This week saw the music industry participating in “Blackout Tuesday” an initiative in which the industry paused work in order to reflect on ways they could better support the black community following the #BlackLivesMatter on Social Media
The nation’s second largest bank BANK OF AMERICA is contributing $1 billion alongside WARNER MUSIC, who announced a $100 million fund support to the fight against racial inequality.
As the world continues to grapple with the economic distruption and the issue of racial inequality and injustice has been further underscored over the past week, following the death of George Floyd – a 46 year old black man who was murdered by Minneapolis police on Memorial day.
According to the bank of America’s press release, the $1 billion will benefit communities of color over the next four years, with the money going towards a number of different areas such as, employee recruitments, jobs training, support to small businesses, housing aid, and the expansion of health services like vaccination clinics.
“Underlying economic and social disparities that exist have accelerated and intensified during the global pandemic,” Bank of America CEO Brian Moynihan said in a press release.
Warner Music Group CEO, Steve Cooper said ”This fund will support the extraordinary, dedicated organizations that are on the front lines of the fight against racism and injustice, and that help those in need across the music industry.”
The announcement came after The Weeknd revealed that he would be donating $500,000 across three organisations (including Black Lives Matter), whilst simultaneously calling on the big three labels and streaming services to do the same. Warner is the first of the labels to announce a donation, and as of yet, there has been no word from Universal Music Group and Sony Music.
Regardless of race or skin color, let’s all live in peace and harmony.
Black lives truly matter!
