A few years ago, file-sharing giant BitTorrent released their pay-gate feature, which was welcomed by the community. It allows artists to set a price for fans to pay in exchange for their album, EP, etc., allowing artists to earn money for their hard work. Some of the top artists in the scene utilize this feature, leading BitTorrent to invest even more time and money into this venture.
They’ve announced today that the company will be starting The Discovery Fund, which aims to help independent artists market their music. BitTorrent is planning to team up with 25 artists, musicians, filmmakers, etc., providing cash grants between $2,500-100,000 for the creator to use as they see fit for marketing and distribution. To put it into BitTorrent’s own words:
We’ve worked with some of the most bold and talented artists today (Major Lazer, Thom Yorke, Lucy Walker, David Cross, IHEARTCOMIX, Penny Lane, De La Soul, Pretty Lights, Yung Jake, Lily Baldwin, Frances Bodomo, Daniel Patrick Carbone, Josephine Decker, and Lauren Wolkstein just to name a few) and are looking to incubate the world’s next wave of awesome, straight-up brave storytellers and outside voices.
They are accepting applications already, but have a rolling process that will allow you to finish your project and apply once it’s finished, so those that are currently mid-way through their work don’t need to worry.
You can read BitTorrent’s full statement about The Discovery Fund HERE and those looking to start the process HERE.