being remade by another artist), advance payments (if they’re under a record label, selling merchandise, and the most important one: playing live. Playing live becomes the backbone of their artistry not only because they get to showcase their songs and hard work, but also because it is the time when everyone in the band is paid almost, if not equally. Royalties only go to the band members who composed the songs, but by playing live, everyone gets paid.
Because of the COVID-19 crisis, many performing artists (not just musicians) are left with no work. Many of them are also not aware of handling their finances well like an economist or a banker. Hence, a lot of fundraising efforts for artists have emerged during this time.
Spotify has been working with partners in the creative industry to help those who have been deeply impacted by the pandemic. They have partnered with organizations such as MusiCares, CDC, WHO, and carried out a $10M fund through the Spotify COVID-19 Relief. We are awaiting a partnership with the Philippines’ music organizations, but the good news is, Spotify has recently launched the Artist Funraising Pick.
Fans who want to help their favorite artists, they just have to visit the profile of the artists or band they want to support and choose a payment option. For users in the Philippines, Paypal is more widely-used. If you favorite Pinoy artist isn’t signed up for donations yet, please wait it out and stay tuned to their respective social media accounts for announcements.
This feature allows artists to collect donations for themselves and their crew via their Spotify artist profile. Artists can choose how they can get donations: vis Cash App, Paypal, or GoFundMe. All they have to do is log-in to their Spotify for Artists account and select “Get Started” on the fundraising banner at the top of the dashboard. Follow the instructions from there, and you’ll be ready to accept donations from fans.