Spotify<\/a> executives have solely spent 10 per cent of their $100million (\u00a381.75million) funds on a brand new fund to advertise music and audio content material by members of \u201chistorically marginalised groups\u201d.<\/p>\n The Creator Equity Fund was launched final 12 months within the wake of controversy<\/a> surrounding Joe Rogan\u2019s Spotify-exclusive podcast,\u00a0The Joe Rogan Experience,\u00a0<\/em>resulting from makes use of of the N-word and COVID-19 vaccine misinformation.<\/p>\n Just over a 12 months on, nonetheless, Bloomberg<\/em><\/a> has discovered that the initiative has bought off to a sluggish begin. Spotify was discovered to have taken months to rent workers and take care of \u201cshifting priorities\u201d, and Bloomberg additionally obtained a memo which mentioned that originally of the 12 months, they have been nonetheless finalising the fund\u2019s funds and have been nonetheless finding out their precedence initiatives.<\/p>\n A mission supervisor was appointed and groups assembled to pitch and create reveals and help with advertising and marketing, the initiative lacked sufficient of a construction when it comes to fielding initiatives and funding.<\/p>\n \u201cThe 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,\u201d a spokesperson for Spotify mentioned in a press release. \u201cWe are able to empower and uplift underrepresented voices around the world.\u201d<\/p>\n Many shops have identified that the Creator Equity Fund had the identical funds as Rogan\u2019s contract with Spotify (although others have estimated<\/a> that his contract was value twice as a lot).<\/p>\n Spotify\u2019s CEO Daniel Ek additionally failed to say when the initiative was introduced how lengthy it will final, describing it solely as an \u201cincremental investment.\u201d A Spotify spokesperson insisted that the system was working, however mentioned that he fund was designed to final \u201cmultiple years\u201d somewhat than a set timeframe.<\/p>\n \u201cWe are seriously questioning this company\u2019s commitment to funding this committee, and by extension, the values it represents,\u201d unionised workers at Spotify\u2019s true crime podcast community Parcast wrote in a press release to Bloomberg<\/em>.<\/p>\n Following the Rogan controversy final 12 months, the likes of\u00a0Neil Young<\/a>,\u00a0Joni Mitchell<\/a>,\u00a0Graham Nash<\/a>\u00a0and\u00a0Nils Lofgren <\/a>all pulled their catalogues from the streaming platform as a method of protest.<\/p>\n<\/div>\n![\"Spotify](\"https:\/\/www.nme.com\/wp-content\/uploads\/2022\/02\/spotify-the-joe-rogan-experience.jpg\")