Sony Music Group, the umbrella for Sony’s recorded music and publishing operations in the US and elsewhere, has announced the launch of a $100m fund to “support social justice and anti-racist initiatives around the world”.
SMG, which is headed by Chairman Rob Stringer, says it will immediately begin to donate to organizations that foster equal rights.
Stringer, who is also Sony Music CEO, said, “Racial injustice is a global issue that affects our artists, songwriters, our people and of course society at large. We stand against discrimination everywhere and we will take action accordingly with our community fully involved in effectively using these funds.”
In a statement, SMG said it had “established this fund with the full support of the initiatives undertaken by our sister entertainment company, Sony Pictures Entertainment and all divisions of Sony Corporation“.
“We stand against discrimination everywhere and we will take action accordingly with our community fully involved in effectively using these funds.”
And yesterday (June 4), as part of initiatives tied to its new Task Force For Meaningful Change (TFMC), Universal Music Grouppledged to invest a $25m ‘Change Fund’ into supporting the black community both within and outside its company walls.
On the music industry’s ‘Black Out Tuesday’ (June 2), Canadian star The Weeknd, aka Abel Tesfaye, revealed that he had personally given half a million dollars to causes that protect and improve the lives of black people in America and around the world.
Tesfaye used his vast social media platform to call on major music companies to “go big and go public” with donations of their own.
Jon Platt, Chairman and CEO of Sony/ATV, wrote in an open letter published Monday (June 1): “As a music community, we are anchored at the heart of Black culture, and our industry has an unrivaled role and responsibility to help lead society out of crisis and onto the path of true justice and equality.
“As a music community, we are anchored at the heart of Black culture, and our industry has an unrivaled role and responsibility to help lead society out of crisis and onto the path of true justice and equality.”
Jon Platt, Sony/ATV (speaking on Monday, June 1)
“Music companies have rushed to pledge solidarity with the Black community since the atrocity committed against Mr. Floyd. But I often remind my team of a fact that might seem odd for a music man to point out: ‘People see better than they hear.’
“Timely action must follow the industry’s lyrics. Otherwise, words are ultimately empty.”Music Business Worldwide
