Spotify closes Greenroom Creator Fund: report

Spotify is reportedly shutting down Greenroom Creator Fund – its live audio app creation fund. The Swedish company launched Greenroom in June last year as a competitor to Clubhouse. The Creators Fund was announced in tandem with the live audio app, with the intention of attracting creators through weekly payments based on their performance. Fund applicants were notified by email that the fund was being closed. Spotify had renamed Greenroom to Spotify Live just a few days ago.

According to The Verge, the streaming company sent a letter to people who signed up for the fund saying the program would not go ahead. Spotify did not provide any specific explanation for the change to their plans.

As of this writing, it’s unclear if the fund has ever officially launched or if anyone has received payment through it. As reported by Podnews, Spotify said the company plans to move on to other Live Creator initiatives and that Spotify is looking forward to releasing new monetization offerings for Live Content Creators in the future.

Spotify had launched the live audio app called Greenroom in June last year. It was the Swedish online music streaming giant’s answer to the popular Clubhouse platform. Greenroom allowed users to join live chats or host their own. Spotify launched Greenroom after acquiring Betty Labs, the company behind the popular sports-focused audio platform, Locker Room.

The company renamed Greenroom to Spotify Live earlier this month and announced a slew of new content by top artists. The company is doubling down on the format at a time when virtual events continue to draw in audiences. Listeners can now tune in to live programming and participate in live chats through the creator or artist’s Spotify page. The company had said the shows would be available in select markets.

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