BitTorrent Giving out Cash Grants to Musicians and Artists
BitTorrent has announced the Discovery Fund, a grant program for marketing and promotional funding for artists. The company will award up to $100,000 each to up to more than two dozen artists, in a rolling application process. “Over the next year, BitTorrent aims to partner with 25 creators by providing cash grants and global promotional support to build impactful releases and discover new fans,” BitTorrent said in a blog post. “We are looking for artists, musicians, filmmakers, designers and other creators working on uncompromised projects representing a diverse, original perspective seeking world wide distribution. This open, international initiative has a rolling call (so you can apply when your project is ready) and provides $2,500- $100,000 in marketing and distribution funding to use at your discretion.”
The announcement follows the launch earlier this year of BitTorrent Now, which adds a free, ad-supported streaming component to BitTorrent’s direct-to-fan distribution platform, previously called BitTorrent Bundle. BitTorrent offers artists a 70/30 split on ad revenue for its free tier. The company previously updated the platform by allowing artists to set a price for downloads with “paygates” in 2014, in a campaign led by Thom Yorke’s Tomorrow’s Modern Boxes digital release.
“The rules are simple,” writes Straith Schreder, VP of Creative Initiatives at BitTorrent, in a separate blog post about the new fund. “You make something awesome. You own it. We back it, and help you find a global audience for your big idea.”
Read more about The Discovery Fund on BitTorrent’s blog, and find the application here.
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