Spotify Technology SA said on Wednesday it had launched a COVID-19 music relief project to raise funds for musicians as the coronavirus pandemic grounds life to a halt in most countries, while taking a toll on the economy.
The music streaming platform, which had about 124 million paid subscribers, also partnered with non-profit organizations such as MusiCares and Help Musicians, a UK-based charity for musicians, it said in a statement.
Spotify said apart from donating funds to those charities, it would match donations made through the music relief page for up to $10 million.
Countries across the world have been asking people to stay at home to slow the spread of the coronavirus pandemic, which has killed nearly 19,000 people and infected about 421,000 globally.
The company said it was also working on a separate feature to help musicians raise funds directly from fans either for themselves or for other artists.