The Greenroom Creator Fund, a Swedish company, was set up in June last year as a competitor to Clubhouse, with a weekly payout based on their performance. One day, the applicant company was informed via email that the fund was being shut down. Just a few days ago, Spotify had rebranded Greenroom as Spotify Live.
According to The Verge, the streaming company mailed people who had registered to the fund, declaring that the program would not be going forward. Spotify didn''t provide any specific explanation for the changes made in their plans.
At the time of writing, it is unclear if the fund was ever officially launched or if anyone received payment through it. Spotify has revealed that it intends to shift to other live creator initiatives and that it is looking forward to releasing new monetization opportunities for live content creators in the future.
In June last year, Spotify had launched a live audio app called Greenroom. This was the answer to Clubhouse, the Swedish online music streaming business. It allowed users to participate in live chats or to host their own. Greenroom had been launched by Betty Labs, the company behind the popular sports-focused audio platform Locker Room.
Greenroom was re-branded to Spotify Live earlier this month and a slew of new content by top artist. At a time when virtual events continue to attract audience members, the company can now tune in live programming and take part in live chats through the creator or artist''s Spotify page. The company had said that the shows will be available in select markets.