Music streaming service Spotify has shut down its Greenroom Creator Fund, a live audio app creator fund targeted for creators.
Spotify had promised that the creator fund would begin payouts “later in summer” 2021 to the creators in the US.
In March, Spotify changed the information to read that the fund goes live in 2022.
Spotify has also sent emails to creators, saying it is shutting down the live audio app creator fund.
The Greenroom Creator Fund, launched as a Clubhouse competitor, was to allow users to stream live conversations with celebrities, influencers, and other creators and pay them on a weekly basis.
“We plan to shift toward other initiatives for live creators,” Spotify said in an email targeting creators.
Last week, Spotify announced that it was changing the name of Greenroom to Spotify Live and bringing its live capabilities directly onto the Spotify app.
Spotify Live can now be found both as the stand-alone app and as a livestream function in the Spotify app.
“This change reflects our belief in the future of live-audio creators and live experiences being provided to all 406 million Spotify listeners around the globe,” Spotify said in a blogpost.
Spotify leads the global base of music subscribers but its share in the digital service provider (DSP) streaming market has been slowly declining, according to entertainment research firm MIDiA.
In Q2 2021, Spotify had 31 percent of the global DSP streaming market — down from 33 percent in 2020 and 34 percent in 2019. Apple Music has 15 percent market share.
