Warner Music Group and the Blavatnik Family Foundation has announced a $100 million fund to support charitable causes related to the music industry, social justice and campaigns against violence and racism.
An advisory panel, made up of appointees from WMG and the Foundation, will establish procedures to identify and support those in the music community, and organisations strengthening education, and promoting equality, opportunity, diversity and inclusion. The panel will determine the amount of the financial gifts and timing.
We're determined to contribute, on a sustained long-term basis, to the effort to bring about real change
Warner Music Group
Steve Cooper, CEO of Warner Music Group said, “This fund will support the extraordinary, dedicated organisations that are on the front lines of the fight against racism and injustice, and that help those in need across the music industry. Our advisory panel, which will draw from a diverse cross-section of people from our team and the wider community, will help us be very thoughtful and accountable in how we make an impact. We’re determined to contribute, on a sustained long-term basis, to the effort to bring about real change.”
The Blavatnik Family Foundation is exclusively self-funded by WMG owner Len Blavatnik, the founder and chairman of Access Industries.
Yesterday (June 2), the global music industry observed Black Out Tuesday. The initiative – which was set up by Atlantic senior director of marketing Jamila Thomas and Brianna Agyemang, former Atlantic exec and now senior artist campaign manager at Platoon – asked for people not to conduct in any business and instead observe a day of reflection and community engagement following the death of George Floyd in Minneapolis.
Earlier today, Warner Music Group has announced the pricing of its initial public offering at $25.