Universal Music Group announce $25 million ‘Change Fund’
Universal Music Group has moved quickly to establish a $25 million ‘Change Fund’ which comes equipped with the formation of the Task Force for Meaningful Change, in light of ongoing racial tensions in America.
“The problems we are addressing are not new and they certainly do not have easy solutions, but we are dedicated to fighting for real, lasting change,” the co-chairs of the TFMC wrote in a letter obtained by Rolling Stone.
“UMG has committed resources and empowered us to create a task force to be both a resource and ally to our internal and external community,” the letter continued, briefly outlining their plans.
The letter continues: “Task Force for Meaningful Change (TFMC) was created as a driving force for the ongoing fight for equality, justice and inclusion. We are charged with reviewing the company’s commitment to addressing and promoting tolerance, equality, and elimination of bias, within UMG, the music community and the world at large.
“It is our mission to identify the gaps and deficiencies and to strengthen UMG’s plan with new initiatives — and everything is on the table.”
The co-chairs went on to outline six areas of focus and the immediate steps they will be undertaking “to be both a resource and ally to our internal and external community.” The group will be looking at areas of charitable giving, Internal/Institutional Change, Legislative/Public Policy, Partners, and Programming/Curation.
So far, the group have already donated a first round of grants to Black Girl Ventures, Black Lives Matter, Black Mental Health Alliance, Colin Kaepernick Foundation, Color Of Change, Equal Justice Initiative, National Association of Black Journalists, Silence the Shame, Sickle Cell Disease Foundation of California, The Bail Project, and When We All Vote.
Concluding, the letter stated: “We know our community, colleagues, artists and partners are suffering. We feel it and we’re living it but we’re also energised to fight for change. We’re asking for you to lock arms with us — we want to hear your voice. Now is the time to be heard!”