News

Today’s positive coronavirus-related industry stories (8 April)


Tags:

We’ve broken the big positive story out as our lead today, but there are other good things to report on too.

Variety has a report on how ticketed-livestreams platform StageIt is growing during the pandemic: it made $884k in the last two weeks alone, compared to $500k in the whole of 2019. That translates into revenues for artists using it for their livestreams, with more than 5,000 having signed up or reactivated their accounts in the last few weeks.

Meanwhile, French collecting society Sacem says it has distributed €140.5m of royalties and sums ‘related to our mutual aid program’.

Talent agency Paradigm, which has faced heavy criticism (not to mention a lawsuit) since announcing a series of layoffs and payroll-reductions last month, has launched a $1.1m ‘employee relief fund’ among other moves.

Elsewhere, Lady Gaga is a blur of activity. Having been announced as the curator of the upcoming ‘One World: Together At Home’ concert, she’s also been encouraging tech developers to join IBM’s #CallforCode global challenge, and donate to the World Health Organization’s Covid-19 fund. “I may have the voice, but you’re the tech rock stars…”

Talking of tech rock stars: Twitter CEO Jack Dorsey gets a lot of criticism, but he’s been praised this week for his plan to move $1bn of equity in his other company, Square (“~28% of my wealth”) into a new entity that will fund coronavirus relief, and later into girls’ health and education plus research into UBI (universal basic income). He laid out the details in a series of tweets, which may serve as inspiration to other high-net-worth individuals in tech and other industries.

Stuart Dredge

Read More: News
Leave a Reply

(All fields required)