Snafu Records Launch $1 Million Fund to Empower Women Creators on International Women’s Day: To celebrate International Women’s Day (March 8th) and Women’s History Month (1st-31st March), revolutionary Swedish music tech company Snafu is proud to announce the launch of a groundbreaking initiative aimed at supporting and elevating female creators in the music industry.
The Snafu Women’s Creator Fund, a $1 million commitment, seeks to address the stark gender disparity in music streaming and production, where less than 22% of all streams on platforms like Spotify are attributed to female artists. While the offer starts with an advance on a female creator’s catalogue, it is the additional catalogue growth and AR opportunities provided that Snafu believes will make an impact on women’s careers and experiences in the music industry as a whole.
In order to facilitate growth, the label will be providing:
- Advances based on the artists catalogue
- Catalogue growth through Snafus marketing team
- A&R opportunities: including brand partnerships and artist sponsors
- Women only writing camps (Led by women A&Rs, filled with women producers, songwriters, and other female creators)
- Mentoring from female industry professionals
- Snafu is also releasing a women’s only compilation album, and will continue to work to push all women created tracks through playlists and social media.
Snafu are hoping the result of all of this is: 1) to make more of DSPs top earners female and 2) to create a women’s community and creative network that will make the experience of being a woman in the music industry more successful and safe.
The motivation for securing this 1M fund is a result of experience having deployed 5M to artists already. Research on the outreach conducted by Snafu, which involved engaging with over 10,000 artists, revealed a significant underrepresentation of women in music’s ‘middle class’. (Creators making up to $100k per year) This insight has prompted Snafu to take a proactive stance in fostering a more inclusive and equitable music industry.
Empowering Female Voices Through Financial Support and Resources
The Snafu Women’s Creator Fund has earmarked $1 million in advances to female artists, which will also include access to Snafu’s creator community, brand partnerships, resources, and mentorship programs specifically designed for female artists. This initiative aims not only to increase the visibility of women in music but also to empower them to reach their full potential as creators and entrepreneurs. By offering this support, Snafu hopes to make music a viable career path for more women.
Mira Howard – Snafu Records
Snafu Records has always been at the forefront of leveraging technology to discover and nurture talent. “We have always believed that talent is everywhere, but the opportunities afforded to that talent are not always evenly distributed,” said Ankit Desai, Founder and CEO of Snafu Records.
Mira Howard, Head of Snafu’s Song Fund adds: “As a woman in music and tech, I think it is very important to support women, especially when the numbers are so stacked against them. With the women’s fund, we have a chance to really have a positive impact. If we can make a difference for even one female creator’s career, we will be happy. But the ultimate goal of the women’s fund is bigger than that – it is to shift the percentage of women actually making a living on music.”
Application Process and Eligibility
The Snafu Women’s Creator Fund is open to female artists, producers, and songwriters who are looking to make a significant impact in the music industry. Applicants will be evaluated based on the strength and potential of their back-catalog, as well as their unreleased music. Further details on the application process and eligibility criteria will be made available on the Snafu website.
Apply at womensfund@snafurecords.com
About Snafu Records
Founded in Stockholm, Sweden, Snafu Records is the world’s first AI-enabled record label, using cutting-edge technology to discover and support undervalued talent in the music industry. With a mission to revolutionise the traditional music discovery process, Snafu empowers artists by providing them with the tools, resources, and platform to succeed. For more information about Snafu Records and the Snafu Female Creator Fund, please visit www.snafurecords.com.
